Some businesses frequently require heavy machinery for excavating, moving inventory, or other heavy-duty tasks. If you’re running one of these companies, you may be wondering if you should buy or rent the equipment. Although both options offer benefits, equipment rental has a slight edge.

Purchasing Equipment

If your business involves a specific task that can only be performed with a certain piece of machinery, buying may make sense. Additionally, the equipment you’ve bought counts toward your total assets, and can be liquidated if your business needs fast cash. One of the drawbacks of owning is that you’re fully responsible for upkeep. If you don’t have a maintenance schedule in place, you can accidentally damage the machinery, leading to expensive repairs. If you’re thinking about buying, consider equipment rental first so that you can get a sense of which model will serve you best.

Equipment Rentals

If your work frequently involves diverse tasks that require different pieces of machinery, buying them all may be financially challenging. Renting can grant you access to everything you need at a lower price. The rental company will also handle maintenance, and some offer transportation so that you don’t have to worry about getting the equipment rental to your worksite.

Renting is usually a more cost-efficient choice. Even if your business has a roster of equipment, short-term rentals can help you execute multiple jobs simultaneously, quickening project timelines. Rental companies also make regular additions to their inventory, granting you access to newer, more powerful models.

If your business needs a piece of heavy machinery for construction, demolition, or another job, contact the team at Contractors’ Equipment & Service Corp in Honolulu, HI. These professionals provide Oahu’s businesses with equipment rentals, including forklifts and excavators. View their full list of rentals online, or call (808) 676-7566 to ask about their current inventory.