Benefits of Renting vs. Purchasing Heavy Equipment

December 4, 2018 3:50 am Published by Leave your thoughts

When you need new material handling equipment for your business, such as a forklift, you can choose between purchasing outright or investing in equipment rental in Abilene, TX. Every business is different, and your needs, preferences and circumstances should be considered carefully before you make your decision. However, there are a few basic pros and cons of forklift rental and forklift purchase that you can take into account to help you decide which option is better for you:

  • Cost: Cost is often the primary factor that businesses take into account when they’re choosing whether to buy or rent their equipment. The upfront cost of buying a piece of equipment far outweighs the upfront cost of renting. Even if you finance your equipment, you still have to come up with a down payment, pay interest rates and make regular monthly payments on your loan.
  • Ownership: When you buy equipment, you own it, which means you can decide how you want to use, sell or trade your equipment. This gives you the freedom to make decisions about what to do with your asset that you don’t get when you rent. However, owning your own equipment also means that you are on the hook for any repairs and maintenance, and that can get costly.
  • Return on investment: If you buy your equipment outright, you will be able to sell it and potentially make up some of your costs. Equipment rental is less expensive, but you also lose the opportunity to recoup your costs by selling your equipment. Depending on the specific make and model of your equipment, you may be able to secure a significant return on your investment if you buy your equipment outright and then sell it after several years. When you buy your equipment, you can also deduct it from your taxes under Section 179 of the tax code. However, buying your equipment also makes it more difficult for you to switch to a different model or make if your needs change down the road. Equipment rental in Abilene, TX gives you the flexibility to use different types of equipment that suit your changing needs.
  • Maintenance: When you rent a forklift, you don’t have to worry about handling maintenance and repairs yourself. The forklift rental company is responsible for maintaining the equipment and keeping it in the best condition possible. When you buy, you are completely responsible for maintaining your equipment, and that can be costly and time consuming.

Learn more about equipment rental in Abilene, TX

Whether you want to purchase a forklift outright or you’re interested in equipment rental in Abilene, TX, you can find high quality equipment at V-Bar Equipment Company. For over 20 years, our family owned and operated company has proudly provided a wide range of material handling equipment options for sale and for rent, as well as training and repair service. We know how important it is for businesses to have high quality equipment, which is why we’re dedicated to delivering the best products available. Find out more about what we have in stock by giving us a call today!

Categorised in:

This post was written by Writer

Leave a Reply

Your email address will not be published. Required fields are marked *