Contractors’ success depends on their ability to provide prompt, effective service without sacrificing profits. Every decision they make, from buying equipment to hiring subcontractors, affects the bottom line. At Mountain West Rentals & Sales, it’s our goal to give contractors the equipment they need to do the job. If you’re uncertain about the process, consider these benefits of equipment rental.
Accessing Advanced Equipment
When contractors use a range of machinery types, renting may be cheaper than buying. With rental equipment, companies can access the right tools without locking themselves into a lengthy payment term or complex purchase agreement. If a company’s space, usage, and budgetary constraints are a concern, equipment rental offers a cost-effective solution.
Reducing Overhead by Cutting Storage Costs
Having the latest equipment at the ready is great, but it also requires the availability of storage space. Renting space or buying land adds overhead costs, and storage itself can be a complex process.
If a contracting business lacks the space and storage capacity for all its equipment, renting might be a viable alternative. With rentals, users can have equipment transported to and picked up from their jobsites, and terms can be customized to fit companies’ needs and project timelines.
Saving Money and Time on Maintenance
While there’s much to be said for equipment ownership, all tangible assets come with responsibilities. If, for instance, a company owns a piece of heavy equipment, someone will have to maintain it to protect the investment and ensure its continued function. Other factors, such as operating costs, regulatory compliance, and insurance, also add to the cost. Renting equipment allows contractors to enjoy the benefits of ownership without the extra hassle and expense.
Taking Equipment for a Test Drive
If you’re uncertain about which kind of equipment is best for the business, rent it and test it out before buying. Renting equipment may help a contractor avoid making an expensive purchase and suffering from buyer’s remorse. With a rental program, any contractor can find the right equipment without the high upfront investment.
Reducing Startup Costs
The cost to get a business up and running can be staggering. For entrepreneurs on tight budgets, equipment rental may be a great option to cut costs while establishing a firm financial footing. Once that occurs, it will be much easier to buy the equipment the company needs.
When considering the purchase of construction equipment, you’ll also need to think of depreciation. All equipment loses value with time, and because it is subject to significant wear and tear, construction equipment depreciates quickly.
Depreciation cost doesn’t just affect the day-to-day balance sheet; it also affects a company’s taxes. It brings significant financial losses, which make it hard for companies to recover their original investments. By comparison, the cost of an equipment rental can be deducted—which increases tax savings and reduces the potential for liability.
Learn More About Equipment Rentals Now
If you’d like to learn more about the benefits of construction and excavation equipment rental, we are here to answer all your questions. Reach out to the team at Mountain West Rentals & Sales by phone or use the online form to request additional information. Whether it’s big, small, or somewhere in between, we’re here to make your next job a success!
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