When you need a piece of equipment you don’t already have, you’ll need to make a choice about whether to rent it for just one job, or buy it outright. If you expect to use the equipment for at least 60 percent of your work, then it is usually more cost effective to buy it. However, another consideration is maintenance, since rental removes the need to perform it yourself this could be more beneficial for you to rent. Storage is also a factor and it may be more efficient to rent than to store gear you don’t use much.
- Two options that one can choose from when he needs a big job to tackle but doesn’t have the tools for it is to rent it or buy it.
- A good rule of thumb whether to rent or buy is the 60 percent gauge. If you will use it less than 60 percent of the time, simply rent it.
- One factor that must be considered when thinking of buying equipment is whether one has the time and money to maintain them. Renting may be a more cost effective solution in the long run.
“If you need a tool or machinery for a one-time, unique task, it’s usually best to simply rent what you need.”