Equipment Rentals May Be the Way to Go in 2022
Rent or own? When it comes to expensive construction equipment, there are pros and cons to both. But in this economy, renting is the business owner’s pathway to freedom.
Renting frees up your capital: Every business needs to consider saving capital from all angles, and upfront fees are the places to start. Although there are tax advantages to buying equipment, rental fees can be passed on to the customer and can be deducted from your annual expenses at tax time.
Renting frees up your maintenance and storage: Every minute and dollar you spend babying that equipment can go toward business transactions instead.
Renting frees up your options: Locking into the technology of today’s equipment could be the death of your construction business tomorrow. Lindsey Anderson, editor of Access, Lift and Handlers (ALH) Magazine, makes these predictions for the future of heavy equipment: (www.constructconnect.com)
- Digitization of rental commerce and operations
- Adoption of telematics for improved preventative maintenance
- Advancement of VR/AR for improved training in alignment with the new ANSI standards
- Adoption of semi-autonomous equipment for safer inspection and operation
- Growth in telehandler sales leading to smaller fleets and higher utilization
- Adoption of 100% hybrid and electric fleets
Heavy equipment is going green and clean. The technology is improving constantly, and state-of-the-art machinery means greater productivity. Rather than committing to a machine for years to come, it’s a great time to rent so that your business can progress with the industry standard.
The American Rental Association predicts a 12.3% growth in construction equipment in 2022. In this economy, renting is an exceptional option for the success of your business, and CMI-Case is committed to that success.