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Why Rent?

Understanding the Benefits of Renting Versus Leasing or Purchasing

 

You have a job to do that requires a range of equipment — some of which you already have in your fleet, some of which you will need to acquire. Should you buy, lease or rent the additional equipment you need for your project?

 

Business owners, operations executives, procurement staff and large and small contractors continually face this decision, weighing multiple factors in the analysis.  In general, leasing or buying is appropriate if you plan to use the equipment frequently, and therefore can justify the often-major financial commitment.  Of course, that presumes you can afford to tie up capital in gear that — regardless of its utilization rate — is likely to sit idle for a significant amount of its useful life or lease term.

 

On the other hand, renting is appropriate when the equipment is not expected to be in near-continuous use, or is used: seasonally; only for one specific project or set of projects; in response to an emergency; or for a finite short-term project or situation.

 

Simply, if you expect to use the equipment roughly less than half the time you would own or lease it, renting may be the better option.  But if you want to perform a rigorous cost-benefit analysis, the American Rental Association (ARA) recommends equipment rental when the annual cost of rental charges divided by acquisition cost is less than $0.45, with acquisition cost including additional items such as insurance, maintenance, repair, storage, transportation, interest and fees. 

 

Beyond the ROI calculation, there are multiple other reasons to consider equipment rental as the preferred option for your business or projects.  Here’s a quick guide to the benefits of equipment rental:

 

You get the right equipment for your job:

 

You avoid the time, inconvenience and cost of maintenance:

 

You achieve greater financial flexibility:

 

You reduce the time and cost of managing fleet inventory:

 

Other advantages to renting include:

 

Finding the right partner

Once you decide to rent, it’s important to work with a partner who enables you to take full advantage of the time and cost savings and convenience of equipment rental.  Herc Rentals’ fleet is one of the broadest in the industry, with a product line that includes everything from small hand-held tools to large earthmovers, available for daily, weekly, monthly and long-term rental.  With nearly 280 locations across North America, Herc Rentals is likely to be near to your job or wherever you need the gear.

While having a wide variety of tools and equipment is important, making sure all the gear you rent operates correctly and safely is of primary importance.  Each time a rental item is returned to Herc Rentals, our expert technicians thoroughly clean, inspect, and service the item, ensuring that it remains job ready for the next project.  We also offer jobsite repair and maintenance to minimize downtime.

We are committed to operating with a “Think Safety” approach to all of our work. While regular service and maintenance helps keep our equipment operating reliably and safely, Herc Rentals team members ensure you get the right equipment for your job, safety training, and manufacturer’s safety and instruction manuals as part of outfitting you with rental gear.  Many of our locations also carry a full line of personal and jobsite safety accessories.