If your business needs transport equipment, you have two real options available to you. You can rent the equipment that you need from a company such as http://www.rentco.com.au/portfolio/trucks/, or you can purchase it.
Buying and renting both offer advantages and disadvantages. You’ll want to compare the perks to the drawbacks before making a decision.
Buying Equipment Is The More Expensive Option
If your finances are tight, renting is probably the best option for your business. While there are affordable purchase options — like buying used — rentals usually require you to spend more up front.
It’s important to remember that you won’t just have to cover the initial cost of the equipment that you buy. You’ll also have to pay a number of fees. For example, you’ll need to have insurance for your equipment, and you may have to pay licensing fees as well.
That stated, if you’re going to be using this equipment consistently, you may spend more renting in the long run. Crunch the numbers and determine the option that makes the most sense for you financially.
Buying Means That You’ll Always Have Access To The Equipment You Need
When you purchase transport equipment, that equipment will always be available to you. If you own your own equipment, you’ll be able to use it at any time, day or night. If a job falls into your lap at the last minute, you won’t have to worry about renting the necessary equipment; you’ll already have what you need.
Of course, 24/7 access isn’t necessarily something that every business needs. If you don’t need to use transport equipment very often, having this equipment ready and available to use might not benefit you in any significant way.
When you own equipment like this, you’ll have to be prepared to store and maintain it. The convenience of owning your own equipment may not be worth the extra hassle. Consider your situation; think about what is best for your business.
Renting Gives You Access To A Wider Range Of Equipment
When you rent your equipment, you won’t be limited to using the same kinds of equipment over and over again. Instead, you’ll be able to select the equipment that is best for the job at hand. If desired, you can rent a different piece of transport equipment every time.
If your business works with a wide array of clients or handles many different kinds of materials, you may appreciate being able to select transport equipment that’s well suited to the task at hand. If you tend to take on the same kinds of jobs over and over again, you might not need to change the equipment that you rent. A single piece of transport equipment could cover all of your needs.
Compare the costs of buying versus renting. Look at some of your other options, like buying used equipment. Find the option that makes financial sense for you and your business. Whether you rent transport equipment for your business or buy it outright, you should be completely satisfied with your decision.