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Heavy equipment have always been an integral part of the construction industry. It is impossible to be in the construction arena and not get involved with the heavy equipment. And if that is so, then you must be aware of the rising debate between renting of heavy equipment and buying brand new ones.
Renting Vs Buying Heavy Equipment
It is often seen that people involved in construction face a dilemmatic situation wherein, they are unable to decide if renting heavy construction equipment would be a more lucrative option or investing in a brand new one would be better. To look at it, both the deals have their own set of pros and cons that needs to be considered. While renting heavy equipment for a short period of time is quite a good option, buying brand new equipment is better if you are looking for long term utility. Finances are also another factor involved in the whole thing. While renting heavy equipment may seem to be a cheaper alternative in the long run, there is no denying the fact that the overall experience is quite high.
Why Renting Heavy Equipment Is No More A Lucrative Option?
Start up construction companies and even established construction companies have always considered renting heavy equipment a more lucrative option over investing in brand new ones. Things have, however, undergone a change- renting is no longer that lucrative an alternative as it used to be. Let us peek at the reasons as to why this is so?
- The first aspect in the renting of heavy equipment that one needs to consider is the economic aspect of the entire affair. Renting heavy equipment over purchasing a brand new one may seem to be economically lucrative initially, but with the passage of time, it tends to get more expensive. You have to constantly pay for using the machine and as a result the overall expense goes up by a considerable amount.
- If you invest in brand new heavy equipment, then you will have the liberty of using it as and when you wish to. However, if you opt for rental equipment, you have to depend on the rental house renting out the heavy equipment.
- Maintenance becomes another key issue in the entire renting procedure. If the heavy equipment suffer any kind of damage during its rental period, then you will have to pay for the damage done and therefore, comes about an unwanted hike in the expenses.
- There is also the fact that the rented heavy equipment has been operated by multiple operators and as a result, there is always a question mark with regard to the working condition of the equipment.
Along with all of the above factors, there is also the fact that in times of need, construction companies are left with no alternative other than to rent heavy equipment, even if it comes at a price far exceeding its limits. It is, therefore, not at all surprising that the business of renting out heavy equipment is slowly becoming an option less opted for.
