Should I buy or rent heavy equipment?

Question

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Answer 1

It depends as per your requirement.

If you will be using it/ or say if you require it for a long term then you should buy it.

Else if it is for a short period of time, or few time usage then you should go for rent.

Comments

In my opinion, when you are looking to have a heavy equipment, first you have to figure out answers to few questions, like

• How long do I need it for?
• What is the difference in the price value of renting it versus buying it?
• Will it be equally useful for me after a couple of months of its use? (or I may lose interest in its use/the model may evolve being in a dynamic market and I would want to try the latest version/ it's not as need-specific and I may be seeking alternatives)
• Am I well-versed with the product or do I need a trial run?
• Do I have enough space or I'll need to work out on the space which sounds tricky right now?
  
• Am I relocating soon?
• If I need it for commercial purposes, I must do maths of inflow vs outflow of money pertaining to its role in my business (It should generate working capital and not be of seldom use)

The answers to these questions would definitely help you reach a judicious conclusion.

Thanks

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True, It might be more pricey if you bought but will not be able to use it regularly

Answer 2

For me you should just rent because chores that used heavy equipment is done only several times. It depends on your occupation also if you need to have that on your job then buy one, but if not, just rent out and it may also occupy large space inside your house.

Answer 3

I think  you should buy mostly if you're going to need it for along period of time ...Buying would be better because it's once and for all though renting you need to pay all the time you want the heavy equipment

Answer 4

It depends on the work you are going to do with it ,if it is a longer lasting job then you need to purchase a new machine because it will save you alot of time but if to be use for fewer days then it's better to rent

Answer 5

If you have the skills and the time, you can save money over the long haul by buying some or all of your equipment and taking care of insurance, maintenance, etc yourself; if you don't, you may want to pay a little extra to rent.

Answer 6

Is good Askat is a big and nice platform just like answeree but the major problem with it is that it takes to sometime for admin to approve your answer and award points