Renting transport equipment can be a more complicated process than traditional renting. As a fleet operator, there’s a lot to consider (and a lot that could go wrong) if you don’t do your research.
You’ll need to carefully scope out the equipment to ensure it can do the job it needs to do; figure out the costs and benefits of renting it for a particular project; and assess whether your staff are trained (or will require training) to operate it.
To help you come in prepared, we’ve answered the top five questions we get asked by fleet operators about hiring transport equipment.
1. What’s more affordable – buying or renting?
For most companies, renting is the more affordable choice. If you take into consideration the cost of ownership – how often you’ll need to use a piece of equipment and paying for insurance, maintenance, storage, depreciation, and interest (just to name a few!) – choosing to rent rather than buy equipment could save you thousands of dollars.
Renting gives you easy access to a quality, work-ready fleet of vehicles so that you can meet demand quickly. It also frees up capital for other uses, such as investing in plant and equipment or in resources that increase overall productivity and business growth.
2. Am I locked into a contract?
No – Rentco offers short and long-term equipment hire, with flexible options based on your business’ needs.
One of the perks of hiring is that you’re not locked into the long-term responsibility of maintaining and paying off a loan on an asset you might not need permanently – you only need to pay for the time required to complete a job!
In the era of COVID-19 where border restrictions can change overnight, having the flexibility to rent and return equipment when it’s not in use is an added reassurance for fleet managers who are constantly juggling fluctuations in demand.
3. Is renting equipment tax deductible?
Yes! As long as you are using the equipment for business purposes, part or all of your lease payments could be tax deductible. Plus, if you’re a small business, you won’t need to take on the liability or debt of the leased asset in your balance sheet.
4. Is the equipment insured?
Yes – all of our equipment is insured, and regularly serviced. Our rates include vehicle registration, storage, insurance, and general wear and tear costs, so you can confidently rent equipment without worrying about the costs of repairing or replacing a run-down vehicle.
5. How difficult is renting equipment?
With Rentco, it’s easy. We offer flexible short and long-term lease agreements, so you can hire equipment as your business demands.
With 24/7 support available to all our customers, and the option to swap vehicles and equipment as needed, your business can enjoy increased productivity, reduced operating costs by renting from our range of state-of-the-art transport equipment.
Hire quality trailers, trucks, and more from Rentco
Still got more questions or want to learn more about your leasing options? If this is your first time renting trailers, trucks, or other heavy-duty transport equipment, our specialists can advise you on how to choose and rent the right equipment for any job.
To talk to one of our team, get in touch here or call our head office on 08 9353 9999.