The most common question when people shop for a baler is whether one should rent, lease or buy.
Balers are an essential component for many businesses to help reduce waste and transport expenses. When you are deciding to rent or purchase a baler, consider your needs and the type of materials you will be baling.
Here are some of the benefits of each option.
Benefits of Buying a Baler
When you buy a baler, all of the maintenance and costs are associated with the buyer. The process can be easier than renting because purchasing your own equipment reduces the problems of following a leasing agreement.
You are also fully in charge of following a maintenance schedule and proper teaching to your staff. Owners make the decisions when to replace parts or get machines serviced.
Buying a baler is a great return on investment since it will open up new revenues of income from the baled product and have a sustainable impact on your business. If you can handle the cost of buying a baler, it is highly recommended.
When You Should Rent a Baler
Renting is an ideal option for businesses that are not fully in the capacity to acquire a baler, but are still seeking to benefit from using a baler.
You can make monthly payments to the company you rent from. Often, there is no maintenance required by you to use the baler. Installation and freight can be included in the rental too.
Renting is also ideal if you have a minimal amount of product to compact.
Leasing to Own a Baler
Leasing to own means the baler will eventually be yours after a set amount of payments over a period of time. Ensuring monthly fees are covered means the baler is yours to own after the lease payments are finished, usually between 12-60 months.
Leasing often lets you try out different types of equipment before purchasing and you can try the latest in baling equipment without an extra cost.
You can enjoy the benefits of your baler right away, but keep in mind the maintenance to keep your baler running at its peak capacity. Most of the time, maintenance costs are the lessor’s responsibility but always review the contract to ensure.
What is the Best Option?
The best option is the one that meets your budget and is suited to your long-term business goals. If you are a company working in a paper or plastic industry, investing in a baler is worth every penny whether you rent, lease, or buy. If you are looking for a short-term solution, renting or leasing may be the best option.
Now that you’ve explored the benefits of different baler investments, find out the difference between baled and loose waste.