As the price of purchasing construction equipment increases, the practice of renting equipment has increased in popularity. Renting has become a viable option for companies looking to save money. Here are some benefits that your construction business will see if you decide to begin renting construction equipment from Vassallo Builders Ltd.
Avoid the initial purchase cost
Brand new construction equipment can be extremely expensive to purchase and can make a big impact on your company’s budget. What’s more, purchasing can be a long-term investment that can tie you down to particular equipment items. By renting equipment, you can avoid the upfront costs associated with purchasing and allows you to allocate your financial resources.
Less maintenance and repair costs
Owning your own equipment requires you to consider the cost of maintenance and repair. Vehicles and heavy machinery require significant upkeep, and these costs are significantly lowered when renting equipment in comparison to purchasing. Rentals allow you to focus on the near future rather than a long-term maintenance plan.
Shielding from market fluctuation
The construction sector is dynamic and has a large influence on the market. The fluctuating costs of equipment and the number of jobs available are factors that can’t be controlled. By renting equipment, you’re able to cushion your company from any financial variation, or worse off, loss. Leasing allows for a flexible option, making it easier to handle the rise and fall of the market and ultimately reducing overhead costs by a lot.
Solve equipment storage issues
Companies that have their own equipment must have storage solutions when the equipment isn’t in use. Not having a proper storage solution can cause equipment to depreciate faster. Storage space in a warehouse is an additional cost for construction companies. When dealing with rentals, you don’t have to worry about long-term storage, saving you time and money.
Although additional financial and logistical planning is needed in order for companies to determine whether it’s more worth it to purchase or rent their equipment, a combination of equipment rentals and purchases may be the most effective plan. In many instances, renting has some major advantages that benefits companies of all sizes by enhancing efficiency and reducing logistical considerations.
For information on construction equipment rental, contact Vassallo Group today by visiting our website or calling on 2143 2333.