Save Money with an Equipment Rental Company

Business owners understand that profit from having several jobs that will keep you busy throughout the year keeps the lights on and employees paid. You may even question if now is the ideal time to buy the mini excavator you’ve been eyeing. You have one in use, and other projects will require one. You know your preferred equipment rental company has several on hand so getting one won’t be a problem. So, does buying now make sense? Renting offers many benefits, including increasing your company’s capabilities and helping it grow. If you struggle to decide the best course of action, sitting down and asking some pertinent questions is an excellent idea. You may find that continuing to rent saves you time and energy.

3 Questions to Ask Yourself When Deciding Between Renting and Buying

Trying to decide if now is the time to invest in a telehandler or skid steer should be done with these questions in mind:

  1. What is the long-term financial impact of buying instead of renting? This may be the most critical question to answer. Start by thinking about how much upfront cash you will need to make this purchase. You need to consider how much you will use the machine. If you use it frequently and generate income that is more significant than the payment, it may be worth the investment. There are exceptions. For example, renting may be the better financial choice if the equipment is pricey, and you only need it for a specific amount of time. Another exception is the impact on your taxes. You may be able to take your rental fees as deductions on your taxes. You can use the depreciation of a purchased machine, but the tax advantages eventually run out. You may want to talk with your accountant to determine your best course of action.
  2. Will maintenance costs and downtime significantly affect your projects? Maintenance will affect your long-term financial standing when you purchase equipment. You are responsible for all service and care when you own it. You must find someone to service it and deal with extended downtime and additional costs. You don’t have the same concerns when you rent. The equipment rental company handles the maintenance and care; if an issue arises, they will send someone to fix it promptly and provide a replacement if the repairs will take longer.
  3. What requirements and challenges will this job have? Each job site is unique. You may need additional equipment that you don’t already have. Renting what you need makes more things possible without long-term financial commitments. When you rent, you can access a variety of heavy equipment and newer technology, making an operator’s life much easier. Also, you can rent items that can do two jobs, like a backhoe. Renting with a reputable equipment rental company allows you to do this, saving you money.

Enjoy Saving Money and Time When You Use a Trusted Company

Depending on a quality equipment rental company such as Puckett Rents is an excellent way to save money and grow your business. We have a large, well-maintained inventory of heavy machinery, such as excavators, earthmoving equipment, boom lifts, and backhoes. We also rent many other pieces of construction equipment, such as skid steers and telehandlers. Call us today with any questions!

Consult our equipment rental team at 800-736-8228 or 601-939-5151 to learn about our well-stocked inventory for your next project. You can also fill out our online form with questions about any construction equipment we offer.