Tough Economy? You Might Want to Rent Rather Than Own
In difficult economic times it makes sense to look at strategies to trim budgets and help your bottom line wherever possible. One such strategy is to rent or lease large capital equipment rather than purchasing it outright. What works for giant organizations like airlines, which typically lease their aircraft, could work for your business as well. Begin by comparing amortized costs of an equipment purchase with a multi-month or multi-year leasing arrangement. In addition to upfront cost advantages, you may be able save on repair and maintenance costs as well since these are often covered by the leasing agency rather than the lessor (you).
To get a sense of how much leasing might cost versus purchasing the necessary equipment, you can request free quotes from vendors specializing in both sales and rental of machinery. You can find suppliers in business-to-business websites like The Rent Directory, which provides vendor listings in its Equipment Rental & Leasing category. With just a little online research, you could save your business a bundle!
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