Renting vs. Buying Access Equipment: What is Right for You?

Once, your only real option when it came to acquiring access equipment was to purchase whatever you needed. These days, though, there is a new trend emerging – renting out the equipment that you need. So, with both of these possibilities in front of you, you are probably curious about which avenue is best. Well, to help you make up your mind, consider some of the information below. It should help you to make a more informed decision regarding your selection.

How Often Do You Complete Such Jobs?

The primary point to focus on is just why it is that you need a certain piece of access equipment like an electric scissor lift. For instance, are you a construction company who only relies on such machinery occasionally? Or, does your business deal solely with height-related projects? If your business falls into the former category, then a rental agreement sounds like the best route for you. Since you will not need to use such machinery all that often, it doesn’t make sense to make a long-term investment. On the other hand, if you always need some kind of access equipment on hand, then a purchase is a better idea. 

Do You Need the Most Up-to-Date Equipment?

The other question to ask yourself is whether you are in constant need of the most up-to-date machinery. If the answer is yes, then you may want to stick with hiring your equipment. Understand, companies that provide you with these options often have the newest or best versions. As such, you will be able to pay a fair price for truly advanced models. If this isn’t all that important to you, however, then you will be able to make do with the older models. So, you may want to buy the equipment instead.

Do You Have the Necessary Transport or Storage Facilities?

Make no mistake access equipment is large and bulky. So, if you are going to own such pieces of machinery, you are going to need the appropriate amount of space to store these items. On another note, you will need to find a way to transport this machinery as well. Due to this, you need to first sort out these requirements before actually purchasing the equipment. Of course, if you want to rent it out, then there is no real need to deal with such details.

Are You Willing to Handle Long-Term Costs?

Most people assume that the only cost involved in purchasing access equipment is the sticker price. This, however, isn’t actually true. See, you need to be able to pay for maintenance costs, repairs, and more. As such, you will need to factor in these expenses into your budget. When renting out equipment, however, the rental company will take care of such tasks for you. As a result, there are fewer costs for you to absorb.

Now, you have heard both sides of the argument. Therefore, you should find it fairly easy to determine whether you should rent or buy your access equipment. The choice is now completely in your hands so make your selection wisely.

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