For business owners in almost every industry, finding the equipment they need to run their operation can be difficult at best. Not only are the machines expensive to purchase upfront, but the changes in technology make keeping the operation up-to-date nearly impossible. For most companies, the choice between purchasing equipment or leasing items from an equipment rental company can be tough. Here are a few of the wonderful benefits you can expect by leasing instead of purchasing equipment.

5 Benefits of Equipment Rental Programs

1. Gives Access to the Latest Technology

When you buy a piece of equipment, you have to pay full price for each item. When the time comes to update it, you’re out the cost of both the older piece of equipment and the newer updated model with little hope of recovering the investment. By working with an equipment rental company, you’ll have access to the latest technology at all times. If the equipment starts to become outdated, it can be replaced with a newer model at the end of the lease term.

2. Offers Lower Upfront Expense

Leasing equipment allows businesses to pay for equipment on a monthly basis, spreading the cost out over time. If a business purchases the equipment outright, they must bear the expense of the full purchase price upfront, putting a strain on their monthly budget. Equipment leases help businesses get the most out of their budget without having to worry about coming up with enough money upfront to buy the equipment they need.

3. Grants a Tax Deduction

Business expenses, including equipment purchases, are tax deductible, but often that deduction is limited to a certain percentage or amount. However, with equipment leases, the full amount of that monthly rental payment is often deductible. Though your individual tax situation may vary, it’s well worth speaking to your accountant about. The deductions could make leases more financially beneficial.

4. Provides More Choices

When you’re shopping for equipment to buy, you have to work with different suppliers, compare costs, and often order from different companies to acquire everything you need. With a rental company, you’ll have more choices available without having to go shopping at multiple locations. Everything from hand tools to heavy machinery can be found at the same place.

5. Eliminates Maintenance Costs

When you buy equipment, the cost of maintenance and repairs are yours to bear. However, with leased equipment, the equipment rental company pays for regular maintenance and unexpected breakdowns. Best of all, if the item can’t be repaired, your tool rental company will exchange it for a fully-functioning model quickly.

Interested in equipment rental for your business? Contact Hamilton Rental Center in Hamilton, OH, today. Their dedicated team will help you find the best tools for your budget without the high purchase price. Once you find the gear you need, they can even deliver it to your job site or office. Learn more about their available rentals online and call (513) 868-8665 to speak to a staff member today.