We’ve all heard the phrase, “Renting is like throwing your money away.” If you need something, you should just buy it, right? Well, maybe that’s true if you’re talking to a real estate agent (and then again, maybe it’s not!), but what about when it comes to home improvement, event planning, or yard equipment and power tools?
Many consumers choose to buy equipment instead of renting, thinking that they are making the best choice financially. However, in many cases, renting is the smarter alternative. Renting can make consumers lives easier and keep their costs lower than if they were to buy the same piece of equipment. Evaluating your options, including a cost benefit analysis, may lead to the same conclusion.
Let’s look at the different factors that can help you choose to rent!
How often are you really going to need that concrete mixer or square sander? What about a forklift or a baker scaffold? How about a plate compactor, or a transmission jack? Odds are, you use them once or twice, and then you hide it back in storage.
Unless you are using an item on a regular basis, it typically doesn’t make sense to purchase it outright. When you purchase a piece of equipment that you are only going to use on rare occasions, you spend more money than is necessary. This leaves fewer funds available to tackle other parts of a project. If you are a weekend warrior DIYer, you don’t need to sink the funds into owning tools. Renting will be far more economical in most cases.
No Storage Issues
Storage space is at a premium for many families. Clutter can impact you in a negative way both physically and mentally. All those rarely used items provide little value for the amount of space that they occupy.
When you purchase tools or equipment, you have to find a place to store it properly and safely. Large tools and equipment are especially problematic to find storage space for. Unless you plan on having your basement or garage taken over by tools, renting can be a better solution. When you rent equipment, you have everything you need right at your fingertips, without having to worry about clearing out a space to store it. Simply use it for as long as you need, and then return it!
One of the downfalls of buying tools or equipment is the laborious process of having to maintain it. The amount of time it takes to keep some tools in working order is far greater than most busy people would like to commit to.
For example, think of the maintenance required for a small gas engine. If it is not used at least once every 30 days you will need to perform additional maintenance to ensure that it starts and runs properly. The Concrete Producer gives the following 7 tips to maintain an engine that you don’t intend to use in the next 30 days.
- Allow the engine to warm up for 10 minutes before using it.
- Shut off the fuel supply and allow the engine to keep running until it is out of fuel.
- Drain and replace the oil.
- Remove the spark plug, and place oil in the cylinder.
- Clean or replace the air filter.
- Remove the battery and store it in a warm and dry place.
- Paint the engine, or coat it with oil to prevent rust.
Sounds like a lot of work for a tool that doesn’t get used very often, doesn’t it? When you rent equipment, the rental company handles the maintenance for you, so you can spend more time working on your projects instead of maintaining equipment.
Professional Grade Equipment
When you purchase tools, you are typically purchasing a lower grade of equipment. Consumer grade tools aren’t designed to be as effective and efficient as professional grade. This means you may be spending more time on your project, and getting lower quality results than you would with a better tool. Consumer grade tools also aren’t built to last as long, so you may find yourself replacing them sooner than expected.
With the right tools, challenging jobs become easier to complete. When you rent equipment, you have access to professional grade tools. This can cut down on your work time, and give you the high quality results you are looking for.
Save Money and Simplify Your Life
While traditional wisdom asserts that buying is always a smarter decision, this is not always the case. In fact, with most projects or events, the opposite is true! With consumers living busier lives than ever before, renting can be your best decision. Renting can save time, save money, and simplify your life in unexpected ways.
If you would like more information on tool and equipment rental, please reach out to our team at Diamond Rental. Our experienced team would be glad to discuss your project, and show you how our renting equipment can save you time, effort, and money.