Few Factors to Consider While Buying or Renting Heavy Equipment
Considering various pros and cons of both buying and renting, it will really pay you, if you evaluate the current situation of your company and its capabilities.
This will help you to arrive at a decision whether acquiring equipment can be most advantageous for your business that can also simply make your life easier. Surely, the initial cost can be major factor in your decision process.
However, it is certainly not the one as there are many other things to consider like usage, availability and many more.
Following are an overview about few of the things that you must bear in your mind before you decide when you must buy or when to rent your heavy equipment like chargeuse à bois which means wood loading loader.
- Current financial situation
For any purchase or renting decision where finance is involved the first thing to consider will be to evaluate the current financial position of the company.
In case you take the decision of buying then you can reduce the financial impact in following ways:
- Buying good quality equipment
- Finance the equipment
- Comparing ownership and renting cost
You also need to find out what will be the cost impact for both these decisions. In case you are opting to buy such equipment then along with the cost of the equipment you also need to find the cost of its maintenance and insurance etc.
In case of renting all these costs will be included in your rent.
- Length of your project or frequency of job
In case, your length of project is not too longer or your frequency of using the equipment is far less, then renting can be a better option.
However, in case your requirement of equipment is on long-term basis then buying can be the right option.
- Equipment availability and usage
One of the biggest advantages of buying equipment is, it will be always available with you and if you suddenly need the equipment any time then you can use it.
While deciding whether to go for renting or buying, you must check whether can you rent the machine any time you need?
- Inventory control and fleet management
Proper managing of your equipment is very important consideration too and hence you need to evaluate whether your company has necessary skill to manage the equipment and keep it in operative condition always.
It is necessary to have in-house capability to maintain the equipment and also taking care about insurance of the equipment as well.