Buying heavy equipment on behalf of your business is going to require you to make a very big investment. If you want to purchase, say, a pipelayer, you will need to be prepared to shell out more than $500,000 for one in many cases, even if you decide to go with a used one.
If you know that you’re going to need to use different types of equipment early and often, there is nothing wrong with investing in new equipment. But renting heavy equipment will also be an excellent option for you. This will be especially true for those companies that only need to utilize heavy equipment every so often.
Today, we’re going to provide you with a list of the biggest benefits of renting heavy equipment. It’ll show you why you should strongly consider renting equipment as opposed to buying it outright.
Continue reading to see why renting different equipment options might be the best choice for you and your business.
5 Biggest Benefits of Renting Heavy Equipment
Renting heavy equipment so that your company can use it for a relatively short period of time might make all the sense in the world. It’ll help your bottom line in a big way and make all your company’s projects a lot more manageable than they would be otherwise.
You might also have an opportunity to buy heavy equipment that you find useful after renting it. Here are all the five biggest benefits of renting heavy equipment.
1. Lower Capital Expense
As we alluded to earlier, buying heavy equipment is going to put you in a position where you’ll have to spend hundreds of thousands of dollars on a single piece of equipment all at once. Not all companies are going to have the capital to be able to do this.
If your company falls into this category, you might not be able to tie up so much capital for many years to come. It could limit what your business is able to do in a financial sense and make it difficult for your company to grow over time.
When you work with an equipment rental company to rent heavy equipment rather than buying it, it’ll enable you to free up cash so that you can spend it on other things. You won’t have to worry about being cash-poor because of all the equipment that you’ve purchased.
You could make the argument that this benefit alone makes renting heavy equipment a much better option than buying it. You’re going to be able to set your business up for future success when you make the decision to rent the heavy equipment that your company needs.
2. Predictable Costs
If you choose to buy heavy equipment instead of renting it, you’re going to need to pay for more than just the equipment itself. You’re also going to have to begin to set money aside to pay for heavy equipment maintenance and repairs. This can potentially take a big toll on your company’s monthly finances.
When you rent heavy equipment, you won’t need to be concerned about doing any maintenance or repairs to it. The company that you rent it from will be in charge of maintaining and repairing it, which will be a big weight lifted off your shoulders.
You will be able to more accurately predict what your company is going to have to spend on heavy equipment each year when you rent it. You’ll appreciate the fact that you won’t have to try to guess how much maintaining and/or repairing heavy equipment is going to cost you at any point.
3. Equipment and Service Where You Need It
If your company is constantly working on job sites that are scattered throughout your state and/or the country, you’re going to need to arrange to get the heavy equipment that you’ll need delivered to the sites.
As you can probably imagine, this is going to be a huge hassle if you own heavy equipment and have to transport it yourself. Outside of the fact that transporting heavy equipment all around the country is going to cost you a pretty penny, it might also prove to be a logistical nightmare for you and your employees.
By renting heavy equipment through the right company, you’ll be able to get your hands on the equipment you need in just about any part of your state or the country. This company will have the equipment that you’re looking for somewhere in the general vicinity of your job sites and will be able to deliver it directly to you.
This company will also be able to come out to your job site to service your equipment if necessary. You won’t have to be worried about taking this on yourself at any time.
You will be able to focus more on the tasks that you’re trying to tackle on your various job sites versus worrying about how you’re going to get heavy equipment that you own to these sites.
4. Access to a Large Variety of Equipment
It’s simply not going to make a whole lot of sense for you to buy every single possible piece of heavy equipment. There might be some equipment that your company will only need to use once or twice every six months, if that.
If you know that your company is going to need heavy equipment every day, you might want to consider going ahead and buying it. But otherwise, you should count on a heavy equipment rental company to provide you with equipment on an as-needed basis.
A great heavy equipment rental company will be able to set you up with a variety of equipment options, including:
- Articulated trucks
- Water trucks
- Wheel loaders
- And more
There isn’t going to be any shortage of options for those companies that need to rent heavy equipment. You should be able to get your hands on whatever it is that you need through the right heavy equipment rental company.
