Many people believe that owning a piece of equipment outright is better than renting something. However, that isn’t necessarily the case. Read on for our reasons about how equipment rentals can save your company money.
Do You Really Need It?
For very specific tasks, only one type of machine is capable of completing the job properly and effectively. This is totally understandable, because you want to meet your customers’ needs. However, if a piece of equipment will be used infrequently or is only tailored to one type of task, it might be in your company’s best interests to rent the tool short-term. Another benefit to this is that you are saving yourself some shop space by not having to store it when it isn’t in use.
Upfront Costs Are Significantly Reduced
Most companies, especially start-up ventures, do not have unlimited financial resources to spend on expensive specialty equipment. This is another great reason to lease short-term. Your company is still able to use the equipment you need in order to complete jobs and increase your revenues without having to worry about high down payments upfront.
No Maintenance Costs To The Renter
Oil changes. Tire replacements. Hoses breaking. These repairs can happen unexpectedly, and often incur large expenses. By renting equipment, those costs are often the responsibility of the leasing equipment, which is Wildcat’s policy. Routine maintenance adds up quickly, so this can be a huge savings to companies.
Allows Business to Keep Updated Equipment
Everyone loves to have the latest-and-greatest, whether it’s a new car, smartphone, or technology. By choosing to lease expensive equipment instead of purchasing, companies have the ability to “trade up” more frequently and without taking such a large hit for depreciations than if they had purchased equipment.
Wildcat is proud to offer a variety of quality rental equipment in order to save your company money. You can also read more about it in our blog here. We look forward to meeting all of your lease equipment needs!