Financial and Risk Control Advantages of Rental Equipment
Whether you need to fill gaps in your fleet for short or long-term projects or want to stay afloat when a machine breaks down, renting heavy equipment can keep your operations running with minimal downtime. Without the commitment of investing in a new unit, renting provides incredible advantages to give you a competitive edge.
At The Cat® Rental Store, we are here to help you learn how renting can help you reduce risk and maximize your budget.
Reduce Risks by Renting Equipment
When you partner with a reputable rental equipment dealer, you have access to a range of machines loaded with the latest technology. Minimize risk with rental equipment by cutting costs and relying on serviced and maintained engines. Renting is more than just an affordable option — you receive top-quality, modern units that are up to par with the highest operating standards.
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1. Avoid Market Fluctuation
Markets fluctuate no matter your sector, whether that's construction, forestry, quarrying or material handling. It’s a challenging task to keep up with continuous change as new machine costs rise and fall. The number of jobs you obtain can alternate with changes in the industry, making it difficult to know when it’s ideal to invest in new engines.
Renting is a reliable solution because you pay for what you need with no commitments. Dealers deliver flexible options to help you maintain your operations and handle the shifting market.
2. Control Liabilities
Renting an asset doesn’t show as a liability and helps reduce taxes when you have rental bills on your balance sheet. It also boosts credibility and lowers your insurance and finance charges. Renting aids in improving cost control by decreasing maintenance and transportation costs.
3. Avoid Depreciation Costs
Depreciation costs go hand-in-hand with buying new equipment. Over time and use, a machine loses its value because of consistent wear. Depreciation makes it more challenging for you to recover your costs if you sell your units. With renting, no depreciation costs exist. Instead, the dealer maintains each unit and handles all the logistics.
4. Finish Jobs in Remote Locations
Most companies have clients near their base, but you can also have jobs that take you farther away. If you want to avoid excessive transportation costs, you can rely on rental equipment for projects in remote areas. Instead of driving your equipment out to a far-away worksite, you can pick up rental equipment at a facility near the location of the job.
5. Perform Limited Maintenance and Reduce Repair Costs
Owning heavy equipment means you need to conduct your own maintenance and repairs, which takes more time and money compared to relying on your dealer for support. When you rent equipment, technicians from the rental company are responsible for upkeep and repairs. You don’t have to worry about parts, mechanics, records, registration, licenses and inspections. The professionals keep each rental unit up to par with safety regulations and optimum operating levels.
6. Remain Productive When a Machine Breakdowns and Scheduled Maintenance Occurs
When a breakdown happens in the middle of a job, the worst thing you can do is wait for maintenance and repairs to finish. This affects the downtime of your projects, and more significant rebuilds can take several days to complete. A fast and simple solution is to rent a machine to get you back to work. You can replace the damaged equipment to remain efficient. When you need to swap engines, your dealer can help you find the right solution.
Scheduled maintenance can also affect the productivity of a task, but rentals can help you remain efficient. Every machine needs an upkeep schedule, so you can plan and rent equipment as a reliable backup to avoid downtime.
7. Try Various Equipment Types
If your main goal is to buy, you may be unsure which specific make and model best suits your line of work. Renting allows you to try various machines to get a feel for how it handles and operates before investing in a new unit. It gives you time to learn about the equipment’s controls, hydraulics, fuel efficiency and other components.
Rent-to-own options are also available in which your rental fees go toward the final price. It’s the best hands-on experience to help you make a decision.
8. Find Solutions for Specialty and Occasional Projects
One-time jobs often demand specific machines that aren’t in your fleet lineup. Rentals provide solutions for specialty projects and help you find the necessary equipment for each job. Having the right engines will boost the uptime and productivity of your operations. Never force your current equipment to perform tasks outside their range because it can damage the engines and increase safety risks.
Renting may also be the best option when you don’t operate the machine every week or month. Occasional use is better paired with rental solutions, giving you the freedom to rent what you need for a specific amount of time. As compared to having a fleet you don’t need regularly, renting support units is more reasonable and can save you money.
9. Succeed With a Versatile Fleet
As compared to buying new or used machines, renting gives you more diversity and adaptability to switch between different makes and models depending on the projects at hand. Renting provides more uptime, efficiency and output with a mixed and rotating fleet that adapts to various tasks.
10. Support Your Fleet During the Busy Season
The busiest season of the year can be spring, summer, fall or winter, depending on your industry. By investing in seasonal equipment, you can gain extra machines to support your surge in projects. It can mean the difference between increasing your number of clients and remaining the same. When you need specific units for weeks or months at a time, flexible rental contracts can aid you in boosting productivity.
The global market for construction equipment is predicted to reach about USD $174 billion by 2026. As renting solutions continue to support industries across the board, you can rely on the experts to assist you in reaching your expectations.
A Streamlined Process for Rental Solutions
Partnering with The Cat Rental Store gives you access to our entire inventory of Cat machines and work tools and equipment from more than 70 other brands. We have the solutions you need with more than 1,300 locations worldwide to support you wherever your operations are. Our skilled team knows the applications and technology of each machine to provide flexible rental agreements. We work to understand your requirements and offer rentals with the latest advancements.
Take a look at our rental equipment or request a quote online for additional information.
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