Renting equipment can be an excellent choice for large and small businesses. Equipment rentals offer a wide range of benefits, including extensive flexibility, cost-effectiveness and no maintenance or storage expenses. Of course, some situations are better than others for renting construction equipment. Let's take a closer look at these situations so you can determine when renting equipment offers the biggest benefits for your company.
How to Know if I Should Rent or Buy Equipment
There are many situations in which renting equipment offers significant benefits, including:
- When you only need the equipment for a short time. Whether you buy or rent equipment often depends on how long it will take to experience a positive return on investment (ROI). If you only need a piece of equipment for a short time, you can see the greatest ROI by renting. Rentals are a great choice for short-term operations because you have no commitment after the rental period ends. If you don't need the equipment for more than a season or two, renting tends to be the most cost-effective option.
- When you want to take on new projects or temporarily augment your fleet. One of the biggest benefits of renting is flexibility. Maybe you've had to turn down projects in the past due to not having the right equipment, or the busy season swamps your capacity to meet client demands. Renting equipment can help you find the right machinery for specific or one-off projects and expand your fleet only for the time you need it, whether for a few months or a few days.
- When you don't want to spend too much upfront. A lot of construction firms want to avoid capital expenses, especially small businesses. Rentals allow you to save on upfront costs with manageable, regular payments over a short period of time.
- When you want to try before you buy. Many equipment buyers like to see exactly how a piece of equipment runs and fits into their operation before making the purchase. By renting equipment, you can try things out before you buy, including newer models with advanced technologies.
- When you want to avoid maintenance and storage responsibilities. Not all companies have the manpower and resources for extensive fleet management. Leaving maintenance and storage to the rental provider is an excellent way to offset these costs and simplify your day-to-day operations — no more oil changes, expensive repairs or fluid checks. By partnering with a reputable rental company, you can expect well-maintained, reliable equipment.
If any of these situations apply to your operation, renting equipment may be the best option, especially when you work with a trusted company like The Cat® Rental Store.
OEMs From The Cat® Rental Store
You can find products from more than 70 top brands when you access our dealer network through The Cat Rental Store. If you have a short-term need making it a good time to rent equipment, reach out to your nearest Cat dealer for a solution. In addition to our Cat equipment, we're proud to offer the following OEM brands at our locations:
- Diamond Products: Excelling in the production of saws, blades and coring equipment, Diamond Products creates blades sharp enough for asphalt, bricks, tiles and masonry. The company specializes in concrete core drills, walk-behind concrete saws and hand-held cut-off saws.
- Genie: Genie creates versatile equipment that's used all throughout the retail, construction, government, military and warehouse industries. Genie's line of lifts includes boom lifts, scissor lifts, material lifts and vertical personnel lifts.
- Master Craft: Master Craft is family-owned business that has led the forklift industry for more than half a century. Whether you need a forklift specifically designed for agriculture, construction or manufacturing, Master Craft is here for you.
- Polaris: When it comes to ATVs, UTVs and essential transportation equipment, Polaris is at the top of the industry. Polaris has more than half a century of experience perfecting its state-of-the-art transport vehicles to assist workers in boosting their productivity and performance.
- Trimble: Trimble is a global leader in geospatial equipment that's used for the agriculture, construction and engineering industries. With equipment from Trimble, you can maximize your operational efficiency and productivity while performing leveling, positioning and aligning tasks on your job site.
Renting Equipment From The Cat® Rental Store
Sometimes, renting just makes sense, and the experts at The Cat Rental Store are there to help every step of the way. To learn more about our rental equipment or request a quote, call 1-800-RENT-CAT or browse our online selection today.
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