The Cost and Value of Renting Equipment
If you are in the market for new equipment, it can be a difficult decision to make. Do you buy or rent? If you are on a budget, renting may seem like the best option. There’s no need to worry about depreciation of your asset and there is no risk that it will go out of date before you finish using it. Renting also saves time for those who don’t have enough space at home or work to store all their equipment!
Some drawbacks of renting that you should know about are the time commitment, in some cases there can be limitations on what equipment is available to rent and it may cost more than buying used or newer models. You need to research the company you are renting from to make sure they have the right equipment for your needs!
There is a lot of information out there about buying versus renting – what’s best? Ultimately it comes down to your budget and specific circumstances such as availability or room storage. There are benefits of both so do some research before making a decision based on personal preference rather than facts!
How much money can renting equipment save you?
This answer will depend on many factors like: how long will you keep your rented item? How much would it cost to buy a new, used or refurbished item? What is the rental price? Does the company offer discounts for renting and if so what are they? For how long will you be renting? What is the resale value of your item if not rented out again? If you have any questions about whether renting would work for your situation, contact The Hire Guys Balcatta today!
The answer will also depend on how often, and for what duration, it would cost to rent. If you’re only going to use an item for a day or two here and there, then that could be more expensive than owning it long-term.
However, renting equipment can be a great alternative to buying it outright if you need something for just one event or project and then won’t use the item again. It’s usually preferable to buy a used piece of equipment than new because they are typically cheaper.