In response to the additional questions we received from our last blog post “Leasing vs. Buying Capital Equipment,” we will address leasing in more depth here. It is true that we lease everything from cars to apartments to DVDs so why shouldn’t we lease building construction equipment too? Let’s take a look at some of the advantages of renting building construction equipment.
- Try It Before You Buy It – Are you deciding to make the move to a Robotic Total Station but are not sure which of the Trimble models best suits your business? Do I need long-range? Do I need the video camera on my RTS so layout is easier? Why not rent one or two of the Trimble RTS units available so you can decide what is best for you?
- Sporadic Usage – Sometimes we use a piece of equipment every day. Other times it may sit for weeks without being touched. Is it something that can be rented on an As-Needed basis? This can free up much needed storage space, financial responsibilities of ownership, and technological obsolescence.
- Inventory – If the equipment is rented, you do not have to carry it on your books. Therefore, you do not have to absorb the depreciation. When you rent, those costs are the responsibility of the equipment owner.
- Up-to-date Technology – Updates to software, hardware and firmware are handled by someone else and are not your responsibility. You do not have to have someone responsible for the latest and greatest version available being downloaded and installed on your equipment. It is already up to date and ready to go when you pick it up.