Whether you are looking to manage a large piece of land, actively farming, or preparing for your construction project in Bellingham, you might want to look into purchasing top-of-the-line new equipment as your business takes off. You want to evaluate your financial condition to determine just how much you can afford, and how much you can save. Consider the following factors before you reach for the checkbook.
Financing equipment purchases from Kubota dealers can help to keep your capital free and clear to run your business. Depending on your credit rating, financing interest rates may actually save you money versus renting.
Renting can save you on maintenance and insurance. You don’t have to repair it, replace it, or spend your own money to rent another unit when your unit breaks down, is damaged, or even stolen.
Long or short? Rent for short-term or seasonal jobs in Bellingham, but buy for the long term jobs where the equipment will see consistent use.
Purchasing your equipment can also have tax advantages as you write off the depreciation in value.
You may also be able to write off rental fees as a business expense, though that is from year-to-year instead of depreciation over a period of time.
When renting you generally have access to the latest models. However, during periods of heavy demand you may not be able to rent what you need when you need it.
Don’t forget to factor in various charges such as delivery and pick up, fuel, maintenance, and insurance.
You may even be able to go for a combination of renting and buying. Purchasing equipment from your local kubota dealers that will cover your most frequent jobs, and renting other equipment for periodic or short-term jobs. Either way you can construct a roster of equipment that will help you get and keep jobs without spending too much money on equipment.
