If you have a business that requires you to haul materials on the job, you know not to underestimate the impact a good fleet of work trucks can have on your overall productivity. If you’re an experienced construction worker or landscaper in the need of a commercial work vehicle for a new project, you are likely wondering: should I rent or buy?
Your parents and grandparents have likely instilled in you the importance of owning over renting, whether you’re considering buying a new home or another asset like a car. However, when it comes to your business, you have to consider that owning may not be the best option for some of the projects you’ll take on.
There are many factors to consider in the decision to rent or buy, such as the time constraints, budget for a given project, and financial state of your business. If you are in the market for a new commercial work vehicle or interested in obtaining a fleet of trucks for an upcoming project, let’s discuss why renting has the potential to be the best choice for you and your business.
Renting Allows For Flexibility
Do you need a fleet of flatbed trucks for a short-term project, but don’t want to break the bank buying expensive vehicles that you won’t be regularly using? Consider renting your fleet to maximize flexibility.
When you choose to rent your commercial work trucks, you will be able to use the vehicles you want when you want them, maintaining the flexibility you desire for each given project. If you want to maximize flexibility while minimizing concerns like storage issues, maintenance, or upkeep of purchased vehicles, renting may be the best option for you.
Renting Can Save You Money
If your business is tight on funds at the moment or has a need for immediate cash flow, renting a fleet can be a financially sound option for your project. Owning your own fleet can be a valuable asset to your business, but if you’re looking to save money and simplify a short-term project, renting may be the right choice for you.
New car prices are soaring due to the pandemic. The average price of a new car has increased over 8% in the past year, and car lots are experiencing a shortage of both new and used vehicles. Wholesale used car prices are as high as they’ve ever been, up nearly 30%. If you are serious about saving money in 2021, it might be in your best interest to rent until car manufacturing has stabilized.
Renting Allows You To Customize Your Needs
Are you looking to rent a single truck for a 4-month project, or 20 trucks for a year-long project? When you work with a qualified truck rental company, you can customize your needs on a project-by-project basis to ensure the job gets done right.
For example, this year Bruce invested in purchasing 2 trucks for the long-term benefit of his business. For his new short-term project, he will need 3 more trucks. Rather than spending upwards of $100,000 on extra trucks that his business doesn’t yet have regular use for, Bruce partnered with a truck rental company that created a custom rental plan based on his needs, spending a fraction of the cost in the process.
If you regularly haul goods and materials on the job and are in the market for a new commercial work vehicle, it can be stressful to know whether to rent for maximum flexibility or buy for long-term investment. What’s best for you is entirely based on the needs of your business, the length of the project at hand, and your personal preference.
When you choose to rent your fleet instead of buy, you can maintain flexibility, save money on short-term jobs and customize the needs of your company on a project-by-project basis. Consider contacting a professional truck rental company to get a free quote and discuss customizing your options.