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Companies within all industries need every competitive edge they can get. As everyone pores over the balance sheets and all aspects of the business to find advantages, it can literally pay to explore and compare the costs of renting or leasing equipment against the expenses of buying and owning it.
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Determining whether to purchase a new piece of construction equipment is a decision that should be considered carefully, and the overall bottom line must be taken into consideration. Let's look at factors to weigh when deciding whether to buy or rent new equipment.
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Business leaders in manufacturing, construction, maintenance and other heavy industries often face a dilemma when taking on new equipment. Determining the ROI for buying vs. renting requires insights into your company's cash flow and its intentions for the machinery.
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