Acquiring a Commercial Generator: To Rent or To Buy
Posted on: 22 October 2019
Once the need for a standby generator has been established in your company, the next decision that has to be made is the means of acquiring the unit. Should the company buy it or go for generator hire? Either of the options is suitable, so which one should you choose?
For most companies, cost is probably the most essential consideration. When you hire a generator, your business will acquire all the power it needs to run effectively without spending a lot of money. Buying is also beneficial, especially if you need the generator for a long period. To make an informed decision you must do some simple math.
Begin by determining how long you require the generator and the amount you would need to pay whether you choose to buy or rent. If the renting cost happens to be lower than the buying one, then the best option is to rent the commercial generator. Otherwise, procuring a generator will be better in the long run.
Additional cost considerations
Everything isn't always cut and dry. Once you determine how much you will pay for both options, you still need to find out how much your company can afford to spend on the same. If you can't raise the necessary capital to cover the generator procurement expenses, the only option you have is renting-to-buy. You will own the generator without paying the entire cost at a go.
Reasons to buy
If the company requires a prime source of power for an indefinite period, buying a generator will help save money in the long run. Additionally, this move mitigates risks that may occur if there isn't a permanent supply of power in the facility.
If your application requires a custom engineered solution, buying is the most suitable option. Customised generators are designed as per the client's application needs, whereas rental generators have general designs. Often, the generators that rental service companies provide are prefabricated, making it impossible to customise them to certain applications.
Reasons to rent
In case a generator is required for a limited period, the most sustainable solution would be to rent a generator. It would be unwise to purchase a generator if you only need it for a week or a month.
Often, generator rentals are meant for disaster relief and mobile uses. If a disaster has occurred and your company doesn't have another source of power (like a stand by generator), renting one is an excellent way meet the business's power needs until utility power returns. Portable generators are common for applications that are away from utility power sources (in the field).
To learn more, speak with a professional who provides generators.Share