- Construction Equipment – Rent, Buy or Lease?
When it comes to acquiring construction equipment for your commercial construction company there are a number of factors to consider when it comes time to decide whether you rent, buy or lease. The first thing to consider is how often the piece of equipment will be used. This includes looking at your current needs and workload as well as factoring in your projected future needs. If you are using the equipment 60 percent of the time or more than you are better off buying the equipment or choosing a lease to own option. If the piece of equipment is something you are only planning on using occasionally or seasonally or if it’s a piece of specialty equipment that you only need for a small number of jobs you should probably consider renting. Other factors to consider include calculating all associated costs, transportation of equipment, repairs and maintenance, working capital, depreciation, and resale value. Continue reading “Rent vs Buy Analysis – Construction Cost Management!”