PacB Group // Why Not Rent a Generator Rather Than Buying One?

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Why Not Rent a Generator Rather Than Buying One?

It is a question that is frequently raised when it appears that either a company or an individual is faced with the need to make a substantial purchase. When there may be a need for items such as generators, will the option to rent them prove any significant benefits over the alternative of ownership? In practice, many of those considering a purchase today are finding that there are a number of advantages to settling for a rental agreement instead.

One of the more obvious reasons for choosing to rent, is as a means to cater for needs that are relatively infrequent, but have become necessary. With some types of industrial equipment, versatility may also be an important thing to consider. However, this is less likely to be relevant in the case of power generation equipment, unless one is considering a mobile unit that you might use more extensively.

Deciding whether to buy generators or to rent them will often be determined solely on the basis of the estimated payback prospects. If it is apparent that the accumulated rental costs of a unit that will be used regularly will soon exceed that of purchasing it, then it will be more financially sensible to buy it. Since ownership carries the responsibilities for the cost of repairs and servicing, one may need to include the cost of an extended warranty or maintenance contract in the comparison.

By contrast, it would make perfect sense for an events management company to rent a generator in order to provide power for exhibitors and visitors at a week-long trade fair, knowing that its next outdoor event is likely to be several months, or even a year, away. This will often be the case for a building contractor who will normally only have a need for an auxiliary power supply on rare occasions.

A major advantage of renting equipment rather than buying it, is that suppliers have to deal with any repairs and maintenance to ensure it remains in working order, as part of the deal. So, if you decide against purchasing, and choose to rent generators instead, you could avoid paying for an expensive warranty.

It is human nature to want the best product that you can afford. That said, after a closer look at the price tag, we are often forced to settle for second-best. While a credit agreement is an option, it could mean paying more than double the initial purchase price once interest is added to the capital debt. On the other hand, a rental agreement does not require the commitment of purchasing and carries no interest. Thus, another important benefit, should one considering the option to rent generators, is that this offers a means to gain access to a top-of-the-range product that fully meets your needs up front. Later, it may be possible to pay a mutually agreed upon, and more affordable balance amount, to the rental company in order to assume ownership.

It is important to choose a supplier with care. Not all of the possible benefits listed above will necessarily be offered by every supplier, but it is equally true that some suppliers may offer additional – or alternative advantages as a means to promote their rental option.

The fact that generators are available to rent does not make it any less crucial to choose your equipment with care and to ensure your needs are thoroughly met. With more than fifty years of experience in designing and building gensets to its credit, the PacB Group offers the same professionalism and support to rental clients as to those who decide to purchase.