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Should You Buy New, Used or Rented Equipment?

If you’re thinking about investing in a piece of equipment, you may be wondering if you should buy new, used or rented machines. There are pros and cons to each, so it’s best to look at the whole picture before making a decision. As a business owner, you want to select something cost-effective, dependable and powerful. Buying hydraulic vehicles such as boom trucks, hooklifts and cranes is a major commitment. It can be difficult to weigh your options, but making a decision shouldn‘t have to be a hassle. This easy guide will provide everything you need to know.

Westminster Hydraulics’ experts can help you determine what type of equipment meets your needs. We‘ve been building heavy machinery for decades, and we always inspect used equipment prior to resale. We stand behind our products, and you can rest assured you’re receiving top-of-the-line equipment when you shop with us. Reach out to us at any time for more information.

New Equipment

The pros. When you purchase a new piece of equipment, you can get started on a job right away. You can also rest assured knowing your equipment will perform at its maximum potential. Consequently, you’ll have less system breakdowns and delays. Upgraded technology is something to keep in mind as well. If having the latest, most up-to-date equipment installed is essential for you, new equipment is the way to go.

The cons. It can be easy to get caught up in the idea of buying something new. It’s always best, therefore, to consider whether what you’re buying is a necessity. Will it improve productivity on the job? Is it an economical choice that’s going to pay off in the long run? How much time will it take to train your employees? New equipment is also costly, and it’s tempting to go over budget. If you have machines that still operate well or only require minimal repairs, new equipment might not be the right choice.

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Used Equipment

The pros. Used equipment is often perceived as inferior or destined for failure. As long as the machines are certified, however, you can be sure that they’ll perform well. Best of all, used equipment doesn’t contribute to waste and it’s affordable. Maybe you’ve already gone over- budget with the heavy machinery you’ve purchased for your business. Maybe you need additional equipment for a specific job, but you don’t have the capital required for newer models. In any of these scenarios, used is the better option.

The cons. Like it or not, used machines are still older than new machines. It’s inevitable that they will require maintenance sooner. Depending on the issues that arise, these repairs could become expensive. This is why it’s so crucial to choose a trusted company that inspects its products before reselling them to you. Before finalizing a purchase, always confirm that the listed safety features are operating correctly.

Rented Equipment

The pros. If you won’t be using a piece of equipment often, why spend more on it? If you buy all of your machines, some of them will just sit in your facility taking up space. If they aren’t maintained over time, this will only add to your expenses. With rented equipment, you can get the most bang for your buck, and you won’t have to deal with repairs. This is especially ideal if you work in a variety of job sites that involve different projects. Rent what you need when you need it, then return it and move on to the next job. Rentals will save you the most money, and it’s a great way to try out new machines.

The cons. Unfortunately, there’s no way to know how your equipment was handled previously. You could have a problem if a rental has too much wear and tear by the time you try to start it. Again, it’s always best to choose a company you can count on. If you can, speak with other specialists in the area and ask them for recommendations. Word of mouth always travels, especially for top-notch companies.

Learn More about Hydraulics with Westminster Hydraulics

Westminster Hydraulics, Inc. provides businesses like yours with the resources and experience needed to offer customized solutions to your material handling equipment needs. Some (but not all of) industries that we service include roofing, general construction, utilities, and tree care. We have been recognized as one of the leading truck mounted equipment installation facilities in the Mid-Atlantic, and we offer both new and used equipment to meet your needs. Our product offerings include Palfinger cranes, liftgates, hooklifts, trolley booms and precast loaders, Sellick forklifts and Mecanil grapple saws.

We go above and beyond to meet the needs of all of our clients, and we have been specializing in offering high-quality trucks and equipment like trolley booms and precast loaders to meet the precise requirements of our clients since 1979. Contact us today at (888)-818-4402.