Heavy Equipment Rentals

Heavy Equipment Rental Benefits

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Renting construction equipment has increased in popularity for a variety of reasons. A few key contributors to the growth of equipment rentals include the rising cost of purchasing equipment Here are some benefits that your company will see if you decide to begin renting construction equipment.

Avoid the Initial Purchase Cost

Purchasing brand new construction equipment is extremely expensive and can make a huge impact on how your company’s budget. Renting or leasing equipment avoids the upfront costs associated with purchasing, and allows businesses to better manage your financial resources.

Less Maintenance and Repair Costs

When you own equipment, you must consider the cost of maintenance and repair. Although maintenance and repair is still important for rental equipment, costs will be lowered compared to purchased equipment. With rentals, the time and labor costs associated with maintenance and repairs are lower and more manageable.

No More Market Fluctuation

The construction world is dynamic and many things influence the market. Renting equipment cushions your company from unpredictable downturns that may arise. Rather than committing to a piece of equipment, leasing allows for options that make it easier to ride the rise and fall of market forces.

No Depreciation Costs

When you own machinery, you incur considerable depreciation costs. Reselling equipment, and maintaining it requires quite a large investment on top of your upfront purchase. Although all companies operate differently, renting construction equipment avoids loses associated with depreciation.

Project-Specific Rentals

Typically, construction companies are balancing many projects at once. Renting specific pieces of equipment for particular projects eliminates any logistical delays.

Solve Storage Issues

Equipment that is not stored properly, or exposed to harsh weather condition may depreciate faster. You can negotiate with vendors or suppliers regarding how long you need a rental, and your company may not worry about long-term storage. This saves you time needed to plan out the logistics, as well as the cost of storage.

Transportation Logistics

Transportation can take a long time, affecting the productivity and efficiency of a project. Renting allows you to avoid this burden and provides a more reliable equipment option by keeping pieces onsite.

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Heavy Equipment Rentals

Renting Heavy Equipment Advantages

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Renting heavy equipment rather than buying offers quite a few major advantages that can be beneficial to companies of all sizes across different industries. Here are just a few advantages:

Convenience and Logistical Advantages to Renting Equipment

One the biggest categories of advantages that renting has over owning is in the added convenience that it brings and lower logistical demands that it requires.

No Maintenance

When a company rents heavy equipment it is the rental company, not them, that handles these maintenance needs. This frees up a considerable amount of time, labor, and overall hassle and stress, especially when whole fleets of equipment come into play.

No Storage

Most pieces of heavy equipment will begin to suffer over time if they are left outside and exposed to the elements. Warehouse space is often at a premium and storing large, heavy equipment may be eating into a company’s ability to store much-need products and materials.

Transportation Is Easier

Transporting heavy equipment, especially an entire fleet of it, can be very expensive, time-consuming, and logistically challenging. Renting equipment removes this burden since the equipment can be delivered to the worksite instead.

Operational Advantages to Renting Equipment

Supplement Capacity

A company may already have some equipment, but still find that in order to get the job done in a timely, efficient manner they need to ramp up their capabilities with additional pieces of equipment. It is much more cost effective to rent these temporary extra units than to purchase them outright for an isolated project.

Rent Before You Own

You can even try different brands and models for a more hands-on comparison. This allows your ultimate purchase to be much more informed and helps you set your expectations accordingly.

Service

If something goes wrong with the equipment, or you aren’t sure how to do something, they can either walk you through troubleshooting or swap out the problem unit with a different one.

Financial Advantages to Renting Equipment

There are times when it is more cost effective to own rather than rent; however, the following financial advantages to renting should definitely be taken into consideration before a decision is made.

Tax Deductions

Rental expenses are usually fully deductible to a company as a business expense. Capital costs will instead be amortized or depreciated over the life of the equipment.

No Depreciation

A drawback to purchasing just about any type of equipment is that it will immediately begin to depreciate in value, lowering the amount you would receive if you resold the equipment later.

Better Cash Flow

Buying new heavy equipment is expensive and in all but very large companies such a purchase is likely to have a significant impact on cash flow.

Our award-winning team takes pride in helping you meet the challenges of your dynamic operation. Contact us today to get the right equipment rental for you. Contact your local KMH Representative at 888-564-7978 or fill-out the form below…