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Submitted by: Melissa Key
Many contractors do not have the big pockets to buy the suitable equipment and tools required for their job. Other companies may not want to make an expensive purchase before investigating the value and effectiveness of the equipment. Renting or leasing heavy equipment is a means of gaining the use of the necessary equipment with less upfront funds. The choice that is best for the contractor can be determined by the required use of the equipment. Long term leasing is better for equipment needed over an extended period of time or equipment used repetitively whereas rental equipment is better for short-term requirements. Consider the following factors before making a decision on buying, renting, or leasing construction equipment.
One advantage to renting heavy equipment is the opportunity to judge a piece of equipment with little or no additional expense. This is a great way to try before investing in a very expensive heavy equipment machinery. The rental equipment can then be purchased if the equipment is deemed necessary and is economically feasible. If the equipment is not worth the investment or does not increases the overall productivity, the contractor or company can walk away and simply return it to the construction tool rental company and try a different machine or a different brand of the same tool.
Another consideration is the profitability of the company or contractor. If the business is struggling financially, rentals may be more appropriate than a purchase or a longer-term lease. New corporations may wish to choose rented equipment in order to decrease start-up expenditures and that way they can also avail the tax benefits. They can keep renting till they can afford to buy their own or have enough saving to purchase.
Online sales, rentals, and leases are becoming more popular. The Association of Equipment Manufacturers (AEM), an international heavy equipment resource, conducted a study to predict future trends. The evidence supports the conclusion that the purchases of construction equipment from Internet sources will continue to increase. This trend clearly explains the preference given by home builders and contractors.
On-line sources such as auctions, sales, and rental or leasing services, are multiplying day by day. Suppliers specializing in a particular kind of equipment as well as dealers offering a variety of equipment types are becoming more available via the Internet. Almost any kind of construction equipment can now be procured at places such as Machine Mart, Iron Planet, or Contractors Hotline. Brands such as John Deere and Caterpillar are available in addition to the many lesser-known companies. Various companies offer the option of renting or leasing to buy.
Whether on-line, via a catalogue, or at a local company, investigate the manufacturer and vender before signing the rental, leasing, or purchasing agreement. Compare price and quality as well as reputation. Read any reviews available online or any customer testimonials on the web. Thoroughly read any contract before adding a signature. What are the terms concerning returning equipment? Read any fine print. This can reduce an expensive transaction later on. To get the best value of your money sign up on the rental company s newsletter, will give updated information and you are more likely to get a deal whenever the company offers one.
About the Author: Melissa is writing on Kitchen remodeling. Learn at
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