Renting vs. Buying Compact Equipment
In industries like construction, concrete, landscape and forestry, the tools and equipment you choose can be paramount to the efficiency and quality of your project. And when it comes to compact equipment, the decision to rent or buy is an important one. However, there are benefits to both. We’re here to help guide you to the best choice for your business.
Renting
Renting equipment is an affordable and easy way to test out the type of equipment you want to eventually purchase one day. In addition, Emery Equipment provides a wide array of products and brands to choose from including Bobcat, meaning you get the best selection of equipment possible.
Savings on Initial Investment
One of the most glaring advantages of renting is the immediate relief from the upfront investment that comes with equipment ownership. Instead of depleting your capital, you can move your resources elsewhere, helping your business stay agile.
Maintenance and Repairs
When you rent, you're not having to cover the burden of maintenance and repairs. That means no unexpected repair bills eating into your profits. It's like having a reliable partner that takes care of the nitty-gritty while you focus on your core tasks. And with Emery, you get access to our full-scale service department that is always available to help with equipment malfunctions or replacements.
Adaptability
Every project is unique, requiring different tools and equipment. Renting from Emery offers access to a diverse fleet, ensuring you have the right equipment for the job, no matter the scale or complexity. Similarly, if you only need a specific piece of equipment for a one-off job, it might be better to rent than to invest in machinery that won’t be put to consistent use.
Leasing
Leasing construction equipment is another great option when you’re not quite ready to buy yet. It can be particularly useful for longer-term projects where you’ll need the equipment over many months. Here’s how leasing can be beneficial for your business:
More Options
Leasing equipment allows you more options and control over the equipment. You sign a lease contract for a specified period of time at a fixed cost each month. When the contract term is over, you have the option to renew your lease, upgrade the make and model or purchase the equipment outright.
Convenience
When you purchase a piece of equipment, you’re responsible for maintenance, upkeep and even storage. However, when leasing, Emery handles regular upkeep and maintenance, making sure your equipment is running smoothly and efficiently. As for storage, you don’t have to find a permanent storage solution after your project is complete. A building to store large equipment can be extremely costly and require land and space.
Buying
Buying is a great way to save money in the long run and a great way to add to your company’s inventory. It’s perfect for jobs or projects where you’ll be using specific equipment consistently. Maybe you’ve rented equipment for a while and now you’re ready to buy. If that’s the case, Emery is here to help guide you through the buying process.
Building Equity
Owning equipment is like building equity for your business. As you make payments, you're steadily increasing your assets' value, making your company more robust and valuable. When you’re able to provide this advanced technology from your own inventory whenever and wherever you need it, you raise your value from what you can offer.
Long-Term Investment
For those with consistent equipment needs, ownership can lead to long-term cost savings. As your equipment ages, your costs decrease, while the value of your assets remains. Similarly, if you know you’re going to be using a specific piece of machinery on a consistent and steady basis, it makes sense to invest upfront and save money in the long run.
Tailored to Specific Needs
Sometimes, a project requires a highly customized approach. Owning your equipment gives you the freedom to adapt and customize machines to meet the unique demands of your job. Emery offers attachments for your equipment in the event you need a little extra assistance. This is perfect for projects that might require more from your machines but aren’t necessary to have in your own inventory.
All About Balance
Assessing your individual needs is key to finding the right balance between renting and buying. Consider the frequency and variety of your projects, your budget and your long-term goals. It's not a one-size-fits-all decision and each has their benefits.
If you have any questions regarding renting versus buying or the different types of equipment on the market today, don’t hesitate to reach out to Emery! We’re here to help guide you through the process of finding the best option for you and your company. Contact us today or stop in at our location on Airline Hwy to take a look at our incredible inventory.