11 Advantages Of Construction Equipment Rental in Malawi Vs. When You Own Them

Companies in all the sectors want to have the best technical, equipment, and techniques to stay in this competitive market.   

But, as the construction projects vary extensively, it can make the companies dig down their balance sheet to explore new ways of getting the advantages of cost-cutting. 

Now, construction equipment in Malawi like loaders, skid steers, excavators, uninterruptible lifts, trucks, generators, and more equipment come in daily use of the construction. But it happens that as the projects vary in the requirements, you might need the Heavy machinery for construction Malawi which does not come into use often. And after certain projects, they might not even come into use again. So, if you are thinking of buying this heavy machinery, then you should see the notion below to evaluate who really needs to buy this machinery.

Who Needs To buy Heavy Construction Equipment 

When you have a project that demands heavy machinery, you should only buy them when that machinery is used at least 60% or 70% of the time in the year. 

Because if you buy them without this much use, then your investment will sort of be wasted. Furthermore, to maintain them, you will again have to put a lot of effort and money into it. 

Alongside, the heavy construction equipment takes a lot of storage space, so maintaining them would get difficult. Therefore, if you want this heavy machinery, you should buy considering only the points mentioned above or opt for renting them. 

Advantage Of Renting Heavy Equipment In Comparison To Owning Them:

1. Saved Initial Investment - Heavy machinery like trailers, cranes, earthmoving heavy equipment, and others costs too much. And if you want to buy them, you will have to tie up a huge capital amount. And then, when you use them for a long time, you might not get the resale amount you expected, and this will cause you to face a lot of loss. So, for heavy machinery, the construction equipment rental is the best.  
2. Long Run Expenses - Even though you use the equipment often or not, you will have to maintain it. So, it does not get rusty and defective. To get the fault-free operations from the machines when required, you will have to give a maintenance charge. And if you use the rental machinery, then you will not have these things to maintain. 
3. Storage Cost - Well, these machines are quite big. And when you purchase them, you will have to keep them in an adequate space. So, the ownership of these machines increases the cost. Accordingly, as the construction equipment supplier in Malawi has adequate areas for this machinery, you should always opt to rent them until you use this machinery regularly. 
4. Depreciation Costs - Now, the tax has to be paid for every asset you have. Even if you have the machine for a long time, the tax on the machinery's depreciation cost will be there. Whereas, tax for rented machinery is mentioned nowhere. 
5.  No Repairing Cost - Now, when you have a machine, it will indeed break down one day, get worse, or other defects. So, as this machinery's ownership already costs you much, the repairs will only spur up the cost of owned heavy machinery. 
6. Rental Benefits You In Taxing Time - The taxes are paid for the assets. And if you take the machine on rent, these rents are often included in the expenses, and you get the benefit of the same. So, isn’t it a win-win! You do not have to purchase the machine, and when you rent it, you get the benefit as well. 
7. With Rental You Can Keep Up Your Cutting Edge Performance - Technology is growing every day. And if you have bought machinery, you might not be able to rent other machines as well, because you would want to use your existing machinery. And consequently, you might not come up with cutting edge performance. But as the suppliers have all the updated machinery, you can rent the latest ones for your use, and keep your performance high. 
8. You Have Flexibility Of Options - Now, the option to choose within the machinery is many when you want to rent them, and you do not have to use the only ones you have. 
9. Reduces Project Cost - If you buy machinery, you will surely include its cost in the projects, which raises the cost of the project much. But if you only rent them, the price will automatically go down, and low cost, high quality work will attract the customers. 
10.  Cash Flow Increased - As you do not invest a lot of money in buying a machine, your investment will be saved. And thus, cash flow in the business will increase.
11. Eliminates Much Coordination Headaches - If you have machinery on rent, it may break down, get damaged, or something malfunctioning happens, then you can call the supplier and ask them to fix the same. For these awry situations, you will not have to take headaches to coordinate with the teams and others.