Mining Equipment Rentals

Renting Mining Equipment

Renting equipment, rather than buying it, can increase your cash flow, cut equipment costs and free capital without increasing your debt ratio. The choice to rent depends on your business circumstances, the length of time or the number of times you will need the equipment.

Renting equipment is a great option for customers who may need a particular piece of equipment for a short period of time. Typical rental terms range from daily, weekly monthly and quarterly to annually. Rentals are particularly advantageous when you need a piece of equipment to back up an asset that needs repair or for short-term, unique projects with specialized requirements.

Renting is also a good way to fight obsolescence, making sure you have the latest technology in your operation.

Advantages of Renting Mining Equipment - the advantages of renting let you avoid:

Maintenance costs - The rental contract generally covers full maintenance of equipment. You need no repair shop, no spare parts or repair tools, no mechanic, no maintenance records. Missed opportunities and down time. When rented equipment breaks down, the rental center replaces it fast. You don't lose precious time while equipment is being repaired.

Warehousing or storage - Return idle equipment to the rental center rather than using space to store it. Get it out of your way.

Taxes and license costs - Personal property taxes and license costs don't apply to rented equipment.

Logistics problems - Because rental centers offer similar equipment and service from coast to coast, you're likely to find specific rental items no matter where you accept a job.

Hidden costs - Cost control is easy with rentals. When equipment is returned undamaged, the amount shown on the rental invoice is the only accountable cost figure you pay.

Botched jobs - Because more people will make do with what's handy to get a job done, often equipment is used improperly, causing property damage and personal injury. Renting the right equipment will get it done safely and correctly.

Equipment obsolescence - Rental centers update inventory each year, providing state-of-the-art equipment for their customers. And high-tech equipment doesn't cost you money collecting dust when you can rent it as you need it.

Capital investment - Rentals free your capital for more profitable uses than being tied up in costly equipment. And rentals increase your borrowing power by offering a better ratio of assets to liabilities. Rented equipment does not appear as a liability on the balance sheet.