Should I Rent or Buy?

Deciding whether you should rent or buy can be a very complex question that involves a lot of thought and obviously, there are a few advantages and disadvantages of both options. We’ve taken the work out of it for you and listed some points below to help you decide what you should do. If you have any further questions, please feel free to contact the team at ProRent.

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Financially:
 icon-arrow-circle-o-right  Capital Gain is realised when your existing equipment is purchased, turning assets into cash
 icon-arrow-circle-o-right  Rental charges are part of your operating costs and therefore, are 100% tax-deductible
 icon-arrow-circle-o-right  Lines of credit are enhanced as rental payments are not required to be shown as liabilities on financial statements
 icon-arrow-circle-o-right  Costs can be controlled with rental fees established up front which incorporate repair and maintenance costs facilitating accurate budgeting

Productivity:
 icon-arrow-circle-o-right  Availability of equipment is guaranteed with replacement equipment supplied at no additional cost, in instances of equipment failure
 icon-arrow-circle-o-right  flexibility can be built into fleet management to ensure seasonal requirements can be met cost effectively allowing your equipment to increase and decrease to meet your needs
 icon-arrow-circle-o-right  Regular consultancy and planning in terms of programmed maintenance timing and additional equipment requirements will provide optimum equipment availability.

Administration:
 icon-arrow-circle-o-right  Elimination of all administrative duties associated with record keeping, maintenance and compliance with OH&S standards

Simplicity:
 icon-arrow-circle-o-right  Your responsibilities are limited to manning the equipment and meeting basic operating costs

If you decide that renting is for you, give us a call on (03) 5133 6888 and we’ll be sure to help you with your equipment requirements.

Categorised in: ProTips

This post was written by Jake Gardam