Obtain the Best Value for Mine Safety through Equipment Rental

For safety on mining sites, one needs to balance cost and efficiency as well as prioritize safety of workers. But the question remains, is it better to buy new equipment, buy used equipment or rent? If one wants to invest in equipment through manufacturers like Caterpillar Inc. (NYSE: CAT) to be used daily and on long term basis, buying new equipment is the best option. Other times though, buying used equipment is the better choice and is more affordable.

However, a lot of companies prefer to rent equipment first before they decide to purchase. Renting equipment is an affordable and flexible option. To understand the value of used equipment, a few benefits of renting equipment as listed below.

Equipment Rentals Offer Flexibility

The most flexible option if one prefers to acquire mine safety equipment would be through renting. Equipment can be rented for a specified period of time or for an indefinite period till the facility requires different equipment for other processes. If operational needs have changed, the company can easily exchange the machines rented for a different model or rent an updated version or they can even cease renting the equipment.

This flexibility is particularly advantageous when the alternative is an expensive one-time investment. For example, it’s much more cost-effective to rent rather than purchase a closed-circuit breathing apparatus. As it is a costly piece of equipment and is only required for short term use, experts recommend renting it instead of having to purchase it only to use it for a short period of time as that would be a loss.

Consumers renting equipment also do not have to worry about maintenance or repair costs. This is all covered by the manufacturer. Rental equipment is maintained and tested by an approved and chosen service provider, to the manufacturer’s requirements.

Rental company service technicians offer and arrange for maintenance visits at regular intervals, depending on the rental terms of the equipment. This ensures equipment is in working order, operating at optimum level. Rental companies also swaps out failing or faulty equipment for newer units.

Trial-Rental Period

Renting gives a company the opportunity to use mining equipment without any prior commitments. Some companies may own some units and rent an additional number, shifting equipment between different locations when needed in a given year. Renting offers flexibility to the companies to try out the machinery and know whether they’re safe for operation and if they integrate well with already existing machinery and also allows them the best deals when it comes to purchasing the used equipment at the end of the rental/ trial period.

Exploring Options

Consumers have many equipment options to try out before making a decision on what they want to buy. This is made easier by equipment rental companies, who rent out from their assorted catalogue virtually every mine safety equipment.

It is important to note though that if one’s company needs equipment being rented for long term use, the best option is to buy it at a reduced price.

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