Why Should You Rent Construction Equipment
In every industry, there are tough decisions to be made. When it comes to investments and overhead, those decisions need to be informed. Even an educated guess can cause margins to tighten or lead to unexpected costs. Finding efficiencies in your company’s budget isn’t just a must — it’s a project that’s always ongoing.
In the construction business, the challenge of managing inventory can be especially tricky due to the enormous cost of equipment. Nearly every aspect of a construction job requires specialized and complex machines that are expensive to obtain, much less maintain. Considering the often sky-high upfront cost of buying new excavators, track loaders and skid-steer loaders, the task of expanding your project capabilities without breaking the bank can become daunting. Even leasing may require a financial commitment your circumstances prevent you from making.
Is there such a thing as a financially responsible compromise? Renting may be. Here, we’ll break ground on the advantages of renting construction equipment and why it may be your best course of action.
Construction Equipment Rentals Save Money
Once you begin to analyze the costs of buying and owning equipment and compare them against renting, the advantages become clear. And, while it’s reasonable to be concerned about the combined expense of renting over time, the flexibility it offers is unparalleled. Needs and projects can change unexpectedly, and few can afford to buy equipment only to have it sit around unused.
Renting is also a sound financial decision in a changing and unpredictable market. If your business sees a seasonal increase or boom in contracts, don’t let a bump in profits result in financial overconfidence. By renting, you can temporarily grow your fleet to keep up with the work without risking an unsustainable commitment.
Renting Construction Equipment Offers A Flexible Advantage Over Leasing
Like buying, leasing presents pitfalls associated with financial commitment. If you lease a piece of equipment but find that you don’t need it for as long as you thought, you’re still on the hook for payments. Buying and leasing are both fixed, long-term agreements that continue whether or not you have the projects — and the revenue — to cover the cost.
For example, if you expect a job to last three months but the customer shortens or cancels the contract, an equipment lease that seemed viable at first may turn into a burden. With a rental, you can often turn the machinery back in without incurring a penalty. Renting keeps you nimble and allows you to bounce back quickly from surprise changes to your schedule.
Renting Caters to Short-term Needs and Specialty Projects
When a job site presents you with a specific challenge, you want to be able to take care of business. Don’t let a gap in your equipment lineup prevent you from securing the contract. Renting helps you meet each project’s needs without having to sink costs into machines you rarely use.
Moreover, if you choose to rent, you won’t be tied to a specific size or equipment model. You can more easily determine the best piece of equipment for each job that comes your way. When asked if your company can accommodate an unusual or specialized task, renting empowers you to say yes.
Renting Eliminates the Risk Associated with Costly Updates
When you buy new, you commit to technology with an uncertain expiration date. Regulations and industry requirements are frequently subject to revision. Manufacturers are continuously innovating to manage and reduce emissions. What was state-of-the-art when you purchased it half a decade ago now may be obsolete in key respects.
As such, it’s wise to be cautious about committing resources to machinery that may soon be outdated, leading to costly mandatory updates. When you rent, your provider takes on the obligation of keeping up with technology so you don’t have to.
Renting Excavators, Skid-Steer Loaders, Telehandlers and Utility Vehicles Solves Equipment Gaps in a Pinch
Even if you’re working with a complete fleet of machines and vehicles that you already own, renting is still relevant. Responsible equipment owners keep track of maintenance schedules and procedures, which can be anticipated. But what happens when an unexpected equipment failure or malfunction threatens to set back your project? Mechanical problems can strike at any time, and equipment rental is a solid backup plan. Know where and how to acquire secondary machinery on short notice if misfortune strikes.
Visit Your Local Bobcat® Dealership Today
Compact Construction Equipment, Inc. is your home for Bobcat equipment in Texas. An innovative and hardworking American brand for over seventy years, Bobcat builds reliable, durable equipment you can trust. As an authorized dealer of Bobcat equipment and parts, we employ knowledgeable, reliable experts who are committed to helping you determine what you need at the best price for your budget. Whether you need to rent for a day or plan to take on a demanding, long-term project, we strive to make a positive impact on your business and its bottom line.
Power your business with Bobcat construction equipment. Give us a call at 855-480-7368 or stop by any of our Texas showrooms — conveniently located in Abilene, Alamo (the Rio Grande Valley), Amarillo, Austin, Buda, Corpus Christi, Kerrville, Lubbock, Marble Falls, Marion, Midland-Odessa, Pleasanton, San Antonio, Temple, Victoria, Waco, and Wichita Falls — today.