In various industries, mobile plant equipment serves as a workhorse. These powerful machines enhance productivity and efficiency, from transportation to agriculture to mining and construction. You have two main options for acquiring this type of equipment: buying or renting.
Here are twelve reasons to consider renting mobile plant equipment for your next project:
1. Lower Initial Investment
Renting mobile plant equipment demands a significantly lower initial financial outlay than purchasing the same outright. When you rent, you needn’t worry about tying up a hefty sum of money in a piece of machinery. For instance, a new high-quality excavator could cost as much as $200,000 or more, while renting the same might cost around $3,000 to $5,000 a month, depending on the model and rental duration.
2. No Maintenance & Repair Costs
Equipment maintenance and repair can present a considerable expense over the machine’s lifespan. On average, maintenance costs can consume between 5% and 10% of a piece of equipment’s value per year, not counting unexpected repairs.
Renting effectively transfers these costs to the rental company, leaving you free to concentrate on your project without worrying about unplanned expenses or downtime due to equipment malfunction.
3. No Depreciation Costs
When you own equipment, its value depreciates over time. However, as a renter, depreciation costs become a non-issue. You won’t need to concern yourself with questions about resale value or the best time to sell to minimize loss. By renting, you eliminate the depreciation cost and ensure your project expenditure remains predictable.
4. Tax Benefits & Freeing Up Capital
Renting equipment often provides notable tax advantages. In many jurisdictions, you can write off equipment rental costs as a business expense, potentially reducing your taxable income. Besides, renting doesn’t tie up your capital in equipment. That extra liquidity can be channeled into other areas of your business, promoting growth and diversification.
5. Access To The Latest Technology
Rental companies thrive on providing the best and latest equipment to their customers. As such, they consistently update their fleets with advanced technology. For you, it means having access to cutting-edge machinery that enhances project efficiency. For example, modern construction equipment often includes advanced telematics systems, GPS, and automated functions that could improve your project’s precision and pace.
6. Quick Replacement & Downtime Reduction
One significant operational advantage of renting equipment is the ability to reduce downtime. In the event of a breakdown, a reputable rental company will usually replace the malfunctioning equipment swiftly. You don’t have to endure extended periods of inactivity waiting for repairs. Swift replacement means your project timelines can remain intact, and productivity doesn’t suffer.
7. Dependable Expert Support
Most rental companies don’t just rent out equipment. They also offer expert support to ensure you get the best out of their machines. If an issue arises, a team of experienced technicians is usually ready to assist. Prompt, expert support can prevent delays, keeping your project on track and ensuring the equipment runs optimally.
8. Flexibility & Adaptability
A project’s needs and scope can change quickly. Renting equipment affords you the flexibility to adapt swiftly to these changes. Need a different machine due to an unexpected task? Most rental companies can accommodate such changes, providing various equipment options to suit any requirements. Your project benefits from such adaptability, maintaining its momentum without major disruptions.
9. Reduced Storage Needs
Owning heavy mobile plant equipment invariably means grappling with storage issues. Each piece of machinery requires ample space when not in use. Such storage requirements could lead to increased overheads if you need to rent additional space or pose logistical challenges if space is limited. Renting eliminates these concerns. Once you finish with the equipment, it goes back to the rental company, and the storage problem is theirs to handle.
10. Wide Range Of Options
Rental companies typically offer a broad selection of equipment designed to perform specific tasks efficiently. Whether you need a skid steer loader, an excavator, or a mobile crane, you’re likely to find what you need in a rental company’s inventory. This wide range of options ensures you always have the right tool for each task, enhancing your project’s outcomes.
11. Trial Before Purchase
Renting equipment allows you to test various models before committing to a purchase. It’s a practical way to ensure that when you finally decide to buy, you choose a model well-suited to your needs. Renting different models allows you to firsthand assess each one’s performance, reliability, and operational costs, leading to better-informed purchasing decisions.
12. Training & Safety
Renting from a company that offers comprehensive training on its equipment can enhance your team’s safety. Knowledge of proper operation and handling reduces the risk of accidents on site. Furthermore, a well-trained team can operate machinery more efficiently, speeding up project timelines and enhancing productivity.
Harness The Advantages Of Equipment Rental With Mellott Company
Making strategic decisions about equipment can define your project’s success. Renting offers numerous advantages, and Mellott Company is ready to deliver those to you.
With Mellott Company’s extensive industry experience, you gain access to high-quality rental equipment services and expert advice that ensures the success of your project. Contact Mellott Company today at 888.621.8533 or online for premier equipment rental services tailored to your needs.