Benefits of Renting an Equipment Instead of Buying

Depending on the kind of business or work you do, you may at some point need extra equipment that you may not have in your inventory. 

For instance, if you are in the photography business, you may need a drone on a specific project. If you are in the construction business, you may need excavators, concrete mixers, drills, rakes, trucks, or other kinds of machinery. 

Now, when you need a piece of equipment for a project, there is always the dilemma of whether to buy it or lease it from someone who already has it. 

Buying vs. renting equipment can be a difficult decision to make, more so when you have not done a cost-benefit analysis. That said, buying has its advantages, such as when you need to use the equipment long-term or when what you are looking for is not available on lease. 

However, the advantages of renting far outweigh purchasing equipment. The top 8 benefits you get to enjoy when you rent equipment instead of going for full ownership include: 

1. No Initial Capital Costs

The first, and most obvious benefit, is that you do not have to cough up the initial investment required to buy equipment. Most business types of equipment are expensive and can, therefore, take up a significant percentage of your budget. 

Aside from requiring a considerable chunk of money, it also means that your capital will be tied to the equipment until you decide to dispose of it. And, in most cases, you will not recover a good part of what you initially invested when you finally sell it, as the resale value will be lower thanks to depreciation. 

2. Saves You Upkeep and Maintenance Expenses 

Owning something like an excavator or tractor comes with recurring upkeep and repair costs of keeping it in good shape. Maintenance alone will need you to keep a specialized team on payroll. 

These upkeep costs can be hard to estimate, and so will your budget. You may find yourself spending a few thousand dollars in one year and three times that the next. 

With renting, however, you do not have to worry about the costs of keeping the machinery in good working condition as the responsibility falls on the renting company. On top of that, you are aware of the renting rates upfront and can budget efficiently. 

3. Saves You on the Tax Bill 

Paying for large, expensive equipment for your business will undoubtedly attract a significant tax bill. That is because things like trucks and tractors are considered property, meaning you will have to pay property tax.  

But if you want to save taxes, leasing equipment is a more affordable option on top of purchase costs. Rental payments are regarded as business expenses and, therefore, deducted before taxes. Also, depending on the type of business you are doing, you may be eligible for certain tax benefits when renting machinery. 

4. No Need to Make a Long-Term Commitment 

Buying an expensive piece of equipment is a long-term commitment. But sometimes, you are not sure whether your business will need it in the next month or year and, therefore, are scared of making such a big monetary commitment. 

In other cases, you are not sure how much value the equipment you want to acquire will bring to your business and would prefer to try it out first. 

Renting gives you access to the equipment you need without needing you to commit yourself fully. You can decide whether you need to buy it or are just better off renting with time. 

6. Saves You on Idle-Time or Obsoleteness After Job

Renting your landscaping, remodeling, or construction equipment means you will not have to worry about it sitting idle since you will not find any good use for it. 

Some of these machines do not come cheap, so the last thing you want is to sink a significant amount of money on something and watch it sit idly after one job or a couple. 

To avoid the pain of watching your equipment lay idle, renting one just for when you need it is a lot better. You get the machine you need only for as long as you need it, which, frankly, is a better return on investment.

7. Better Cost Tracking and Control 

When you rent your equipment for various tasks, you can gauge the costs of your project more effectively. After all, there are not many things for you to keep tabs on, except for the obvious rental prices. 

Ideally, the rental company is responsible for other expenses such as the up-front investment, transportation costs, taxes, and so on. 

Moreover, rented equipment gives you more control over your budget since you will not have to worry about any out-of-the-blue expenses like repair and maintenance fees. 

8. No Worries About Storage 

Anyone who opts to buy a piece of heavy equipment will need a short- and long-term storage solution for it. After all, no one wants to leave a vital and expensive machine out in the blazing sun, driving rain, or blustery wind. The more your equipment is exposed to the elements or stored in a poorly ventilated storage space, the more its overall quality degrades.

Luckily, you do not have to make plans for long-term storage. With rental equipment, your service provider will take care of the delivery and storage of your equipment. It means you will not have to go through the trouble of acquiring more property and constructing large storage spaces. 

9. Avoids Operational Costs 

If you buy new equipment every time you have a construction, landscaping, and remodeling job, you will need to bring a small team to service your machine regularly. 

There are parts, hydraulics, and fluids that need to be changed from time to time, not to forget, tech upgrades. When you rent your machines, all these concerns remain the responsibility of the equipment rental service provider.

Looking for a Reliable Equipment Rental Service? Atha Rental is Your Trusted and Convenient Rental Equipment Provider in Walton County, GA

Whether as an individual or corporation, there will certainly come a time when you need equipment for some project. When that time comes, the question of renting or buying equipment will undoubtedly arise. Be sure to refer to these eight reasons if you need to strengthen your resolve to rent your equipment. 

For your next project in Walton County, GA, call Atha Rental on 770 207 6041 to rent high-quality equipment so you can save both time and money.