It’s so easy to get lured into buying a shiny backhoe loader. However, before you spend all your money on new construction equipment, you should consider renting instead.
You should think about the risk, opportunity and money involved when you buy or rent a piece of equipment.
Over the years, the construction equipment rental industry has flourished. Below are the reasons why more and more people prefer renting their construction equipment.
The most notable benefits
Renting construction equipment allows you to minimise cost of using equipment. A used CAT 432D can cost around £18,500, while a new 2016 JC 1CX backhoe loader retails at £41,995.
Unless you need the equipment for a long period, it’s more practical to choose a company specialising in plant hire Preston offers. You get to borrow the equipment for a fraction of its purchase price, plus you get to save money on storage fees too. Instead of spending a large sum of money on purchasing the equipment, you can allocate your funds to other more important expenses.
Once you’re through using the equipment, you can return it to the plant hire company. They will, in turn, find other potential clients who need it for their projects.
Another benefit of renting construction equipment is that you can have access to the latest construction equipment. Rental companies invest a lot of money in purchasing the most updated items today. This gives them a more competitive edge against other businesses.
By renting a backhoe or other type of equipment, you can also avoid paying maintenance costs. Before you sign a plant hire deal, check the terms in the contract. Make sure that the rental company will cover the maintenance costs of the equipment.
Moreover, you can deduct your rental fees from your taxes by declaring them under your business expenses.
Things to consider when renting equipment
To ensure that you find the best company, think about the most important thing you need to look at. Do you need to focus on finding a cheap rental service? Are you looking for the latest construction equipment? How long do you need to rent the equipment?
You must also check the availability of the equipment, the proximity of the company to your project location, and the quality of the customer service they provide. They must also provide the required training on how to use the equipment properly.
Don’t forget to share your questions and concerns. The rental store staff can help you figure out which type of equipment you need. In case you need other supplies to complete your project, the rental company can also lend a hand.
Once you’ve figured out which rental company to hire for your needs, you can call their contact number to get a quotation for the equipment. Don’t forget to double check the contract provided. See to it that their contract terms are reasonable.
For many businesses, renting a piece of construction equipment is the best option. If you have a tight cash flow, then you should definitely think about availing of plant hire instead of purchasing brand new equipment.