5. Build Equity With Rental Purchase Options
Some heavy equipment rental companies will provide you with rental purchase options (RPOs) when you obtain equipment through them. What this means is that you can try out equipment and apply a portion of your rental fees toward the purchase price of heavy equipment.
By doing this, you’ll be able to see whether or not you like a particular piece of heavy equipment before you go and spend thousands of dollars on it. You can spend a few weeks or even a few months renting it and putting it to good use before making a decision on buying it.
If you don’t find a piece of heavy equipment to be as useful as you thought it would be, you can decide not to buy it in the end. But if you believe it’s going to be a worthwhile investment after renting it, you can work out a deal to buy it while putting a portion of your rental fees toward the purchase price of it.
This is a fantastic way to use heavy equipment rentals to build up equity in the heavy equipment that your company needs. You shouldn’t be shy about asking a heavy equipment rental company if they would be willing to extend purchase options to you.
Which Heavy Equipment Rental Company Should You Trust?
Now that you know all about the many benefits of renting heavy equipment, you might be interested in giving it a try. But a word to the wise: You shouldn’t agree to rent heavy equipment from just any old company.
Instead, you should search for an equipment rental company that has the following qualities:
- Plenty of experience within the heavy equipment industry
- A great reputation among companies that have rented heavy equipment from them in the past
- A large variety of heavy equipment rental options
- Locations scattered throughout the country to accommodate companies from all over
- A thoughtful and caring approach to customer service
- Heavy equipment rental prices that your company can afford
Basically, you will need to have a heavy equipment rental company like Worldwide Machinery on your side. We’ve been helping companies rent heavy equipment for more than 70 years now and have over 1,500 pieces of heavy equipment available.
How Much Does It Cost to Rent Heavy Equipment?
If you would like to rent heavy equipment through Worldwide Machinery, we make it very easy for companies to do it. We can provide your company with a quote quickly so that you can decide if renting heavy equipment will be the best option for you.
To obtain a heavy equipment rental quote, all you’ll need to do is let us know:
- Which type of heavy equipment you would like to rent
- When you will need to rent heavy equipment and how long you’ll need to keep it for
- Where you will need to have heavy equipment delivered
- How we can get in touch with you
From there, we will crunch the numbers and let you know how much it’ll cost you to rent heavy equipment. We can also speak with you further about the purchase options that we can provide if you think you might be interested in buying a piece of heavy equipment down the line.
How Soon Can You Rent Heavy Equipment?
If your company has a big project that is set to start sometime soon, you might be concerned about how quickly you will be able to rent heavy equipment from us. This shouldn’t be a problem at all.
We have locations set up all throughout the country. It enables us to provide companies with heavy equipment rentals whenever and wherever they would like.
It doesn’t matter if you’re interested in renting an excavator in North Dakota or a dozer in Texas. We have what you need and can get it to you as soon as you would like.
You likely have a million and one other things on your plate that you need to deal with right now. We can help you to put together plans for an upcoming project by ensuring that you’re able to obtain the heavy equipment rentals that you need.
All you have to do is use our quote builder to provide us with some additional information about what you need and where you need it. We’ll get to work after that and figure out all the logistics associated with helping you land the right heavy equipment. We’ll also do it while allowing you to stick to your budget so that you don’t spend more than you can afford on your equipment costs.
After you’re done renting heavy equipment through Worldwide Machinery, you’ll wonder why you didn’t decide to do it so much sooner. Our goal will be to provide you with an excellent experience from start to finish so that you’re able to see the value in renting heavy equipment.
Contact Us Today to Rent Heavy Equipment for Your Next Project
Would you like to get more information on the benefits of renting heavy equipment? Or do you want to secure a quote for a heavy equipment rental?
Either way, you’re more than welcome to give Worldwide Machinery a call for all your heavy equipment rental needs. We’ll make it so simple for you to track down heavy equipment so that your company can use it to finish your next project.
Contact us today to speak with a representative about renting heavy equipment from us.