When you’re looking into purchasing heavy duty construction equipment one of the biggest questions is often, “Should I buy or should I rent?” The truth is there is no wrong or right answer. There are benefits to both options. We hope in identifying some of these benefits, you can better determine what works best for your crew and your business.

The Benefits of Renting Equipment:

Renting gives you a little more room to roll with the punches and be more flexible as a business. As both work crews and jobs ebb and flow with social distancing guidelines and lifting of restrictions, you can take on more or less machinery as you need to without the long-term financial burden.

If you have long distance jobs, renting can save you the time and cost of hauling machinery long distances.

Renting equipment also helps when there is a sudden boom of new work. You can increase production without maxing out your fleet or having to wait for your current machines to finish a job. Renting allows for less strain on your profits while you continue to book more business.

The Benefits of Purchasing Equipment:

For some businesses, ownership is more of a reality than ever before thanks to lower financing and leasing rates. Purchasing equipment can also be a better solution for certain types of work. Social distancing has created less time in the office and on public roads creating more government projects, residential construction, and business improvements. In addition, landscapers, contractors, and utility companies may experience a boost in work for home and business remodels.

If you expect to see more work in these areas, expanding your fleet allows for more flexibility in meeting new demand while staying fully prepared for the boost in construction work as COVID-19 restrictions are lifted. Each payment option available helps to pay off your investment while adding to the value of your business.

Whether you’re ready to buy or need to rent for the time being, Contractor’s Machinery, Inc. has got you covered with a full range of heavy-duty equipment to meet all your construction needs, not to mention financing and leasing options. Click here to check out our full catalogue of equipment or request a quote today. If you’re interested in renting find out more here.