Three Lesser Known Benefits Of Using Contractor Equipment Rentals For Your Next Construction Project

Having the right tools and equipment is a must in the construction industry. The right tools can help you to complete your project faster and more efficiently. But one of the decisions you have to make is whether to buy or rent contractor equipment, such as excavators, skidloaders and scissor lifts. There are many well-known benefits associated with renting equipment over buying it, such as not having to pay large amounts of money upfront and not having to the responsibility of maintaining the equipment. But there are a few lesser-known benefits as well. Here are three of the lesser known benefits of using contractor equipment rentals for your next construction project. 

You Don't Take a Depreciation Hit

Many companies do not realize that construction equipment depreciates in value as soon as you purchase it and remove it from the manufacturer's lot, just like when you buy a new car. As such, one of the benefits to renting contractors equipment is that your company is not saddled with this large depreciation hit. The depreciation hit can vary depending on the exact type of equipment, the region you live in and demand for that piece of equipment. If you are looking for a piece of equipment, but don't want to take the huge depreciation hit, consider rental your contractor equipment. 

You Aren't Stuck With Outdated Equipment

Another of the lesser known benefits of using contractor equipment rentals for your next construction project is that you are not stuck with outdated equipment. Contractor equipment changes each and every year, once again, just like an automobile. And every year, the newest model features new technology, new safety features and new features that help to make the equipment more efficient. When you rent equipment, you can easily rent the newest model of equipment. But when you purchase equipment, you can wind up with outdated equipment after several years. 

Rental Prices Are Becoming More Competitve

The last benefit associated with contractor equipment rentals is that rental prices are becoming more competitive. In the past, there have been a handful of large companies that have rented out contractor equipment. But thanks to technology, more businesses are able to put up a website and rent out either the equipment that they own that they are not using or start their own businesses and compete against the larger companies. More competition results in lower prices for you, the renter. This helps to ensure that renting is a great deal for most businesses. 

If your construction company needs contractor equipment for a job, you have a big decision to make. You can either purchase the equipment or rent it. Taking the time to consider all of the benefits will help you determine which is the best option for your company. For more information, visit websites like