One of the biggest decisions many contractors have to make is whether to buy or rent their welding equipment. Knowing which choice to make requires careful consideration, and each option offers specific benefits for your business. This blog will go over the factors to consider before determining which route to take.
Utilization rate is one of the biggest factors to consider when deciding to buy or rent welding equipment. Projecting your equipment’s utilization rate is easy; calculate the rate you utilize the equipment and compare that to the total time spent working. Buying your welding equipment is recommended if the utilization rate exceeds 70%; this provides peace of mind that you’ll always have the equipment you need at all times.
Knowing the welding equipment technology you need also plays a critical role in this decision. Purchasing your equipment makes sense if you constantly need specialized equipment, however, buying your welding equipment means you’re stuck with what you have and may find yourself technologically behind your competitors. Welding equipment rental options carry risks as well; while finding the right rental provider gives you access to the most up-to-date tools, you’re at the mercy of availability and may have to wait for the equipment you need.
Knowing your budget and equipment cost determines if you should buy or rent equipment. Here’s a breakdown of projected costs for each option:
Cost of Purchasing Welding Equipment
The cost of purchasing welding equipment depends on what you need; however other factors influence the total cost. Logistical management and equipment transportation must be considered when determining the full financial commitment, especially if you frequently have out-of-town jobs. The factors that play into the total cost of purchasing welding equipment include:
- Capital expense
- Depreciation of equipment
- Maintenance costs
- Interest rate (if financing your purchase)
Calculating these elements helps determine the entire cost of buying welding equipment.
Cost of Welding Equipment Rental
Determining the actual cost of renting welding equipment is easier. The monthly welding equipment rental cost depends on the equipment you’re renting but typically ranges from $100 to $5,000. However, equipment availability and longer rental times can increase rental quotes.
Looking for a Third Option? Consider Welding Machine Leasing
If you’re concerned about the total cost of purchasing rental equipment but don’t want to be at the mercy of welding equipment rental options, consider leasing your welding tools. Welding equipment leasing options provide you with long-term solutions without needing to make a major financial commitment. Other benefits of leasing include:
Having a good credit score is important for any business, and leasing welding equipment allows you to avoid exhausting credit tines. This preserves your borrowing capacity for future financial commitments.
Welding technology is always changing, and welding machine leasing allows you to update your equipment regularly. This allows you to provide your employees with the most up-to-date tools.
Lease payments are tax-deductible because they’re a business expense. By taking advantage of the tax benefits, you offset the overall leasing cost.
Oxygen Service Company Makes Buying or Renting Welding Equipment Easy
Whether you’re looking to own your welding equipment or need a short-term rental option, Oxygen Service Company offers superior service at affordable prices. Our industry-leading welding machine services include:
Welding Supply Store
Knowing what equipment you need to purchase is challenging and requires advanced knowledge. The OSC welding team is available to offer guidance and help you pick the right equipment for your job. Our supply store features an extensive inventory of equipment from leading brands, and we have a rapid delivery service that quickly transports the tools to your site. We offer a variety of welding machines, including:
- TIG welders
- MIG welders
- Stick welders
- Fume extractors
- Welding wires and cables
Welding Equipment Rental
Finding the right welding rental company is essential, and picking a provider that’s slow to respond to your needs creates delays and reduces productivity. OSC has one of the largest rental fleets in the area and maintains an inventory of quality equipment that you can count on. Our rental options include:
- Welding cables
- Spool guns
- Plasma cutters
- TIG and MIG welding machines
We also offer a rent-to-own program that allows you to test equipment before making a significant financial decision.
Welding Repair Program
Equipment failure is something all welders deal with and results in costly downtime. OSC has the upper Midwest’s largest team of trained technicians, and our team is authorized to repair machines from top vendors, including:
- ESAB Welding and Cutting
- Lincoln Electric
We know how important getting your equipment up and running again is to your business; that’s why we offer on-site emergency repairs that get your project back on track.
Welding Maintenance Program
We offer a preventative maintenance program that minimizes the risk of a major breakdown. Our factory-trained technicians are available for yearly or quarterly checkups that verify your equipment is working efficiently. OSC’s consultation services can be scheduled one year in advance and provide peace of mind that your machines always function properly.
Oxygen Service Company: A Leading Welding Equipment Provider
OSC has been providing welding solutions across the upper Midwest since 1959. Our team is dedicated to helping our partners grow their businesses and maintain this commitment by sticking to our five core values:
- Getting things done
- Respectful behavior
- Customer-focused mindset
- Positive attitude
- Doing the right thing
Our industry-leading experts have the expertise to assist our customers in selecting the right equipment for their needs. Contact us today to learn more about welding equipment services.