34 reasons why you should rent instead of buy equipment for your business

KWIPPED is an equipment rental marketplace for business.  We have assembled a global network of suppliers from 17 industry verticals, including  500 product categories, who rent equipment.  We have found that the most common issue a KWIPPED renter grapples is deciding whether to rent or purchase.  Most will instinctively rely on simple financial analysis to aid in the decision, but often overlook other important factors.  Here are 34 reasons you may want to rent vs. purchase.

  1. You need equipment in different locations
  2. You want the latest technology
  3. You do not have the resources to repair or maintain the equipment
  4. The cost of maintenance is too high
  5. You require operators or a service from the rental company to use the equipment
  6. The equipment is being used for an experimental line of business with an uncertain long-term outlook
  7. You want to trial the equipment to make sure it suits your application before you purchase
  8. You can pass the cost of the rental onto your customer
  9. You want access to a wide variety of equipment solutions
  10. You need to preserve operating capital
  11. You have to mitigate equipment usage cycles
  12. You don’t have storage facilities for the equipment
  13. You know the exact cost of the equipment to your business and do not have to allocate costs associated with depreciation, maintenance, facilities, labor, repair, transportation, calibration, and other expenses of owned equipment
  14. You do not have the time or means to sell purchased equipment at the end of it’s useful life
  15. Owned equipment becomes obsolete with no market for used equipment at the end of it’s useful life
  16. You are assured the best equipment for the job
  17. You don’t have to pay any property tax
  18. You will have a lower assets to liabilities ratio which increases your borrowing power
  19. Renting is quicker than purchasing and can save you time
  20. Rental contracts are flexible, short, and absent on long-term commitments
  21. You will avoid license and registration costs associated with owning
  22. Renting offers flexibility to perform projects of various sizes
  23. You can quickly respond to urgent needs or disaster scenarios
  24. Renting allows you to standardize your infrastructure with consistent makes and models.
  25. Renting offers multiple sources of supply, reducing dependency on any one vendor
  26. You will be assured all equipment conforms to safety and compliance regulations
  27. You will reduce insurance expense
  28. You will always receive equipment upgrades
  29. You will avoid blanket liens that effect other assets
  30. Rent is tax deductible
  31. Renting can offer equipment redundancy for mission critical applications
  32. Insurance may cover the cost of the rental
  33. Rentals may include kits, software or equipment combinations that are not available for purchase

Leave a Reply

Your email address will not be published.