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Why You Should Lease Rather Than Buy Equipment

No matter what industry you work in, you are likely to need some different types of equipment. Particularly if you need large equipment such as a belt press, backhoe or dump truck, you should consider renting equipment as a service. There are a number of advantages to this business model.

Save Money

Saving money is the most common reason the market for renting equipment has grown so much during the past decade. If you don’t have to purchase the equipment outright, you have more money in your pocket for the day to day operations of your business. In addition, the company you rent from usually has a maintenance team that will service the equipment and keep it in good shape. You only need to budget for the actual rental fees.

Remain Compliant

Large machinery often needs to follow regulations regarding emissions. Your service company will make sure the equipment they lease to you is compliant with the standards of your state.

Keep Workers on the Job

If you own equipment that breaks down, that can cost you quite a bit of time to get it back into working condition. However, when you lease equipment, it is delivered to you in working condition when you need it. If it breaks down while on the job, the company is likely to be able to replace it more quickly than you would have been able to get it repaired if it had been yours. Keeping work moving along can reduce labor costs and help you meet deadlines.

It’s also nice to know that the equipment will be taken away when your job is completed. You don’t have to find a place to store it until you need it again.

Next time you are trying to decide whether to make a major purchase of equipment, consider leasing it instead.