Many starting a business are torn between renting or buying vehicles for corporate use. The major deciding factors to consider is your financial situation and the project duration. If you don’t have enough capital to invest in new equipment, and you’ll only be needing the items for short-term use or a one-off job, then it makes better sense to rent. Companies like Rentco offer a fleet of transport equipment that can help you accomplish this goal.
It’s important to analyse how much it’s going to cost your business if you decide to own or to rent. Sometimes hiring equipment is a more practical solution. You may seek advice from a financial advisor for possible tax implications of owning over renting. To help you out further, here are 3 ways that hiring transport equipment can help your business.
1. Affordable
Renting commercial vehicles is an affordable way to get your business moving. The cost of renting trucks, buses, or trailers is usually fixed so it makes good sense to just hire as opposed to buying outright. You can pay a fixed rate daily, weekly, or monthly fee depending on the project scope and duration, making it easy to make budget projections.
You’re also freed from the burden of maintenance and operation costs because you don’t own the equipment. The cost of maintaining a fleet is no joke. On top of preventive maintenance checks, there are regular inspections and compliance standards to adhere to as well. Don’t forget the insurance fees as well. The rental company will be in charge of all the necessary maintenance and upgrade costs so you do not need to worry about that either. Hiring vehicles offers a practical solution to projects with specific long or short-term needs.
2. Reliable
Rental companies offer reliable service by ensuring their vehicles are properly maintained. All the drivers are professional and licensed too. Vehicles are also regularly inspected for compliance standards, depending on the state you’re in.
Rental companies offer 24/7 roadside assist making sure your trips are smooth and safe. In case of emergencies, you and your driver get access to a support system which you can call any time, any where. Clients are assured that the vehicles deployed to them are in tip top condition and are ready to go.
3. Flexible
By renting transport equipment, you can select a vehicle based on your operation’s specific needs. You can hire a truck, a trailer, or light vehicles to aid in your day to day business. Just let the rental company know the purpose of your operation and they’ll happily evaluate and suggest the correct vehicle to use. Businesses are always growing and changing and so do their requirements for equipment.
By renting transport equipment you are assured that you don’t waste money. Imagine buying a small fleet at first, only to find out they’re not enough anymore due to your expanding needs. Rental companies give you the peace of mind to carry out any task, knowing that you’re not limited to the equipment you have. There’s always the perfect tool waiting for you at the rental shed.
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