Several advantages accompany buying trucks and vans, especially when using any specialty vehicle consistently. However, renting these vehicles can be more profitable and result in improved productivity while fostering safety on the job. When looking to rent a bucket truck, boom lift truck, or water truck, always consider key specifications, requirements, and capabilities.
That said, here are the key benefits of renting specialty vehicles over purchasing equipment.
Renting Frees Capital
Whether by financing or cash, budgeting for a large, expensive van or truck is a huge capital investment. Besides, owning equipment requires expensive maintenance costs and storage space, limiting work capacity. When you rent bucket truck or other specialty vehicle, the cost is temporary, allowing you to use the capital to grow the business and expand services.
Purchasing specialty vehicles provides access to the equipment at any time until it breaks down. Support a hydraulic component fails on your derrick truck, work stops, and this will require time to repair, which can also be costly. Renting ensures reduced downtimes as you gain access to vehicles that perform optimally without chances of mechanical breakdown.
Most contractors engage in various projects that require different tools and equipment to perform specific services. This makes it difficult to buy all vehicles that offer different services, making it necessary to consider renting. Besides, owning a smaller vehicle will mean double or triple the effort to complete larger projects. When you rent a specialty vehicle, it is easier to achieve more, improving productivity.
Heavy equipment and specialty vehicles receive improved safety features and advanced technology regularly to ensure safety and streamlined operations. Owning old equipment or vehicles means missing out on the latest safety and technology features, increasing safety risks. Renting helps contractors and business owners access new equipment with these features for increased performance and safety.
As a contractor, purchasing an entirely new specialty vehicle to complete a short-term project can be unrealistic. For instance, investing in a boom truck to complete a four-month project is a waste of money and resources. Instead, consider renting or leasing to save on costs while accessing the right-sized equipment for the job. This saves you money and gives you an opportunity to rent bucket trucks, water vans, and other specialty vehicles anytime you have a new project.
Small and medium-sized construction businesses face the challenge of competing with established companies with the newest machines and equipment. With limited capital to buy such vehicles, renting helps meet customer needs by working with reliable, efficient, and up-to-standard vehicles like big companies. You can easily sharpen your competitive edge when you rent a bucket truck, boom truck, or other specialty vehicle for the job.
While owning a specialty vehicle has its merits, renting offers more, especially to contractors and businesses looking to save costs and achieve. Above are some key benefits when you rent bucket truck, water truck, derrick truck, or any specialty vehicle you may need for your next project.