When deciding which types of equipment to purchase and which should be leased or rented, there are several factors to consider. Contractors considering backhoe rental in Harrisburg, PA must examine initial costs, depreciation, maintenance and residual values when deciding to purchase or rent equipment. Business experts routinely recommend discussing the options with accountants and rental or lease experts prior to making any decisions.
Initial cost is a major factor for many individuals considering adding equipment. Expenditures that significantly deplete cash reserves should be carefully considered. Accountants generally recommend specific amounts of reserves be maintained to cover emergency expenses. The amounts may vary greatly from one business to another, but financial professionals all recommend against depleting reserves beyond a certain point. Renting equipment helps to keep reserves intact.
All equipment depreciates. While companies that anticipate high usage of equipment may not be concerned about depreciation, users who anticipate minimal use before disposal must consider depreciation carefully. As an example, at what point does it become more practical to consider backhoe rental in Harrisburg, PA rather than purchasing the equipment? Local companies like the Slaymaker Group ( can provide rental figures to help compare the advantages or disadvantages of buying verses renting.
Maintenance is also a cost that must be factored into the equation. Owning equipment means that regular maintenance and repairs must be handled by the owner. Renting the equipment leaves maintenance duties to the rental company. Labor, parts and downtime all figure into the over-all costs.
Even companies that own equipment run into situations where renting backhoes, cranes, excavators, loaders or other machinery is necessary to meet the requirements of a specific job. It is rarely practical to purchase any piece of equipment when its use is limited to one specific job. It may also be practical to rent equipment when an owned piece of equipment breaks down during a job to keep the project on schedule and reduce employee downtime.
Equipment rental is practical for contractors throughout the Harrisburg area. However, working with a professional equipment provider is important to guarantee that only quality, well-maintained equipment is rented. Being able to have confidence that each piece of machinery on the job site will function properly is important. Rent from the best companies to keep all projects on track and allow costs to be contained.
