To RENT or To BUY? Which One is Better For You?

There are many opportunities to rent the tools/equipment you need rather than purchase. Often times, it can be more convenient and cost effective – what every project manager needs. Rather than bore you with a long article on the pros and cons of purchasing or renting, we’ll keep this short and sweet and in point format so you can get back to doing what you do best.

Advantages of Renting

Companies and people rent equipment for a number of reasons:

A - Saves money in many cases

B - Caters to short-term equipment need

C - Provides specialty performance

D - Satisfies temporary production increases

E - Fills in when regular machines need maintenance or fail

E - Helps meet deadline crunches

F - Expands machine inventory

G - Increases overall capability when and where needed

H - Eliminates responsibility of testing, maintenance, service

I -  Makes the project schedule easier to manage with on-demand resources.

Advantages of Purchasing

1 - You own it.

2 - That machine is always available when you need it, no need to schedule jobs based on when you can rent a specific piece of equipment.

3 - Financially, it’s a better option if it’s a piece of equipment you use frequently with little down time and in a reasonable time period (to avoid becoming obsolete).

 As you can see, there are a lot of considerations when deciding whether to rent or buy. Renting allows you to allocate dollars to other parts of the project for a higher return on investment whereas owning your own equipment can tie up more funds for an extended period of time. When it comes to purchasing, looking ahead to the future to ensure you are getting the most use out of that piece of equipment will be critical.

The team at Rayneau Rentals and Sales is always ready to answer your questions and help you find the right piece of tools/equipment to rent or purchase. Call us at 450-RENT for moe details.