Bobcat Equipment: Is It Better to Rent or Buy?
Choosing the right tools for your business is crucial to its success. Whether you’re working on a short-term project or continuous seasonal work, ensuring that you make the right purchasing decision when working with Bobcat equipment will help you meet and exceed the expectations of your clients.
In this article, we’ll take a closer look at the benefits of renting vs. buying your Bobcat equipment so that you can make the best-educated decision possible for your business.
Determine The Needs for Your Project First
The best way to decide whether you should buy or rent Bobcat equipment is to first determine your project’s needs. If you’re working on a short-term task, renting may be the best option since it offers less commitment and upfront costs. If you’re working on a long-term project or need to use the machine frequently, buying is often the better option since you’ll eventually make up for the cost of the purchase down the road.
Consider Your Financial Situation
The financial position of a business is frequently the determining factor when deciding between buying or renting Bobcat heavy equipment. Having the upfront capital to purchase the equipment outright can highly influence the purchaser to buy rather than rent. So, as a business owner, purchasing may be the better option if you’re in a financial position to afford the upfront costs. However, if you’re working with a limited budget or don’t have the funds available to purchase outright, renting the equipment is likely the way to go since it will allow you to spend less at one time, given that you only need the equipment occasionally.
Advantages of Buying Bobcat Equipment
There are a few key reasons why businesses may consider buying Bobcat equipment. Here are some advantages and disadvantages of purchasing vs renting:
Buying New Equipment: The Best of The Best
Buying construction equipment can be a smart investment. If you use a certain machine on every job or rent it and discover that it has features that increase your productivity, quality of work & efficiency, then consider making a long-term commitment to buy rather than rent.
Secondly, owning Bobcat equipment outright will give you full control over its maintenance and use. This means you can work on projects on your own timeline without worrying about returning the equipment on time. This can help you work on your projects at your own pace and help you avoid the risk of paying extra fees when encountering delays.
Every business understands the benefits of tax right offs when owning a company. Owning Bobcat equipment can also be used as a tax write-off, therefore helping you earn back additional income. If you’re self-employed or have a small business, you may be able to deduct a portion of the purchase price from your taxes.
Buying Used Equipment: Options for Every Budget
While there are many advantages to buying new Bobcat equipment, some may find the upfront costs outside of their budget. Bobcat is among the most highly-rated and dependable names in construction equipment, with prices that reflect its superior reputation. Luckily, we offer several options for those who may find the cost of purchasing new equipment too steep. Those working with a limited budget may find the opportunity to buy used equipment more attractive. Buying used heavy equipment offers a lower cost than if you were to purchase the machine new while still having it fully inspected and ready to work.
All of our used equipment have been carefully inspected and expertly maintained by our Bobcat certified technicians to ensure that they are in excellent condition.
What’s more, with the right maintenance, it may be possible to recoup your investment later on if you’d like to sell your used Bobcat to someone else.
Plus, if you only require the equipment for a limited time, buying used Bobcat machinery allows you to own the equipment and evaluate your options.
Advantages of Renting Bobcat Equipment
Now that we understand the benefits of purchasing Bobcat equipment, both new and used, we will take a look at times when using Bobcat rentals may be a better option for your business or the project you’re undertaking.
Bobcat Rental Equipment: Get The Job Done
Several advantages come with renting Bobcat equipment. One of the most common reasons businesses would choose to rent is affordability and time constraints.
When you choose to rent, you’re only responsible for paying for the duration of time that you use the machine, which can save you a lot of money in the long run if you don’t need it that often. Furthermore, Bobcat rentals can help you avoid storage and maintenance fees. Oaken Equipment is responsible for maintaining and storing their rental equipment, which saves you both time and money.
Also, for any business needing last-minute equipment for a job, calling our Rental Coordinator to lineup a machine is a much quicker process than purchasing new equipment.
Renting can also be a great opportunity to try out different models before making a purchase. This way, you can find the perfect machine for your needs before committing to a long-term investment.
Finally, Oaken Equipment offers a powerful and versatile S76 skid-steer loader and E50 compact excavator where 10% of the rental proceeds go directly to the Canadian Cancer Society. If you’re interested in a short term machine supporting a great cause, check our our charity rental units today.
Bobcat Rentals vs Buying New: Which is Right for Your Business?
Whether you should buy or rent Bobcat equipment depends on your specific needs and your financial situation.
If you’re only going to use the machine for a few days out of the year, then renting might be the better option. However, if you find yourself using a Bobcat machine regularly, then purchasing might be a more cost-effective solution in the long run. Weigh your options carefully to decide what’s best for your business.
For more information, contact us at 1-888-625-3611.