Commercial equipment rental vs. equipment hire
If you’ve made the smart decision not to tie up capital in commercial equipment, you now must weigh the option of commercial equipment rental against equipment hire.
Equipment hire might appear like a good solution for your business on a short-term basis, however if using frequently you need to take into account the impact to your business.
Rental vs Hiring
| Equipment Hire
|| GoGetta Rent.Grow.Own
| × Long-term contract
|| - 12 month contract
| × Directors’ Guarantees
|| - No Directors’ Guarantees required on smaller contracts
| × Balance Sheet Item
|| - 'Off-balance' Sheet Item
| × Penalties if break-out before end of contract
|| - Purchase the equip at any time with no penalties
Equipment hire leaves your company reliant on the hiring company. If this is an option you use ask yourself the following questions:
• Will the equipment be available when my business needs it?
• Will the equipment be serviced and full functioning so can minimise down time?
• Does the equipment suit our exact requirements?
• Do the high costs of equipment hire add any value to our business?
Commercial equipment rental using GoGetta’s Rent.Grow.Own® Solution provides your business with flexibility, financial freedom and options. Ensuring you have the right equipment available when you need it and the option to buy with a 75% net rebate on the rent you’ve already paid.
A GoGetta Rent.Grow.Own® Agreement involves minimal paperwork, meaning, you can get the commercial equipment you need immediately. Our commercial equipment finance gives you freedom and unlike equipment hire you have the option to buy at a later date.
As you can see, commercial equipment rental offers a level of flexibility that equipment hire can’t match.To learn more about how our commercial equipment rental option can improve your availability of working capital – and, accordingly, increase the rate of growth of your business – contact us today!
To demonstrate how equipment rental is the smarter finance option over equipment hire, see what your repayments will be with our Rental Calculator.