Owning vs Renting Heavy Equipment

Empire Rental serves Arizona, Nevada, and parts of Eastern California with equipment rentals. Beyond offering Cat^® equipment, we carry solutions from a range of other manufacturers to give renters a vast selection of quality equipment. Our equipment from various brands provides excellent reliability and performance to suit your operations.

5 Factors to Consider for Renting vs. Owning Equipment

Business owners, independent contractors and homeowners must consider the pros and cons of owning versus renting heavy equipment to determine what will work best for their related tasks and financial situation. Evaluate a few factors to feel confident making informed decisions.

1. Price

If you need equipment for everyday operations or long-term use, buying instead of renting may make sense in the long run. When you need to complete a one-time project or only need equipment for short-term use, renting can help you avoid:

• Upfront fees: Instead of buying equipment outright or managing a financing plan, renting can help you save your working capital for operational expenses. Have peace of mind with extra funds for unexpected business costs. 
• Insurance costs: Any time you buy inventory, you'll need insurance covering theft, fire and other perils that could affect your business's assets. When you rent equipment, your rental partner can offer guidance on choosing a rental protection plan (RPP) or a certificate of insurance (COI).
• Maintenance expenses: Maintenance requires the right industry knowledge, skills and tools. You can minimize your requirements or reduce the burden on your in-house staff with a rental partner that keeps equipment operating at peak performance with routine checkups and services. 
• Storage requirements: Large, bulky or irregularly shaped equipment can occupy valuable area in your industrial facility or garage. Renting an item can help you avoid permanent space requirements or long-term storage fees.

2. Project Flexibility

Expand your offerings and pursue different work scopes with a rental partner. Renting heavy equipment allows you to quickly adapt to market or project demands without the long-term commitment. 

3. Access to the Latest Technology

Access advanced features, from GPS guidance to improved safety sensors and fuel-efficient systems. Rental companies frequently update their fleet with the newest models and advanced features, allowing you to improve your performance and efficiency without the high upfront costs. 

4. Technical Support

Ask questions and troubleshoot potential issues with a reliable, knowledgeable partner. A rental company's well-trained technicians often offer expert advice, maintenance services and emergency repairs to minimize project downtime. 

5. Operator Training Programs

Learn essential skills or quickly train your team with safety training and comprehensive certification programs. Many rental companies offer operator training courses to ensure users can safely and efficiently use aerial lifts, forklifts and earthmoving equipment. 

Leasing Equipment vs. Buying 

Some companies offer financing programs to buy their equipment, which can include leasing options. Evaluate the costs for leasing versus buying equipment to see what'll work best for your budget. 

Explore Your Rental Options With Empire

Need daily, weekly or yearly rentals? Empire offers reliable rental equipment in Arizona, Nevada and Eastern California. Find a location near you for fast deliveries and rental equipment services.

Submit a form to request a tailored quote today.