At Southeast Industrial Equipment we offer a variety of lift trucks, construction equipment, and other industrial equipment for your material handling operations. When considering your business needs, there are many choices you will have to make. One of the questions many companies find themselves asking is: should I purchase or rent? There are pros to renting and owning, but it’s important to consider what your application will be and how long your business needs the equipment. Making this decision can be tough, especially when your application may call for everyday or just sporadic use. Also consider how quickly a need can arise for a piece of equipment. For example, generators though rarely used, are needed in the case of an emergency and would be smart to purchase for those occasions when it is needed right away.

If your application requires continual use, or equipment is operated to its maximum ability, it would be more cost effective and convenient to own it. The hour meter reading would not be monitored. When you own the lift truck, it will always be there when you need it. Purchasing is also made easier with the financing options that are available. In addition to financing; purchased equipment is tax deductible for the year it was bought, this helps business owners fiscally.

On the other hand, if a machine is not versatile and is infrequently used; renting is a more cost effective option. For companies without a significant amount of capital or well established credit, renting may be best. If you are renting; the cost for maintenance is generally included and the machine provider will service your lift truck at regular intervals.

Keep in mind the needs of your company, and the amount of upfront costs you can handle. In weighing these options you can make an educated decision on what’s best in your situation.

Here is a chart to better view your options when it comes to renting or purchasing a lift truck.

Whether your company decides to own, rent, or a combination of both; Southeast Industrial Equipment has you covered. We have equipment available that will fit your needs. Please call (866) 696-9125 or go online www.sielift.com to make an appointment.