When it comes to construction equipment, you are usually better off renting it than buying it. The number one reason for this is because of price. It costs a ton of money to buy the equipment and it also causes logistical issues. When you buy the equipment, you also need to find a place to store it and you need to transport it from site to site. You will also need to buy insurance for the equipment which is very expensive as well.
- Renting costs less than buying new equipment so it sometimes is best to rent as you will save money and not break your budget.
- When you buy your own construction equipment, you also have to buy insurance for it which is extremely expensive.
- When you buy construction equipment, you also have to take care of the storage as well as the transportation of it which isn’t practical.
“In contrast, renting equipment comes with a fixed monthly cost. This is much more affordable for most contracting companies.”