Why You Should Rent Before You Buy Construction Equipment
Category: Equipment and Solutions
To complete jobs efficiently and provide exceptional results for clients, your team needs the right construction equipment. Whether you manage a large fleet or are purchasing your first machine, you want to make an informed decision. Buying construction equipment requires a large investment of business capital — the right piece of equipment will expand your company’s ability to take on ambitious projects, but you also open yourself up to financial risk when making a big purchase.
To avoid some of the risks associated with buying construction equipment, you may decide to rent a few machines before making a final purchasing decision.
Benefits of Renting Construction Equipment Before You Buy
Construction companies have long recognized the benefits of renting equipment from a trusted rental provider. Renting equipment can allow you to supplement your fleet, dodge maintenance and storage costs, and free up resources for business growth. However, if you use a machine often, purchasing may make the most sense for your company.
Even if you’ve decided you need to purchase your own equipment, renting can still offer advantages. When you rent equipment for a few weeks or months before you buy, you will have the opportunity to do the following to make sure it fits your business.
Familiarize Yourself With the Options
Construction equipment comes in many forms. When you visit NMC The Rental Store, you may not know exactly what brand of machinery or combination of features will best meet your needs. When you take the time to rent a few options, you can compare and contrast their benefits relative to purchase price.
You may discover that having the latest technology is more important to you than you thought, or you might find a slightly older machine serviceable for your needs. Once you’ve explored all the options at your disposal, you can feel confident in your decision.
Estimate the Equipment’s True Utilization Rate
You want any construction equipment you purchase to see enough use to justify the investment. When you rent the machine you are considering for a few months, you will have the opportunity to more accurately gauge its utilization rate. To calculate this rate, divide the number of days you used the machine by the number of days you had it available for use.
In general, you should only buy construction equipment if it will have a utilization rate of at least 60% or if other factors make purchasing a better option.
Put the Equipment to the Test in the Field
You wouldn’t buy a new car without taking it for a test drive first. Before buying a machine, you should ensure it handles well and performs to your expectations. Renting construction equipment before you buy allows you to try it out and evaluate its practical benefits and drawbacks. If the operators raise any concerns, consider searching for alternatives.
Contact NMC The Rental Store
At NMC The Rental Store, we offer rental construction equipment to help customers in Nebraska and Pottawattamie County, Iowa, make informed purchasing decisions. Choose from daily, weekly or monthly options. We can also recommend machines suited to your project requirements. To learn more, visit us in person or fill out our online contact form today.