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Heavy Equipment Leasing: Five Questions

Renting or leasing various industrial or construction machines is wise for rapidly growing companies. You may not have the liquidity to purchase all new equipment for the work you're bringing in, but renting may be preferable. You can use top-notch machinery without overspending or needing to find places to store the equipment. You also don't have to set aside money for monthly or yearly maintenance. However, to make the process seamless and effective, you must ask the heavy equipment rental services these leasing questions.

How Long Will It Take to Get Equipment?

A leasing company will typically only have a certain number of heavy machines on their site to rent out. During hectic times of the calendar year, there might be delays if you want to use specific equipment. Therefore, ask around and find the leasing companies that not only have the equipment you need but can deliver it on the days or evenings you'll need to use it.

What Support Is Offered?

While some rental companies only ask what equipment you want, there are others that are true partners that offer greater support. Seek leasing companies that start a real dialogue with you about what your needs are. For instance, if you're unsure which equipment is needed, leasing companies should offer assistance in finding the right equipment. If you have some concern that your current staffers need training with the equipment you're leasing, look for companies that offer worker training.

When Was Machinery Last Serviced?

Leasing companies should be tracking the maintenance records for all their equipment. To reduce the risk that you'll get machines that break down, inquire about the most recent servicing on a machine's record.

What Happens When Malfunctions Occur?

If the equipment breaks, what happens? It's important to know, not just because of the costs it may accrue for you, but to ensure that site work still gets done. For instance, many leasing companies will send out a technician to repair something so work can continue.

Is Buyout a Possibility?

When you realize that you're renting certain equipment often, you may think about whether purchasing is a better option. Ask about possible buyout options that could be more affordable than buying a brand new machine. This is an especially good idea if you're planning to buy several machines.

With these inquiries, heavy machine and equipment leasing is more satisfying. You'll get great machines and return them for reasonable fees. Build relationships with local leasing companies for better terms over time.