How To Know Whether to Rent or Buy Industrial Lifting Equipment

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Having access to a reliable industrial lifting equipment company is essential if you want to offer your clients quality construction and maintenance services of any kind. But industrial lifting equipment is a significant investment and it can be difficult to know whether it is better to buy or rent. In this article, we have a look at the potential pros and cons of each option so that you can make a better-informed decision.

Industrial Lifting Equipment

Renting Pros

  • Just rent what equipment you need for each project
  • No need to worry about maintaining or storing the equipment
  • Have the equipment delivered to the job site
  • Renting has a relatively low outlay of costs

Renting Cons

  • You may need to book certain equipment in advance so that you don’t lose out
  • You’ll need to know exactly how long you need the equipment so that you don’t end up paying too much or having to give the equipment back before you are done using it.

Buying Pros

  • You own your equipment and it is accessible to you whenever you need it.
  • Your staff can get comfortable using the exact same equipment for every project
  • Add an asset to your business

Buying Cons 

  • Maintenance costs
  • Finding a secure storage facility for equipment. Storage facilities need to be both large and safe.
  • Insurance costs
  • You’ll need to have capital or you’ll have to take out a loan as industrial lifting equipment is not cheap.

Rent Some, Buy Some lifting equipment

While each project is slightly different, you should find that there are certain types of industrial lifting equipment that you need for most of your projects. In these cases, it makes sense to purchase the equipment you need most regularly and rent equipment that you don’t need as often.

Whether you are looking to buy or rent industrial lifting equipment in South Africa, Sterling Access has you covered. We offer a comprehensive fleet of cherry pickers, articulating booms, scissor lifts, push-around, and more. Our lifting equipment professionals are also able to offer you expert advice and answer any questions you may have, so don’t hesitate to contact us today!