When you need to move dirt and rocks for a construction job, it requires some big equipment that gets pricey. Instead of buying it new, you may be deciding between renting or leasing the equipment. Here are some things to consider when deciding between renting or leasing earthmoving equipment.
Renting Prevents You From Being Responsible For Maintenance
A major benefit to renting your earthmoving equipment is that you don't need to worry about breakdowns or repairs. Regular maintenance is necessary for all major construction equipment in order to keep it working properly. The rental company is responsible for taking care of the routine maintenance and inspections, so it isn't something you need to worry about. If a tractor breaks down while you are using it, you don't need to worry about the costs. With leasing, some agreements require you to take care of at least a portion of the repair costs.
Leasing Allows You to Eventually Own the Equipment
With leasing, you feel like the payments you send to the equipment business are going somewhere since you might eventually own it. While you still have the flexibility to end your lease agreement when the contract is up and go elsewhere, you should also have the option of continuing to pay payments or submit a final bulk payment to own the skid steer or excavator. You may decide that you like the equipment and want to buy it. If you were renting, all those costs don't get applied to anything except temporary usage of the earthmoving equipment.
Renting Is Better When You Will Only Use Equipment On Occasion
While leasing is often better financially in the short-term than buying equipment new, you still might find that you don't use the equipment often enough to offset the costs. If you are a new company, or you simply don't use this particular type of equipment often, you might be better off renting. Then if you find that you are renting it frequently, it is probably a good idea to consider leasing it.
Leasing Lets You Store the Equipment and Keep it Close
With leasing equipment, you don't need to make a large investment in buying the equipment new, but you still have it available whenever you need it. This means you can store it close by and always have it available. You don't need to go through the rental company every time your job site requires use of the equipment, and you don't have to be concerned about the equipment not being available when you need it.
For more information, contact a company like Eastern Plant Hire.
Share10 June 2016
Welcome! My name is Frances, and this is my first blog. Whether you found me through a Google search or were passed my link by a friend, I am so glad you found my blog. I plan to fill it with a range of commentary on the world of contracting and construction work, and I hope that you find my ideas compelling and creative. I am a dog trainer, but I have always loved the world of construction. I tend to work a lot on the weekends and evenings, when my clients are off work. As a result, I have a lot of time to write during the day, and I decided to create this blog. Thank you for reading.
