When it comes to construction equipment, you have several options: either rent, buy or lease. Out of the three, most experts will tell you that leasing is actually the best choice. But is there a clear-cut reason why? Also, what is the real difference between renting and leasing your equipment?
Now, from the start, buying your construction equipment will give you full freedom over its use. However, buying is expensive, and it won’t give you any kind of guarantee. If the equipment breaks, it’s only your responsibility to fix it or to replace it, so you won’t have anyone helping you out with that.
Renting gives you more flexibility, although it’s still much more expensive than a lease. You will need to take a careful look at rental payments and compare them to find the best prices. Moreover, you’ll also have to take into the account how easily available the equipment will be at any given time, and the fact that it might not even be available on the week you need it most – because of high demand.
Leasing through Colorado vehicle leasing companies is the best option because it’s a very cheap and versatile one. Leasing combines many of the benefits of buying and renting, since it frees up capital, doesn’t require the use of credit lines, and makes it easier for you to skip payments on slower months. Also, it’s important to note that getting an operating lease will also free you up from having to do any maintenance or pay any taxes on the equipment you lease.