You have a construction firm in Orange County. The time has come to add to your collection of heavy equipment. In particular, you are considering an excavator. A rental is an option, you are considering. However, how do you make the decision? Should you actually buy this piece of equipment or rent it?
Renting an Excavator: Factors to Consider
Before making a decision to rent an excavator or another piece of construction equipment, it is important to ask yourself several questions. According to many professionals living and working in Orange County, California, due consideration must be given to specific factors. Below are several issues you need to address
* Finances: What is the company’s financial situation? In other words
* Does your company possess the amount of capital to purchase? Can it afford to tie up the money you currently have in a single piece of equipment?
* What is the state of your credit?
* Renting is not purchasing an asset. It is a means of improving your credit
* Risk and Cost Reduction: Ownership means addressing such issues as operating costs, maintenance, insurance and risk management. With an excavator rental, you avoid these risks and costs. The vendor is responsible for addressing these issues.
* Length of Project/Job Frequency: For short term jobs and one-offs, rental is best
* Technological Advantage: For the latest rentals are best
* Environmental Compliance: Rentals take care of this worry.
A construction company needs to consider these factors when looking at equipment rentals.
Excavator Rental
If you require a certain piece of equipment, such as an excavator, rental if often the better option. In Orange County, companies often find this to be the better option. This may be the solution for your company. However, it is important you always look at such factors as financial, availability, risk reduction and overall cost to the company of renting versus purchasing before you make a decision.
