Why Rent Hoists and Tools Instead of Purchasing Them?

Ton Electric Chain Hoist StandardIt’s definitely hard to beat the feeling of opening up a box containing a brand-new tool for the first time. The smell, the smooth operation, how clean it is, knowing you’re the first one to use it—it’s always a great experience.

However, purchasing tools isn’t always the most financially sensible idea—and when you’re talking about major industrial equipment, hoists and hydraulic tools, it becomes particularly important to take a variety of factors into consideration. There are some tools that are quite expensive and even cumbersome, so it’s important to seriously consider if buying the tool versus renting the tool is the right option. Sometimes browsing tools to rent versus purchase can be the smarter choice.

Here are a few of the factors you should consider when deciding whether to rent or purchase your tools:

  • Frequency of use: If you only intend to use the tool a couple times, or just for one specific job, it probably doesn’t make sense for you to buy it outright. When you purchase the tool, you’ll need to pay the full price, store it and keep it maintained. Even if it’s a tool you use a couple times a year, it might make more sense to rent. This way you don’t have to pay the full price, and the maintenance is another party’s responsibility. However, if you know you will repeatedly use a tool or piece of equipment, buying it will make sense because it will save you a lot of money in the long run.
  • Billing: If you have a need for a specialized tool for a certain job, you may be able to bill it to that job, especially if you’re a contractor. If so, you can build up your inventory in this way. But if you can’t bill the tool to the job, you will save money by renting.
  • Transportation: If you own the tool, it’s your responsibility to get it to and from the job site. This isn’t going to be a problem for things like drills or saws, but if you’re using a loader or other large tool or piece of equipment, delivery can be quite challenging. When you’re renting, you can include transportation as part of the rental and have it dropped off and picked up for you. Just one less thing to have to worry about, and probably less expense as well!
  • Maintenance: What sort of maintenance does the tool require to keep it in good operational condition and to maximize its usable lifespan? There are some tools that require a lot more maintenance than others, and heavy maintenance needs will increase the cost of ownership. If you do not have the ability to handle that maintenance yourself or are unwilling to pay for ongoing maintenance, going with tools for rent will remove that responsibility.
  • Knowledge: Do you know how to operate the tool? How much instruction do you need? If you’re going to rent the tool, will there be an instruction manual with it? Your knowledge of the tool is an important factor to consider in your decision-making process.

For more information about buying or renting tools, contact the team at Zo-Air Co. Inc., where we have tools and hoists for rent as well as for purchase!

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