23 May Equipment options in a down Market (Part 3)
Last week we discussed the importance of evaluating your equipment before making a purchase that you may regret. This week we will discuss the options of renting and leasing equipment, and how it can help you in a market downturn.
Rental and leasing options are often inviting approaches to companies that are cash strapped. Four years ago Ely Enterprises started a rental division, for customers that may not be fiscally ready to make a permanent purchase. It works well for both customer and supplier, Ely Enterprises gets a chance to prove the high quality and efficiency of our equipment and the customers can get their work done and save money.
Quoting Ken Ely regarding rentals, “Recently, a customer had its eyes on a big baling system but didn’t feel comfortable with the capital expense. We rented them the baler for a year to prove the economics, and they ended up purchasing three new balers from us because it far exceeded their expectations.”
One last thought to part with, many times recycling companies are willing to rent you equipment in exchange for the material you bale in it. Most times this is a win-win situation for both customer and recycler; the company gets to save money on waste solutions and saves room in the company’s facility. The recycler wants the material you are baling so they can in return sell to a mill.
Next week we will wrap up this discussion with more financing options that can help with your equipment purchase.
Don’t forget to visit our website at www.elyent.com or contact us at
Ely Enterprises, Inc.
3809 Broadway Avenue
Lorain, OH 44052