Surveying Equipment Rentals

Should You Rent, Buy or Lease Surveying Equipment?

Cost, Maintenance, and Storage

When deciding whether to rent, buy or lease surveying instruments you should try to figure out the approximate net cost of the asset. Be sure to factor in delivery, maintenance, cash flow, loan payment, storage, tax breaks and resale value when making this calculation.

After determining which option is more cost-effective, consider other intangibles such as the possibility that the product will become obsolete (if you are considering purchasing) or that your need for the product will expire before the lease does (if you are considering leasing).

There are advantages and disadvantages to renting equipment, leasing equipment, or buying new or used equipment.

Contract/Terms

Before signing any equipment purchase, rental or lease contract, make sure to read the contract in its entirety so that you know all of the terms and conditions contained therein. This may seem tedious (and it can be!), but it is good policy, especially for more expensive surveying tools.