Should You Rent or Buy Power Equipment?

Working on large construction or landscaping projects requires the use of some heavy-duty power equipment to get the job done well and efficiently. So, as a business owner or independent contractor, do you rent or buy that power equipment? Well, it depends on a few different factors, including the types of projects you’re doing and how long you intend to work on them, among others. 

Morgan Power Equipment in Halifax, Massachusetts, is your Bay State Husqvarna® power equipment dealer. Read on to learn about the various perks of buying and renting power equipment so that you can determine which option is best for your needs.

Perks of Buying

Buying power equipment can save you money in the long-term in a few different ways. There are tax incentives, monetary benefits and lower interest rates to consider. It’s more affordable these days to buy power equipment than it was in the past, but that doesn’t mean it’s cheap. You still want to carefully consider your budget before you make a decision.

The tools and equipment you own yourself are considered to be assets on your balance sheets, which can permit you tax breaks. You also have something to resell if you need money later on, but no longer need the equipment.

You also get the ability to set your own work pace when you own your power equipment, so you don’t have serious time constraints. You could even rent out your machinery when you aren’t using it to make a little extra money, but be sure to have some insurance in place before you do so.

If you plan to use the same types of power equipment for different projects, it can be far more cost-effective to buy them, rather than rent them repeatedly. You also won’t have to wait for a piece of rented equipment to become available, which saves you time and money.

Perks of Renting

For those who don’t make much use of power equipment, renting may be the better option. If you opt to rent your equipment, then you won’t have to worry about storage or maintenance costs, nor do you have to insure it yourself. And you don’t have to transport the pieces of equipment from work site to work site, which saves you transportation costs.

Renting your equipment qualifies as a business expense that you can deduct annually, and you can factor in the cost of renting power equipment when figuring how much to charge a client for the work they want you to perform. The machines can qualify as indirect or overhead costs.

You also are able to rent higher-end pieces of equipment than you might be able to buy since the rental fee will not be much greater for a newer piece than an older machine.

For anyone who only has one or two projects to do with a machine, renting makes more sense in the long run. Also, if you have credit issues or cash flow problems, renting is the better option. But if you have a lot of work to do on a regular basis and you have the means to purchase your equipment, it can be the best option in terms of saving you money in the long term.

The choice to rent or buy your equipment is entirely yours and we hope this guide has helped you to come to a decision. And if you think it’s time you bought yourself some Husqvarna power equipment, then you’ve come to the right place! Husqvarna is a leading Swedish-based manufacturer of power equipment and they have a wide variety of machinery for you to choose from.

Visit our Halifax dealership today to investigate our full selection of new and used Husqvarna power equipment for sale. You can even talk to our helpful staff about our financing options. Morgan Power Equipment proudly serves the cities of Brockton and Taunton, Massachusetts.