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Renting vs Financing a Commercial Compactor
If you own a business, such as a quick serve restaurant, you know that you produce a lot of waste. Garbage, recycling, and hauling fees likely take up a large percentage of your budget each month. Rather than throw away money, consider the benefits of a commercial compactor. A commercial compactor can help reduce your waste costs in several ways, including:
- Less garbage space – When you compact your waste, it takes up far less space. This can greatly reduce your waste costs as haulers typically charge based on weight and/or capacity.
- Lower removal frequency – The less a hauler has to come and remove your trash, the more money you will save.
- Better sanitation – By minimizing and compacting waste, you can increase the cleanliness around your dumpsters and better contain the unsavory side effects of accumulated waste, such as smell.
These are just a few of the benefits you can enjoy by using a commercial compactor. If you have decided that this would work for your business, you may be wondering if it is better for you to rent or purchase one. Below, the experts at Global Trash Solutions (GTS) have laid out the pros and cons of both renting or financing a commercial compactor to help you make the best decision for your business.
Renting a Commercial Compactor
There are several great benefits to renting as opposed to purchasing a commercial compactor. The main benefit is that because you do not own it, you are not responsible for maintenance costs. The rental company will make any necessary repairs and maintenance. In addition, a rental company makes the process easy for you. Unlike getting approval for financing, renting does not dig into your financials as much. As long as you are a viable business, you should be approved. This might be a good option to consider if you are a new business that does not have the clout to get financing to purchase one just yet. There are also other benefits to renting. If you decide to rent a baler, for example, you might be able to offset rental costs in exchange for commodities. Depending on what you are using it for, it is possible the rental company may want the end product that you produce. Renting may also be a good option if you do not own the property your business is located on.
However, there are a few cons that you should certainly consider when determining if renting a commercial compactor is right for you. The main drawback is that you do not own it and will be required to make monthly rental payments for it as long as you use it. A compactor is likely a necessity for your business, whether you buy it or rent it, because it reduces your waste bill. If you ever get rid of it, your bill will increase. Once you see its many benefits in action, it is highly unlikely that you will want to get rid of it.
Financing a Commercial Compactor
Because of these cons, you should strongly consider purchasing a commercial compactor over renting one. Depending on the type of compactor you purchase, you can plan to spend between $12,000 and $85,000. Most businesses do not have that much cash on hand for one purchase. In instances like this, it is likely that you would choose to finance the compactor instead. Financing offers you a few great benefits. While you will have an interest rate and pay more, you have the option to pay over time instead of coming up with a huge sum in one go. Once purchased, the compactor will be yours, and you will not have to worry about paying a rental fee each month. Each monthly payment on your financed sum will be going towards your investment, not simply profit in someone else’s pocket.
How Can I Rent or Finance a Commercial Compactor?
If you are interested in renting or financing a commercial compactor, GTS is happy to offer either service. The average life of a commercial compactor is 10-20 years, depending on the type of equipment and how it is maintained. This is a great span of time for such a large investment. We have a one-page application for financing and will get you a reply within 72 hours.
In addition to financing our compactors, we can also offer you an extended warranty on financing and maintenance coverage for the first year. After this time, we can work out a maintenance plan to ensure you get the most out of your investment.
At GTS, our team of consultants will guide you to the best decision for your business. We will explain why we suggest one option over the other and ensure that the cost of the unit does not exceed the savings it offers.
If you are interested in saving trash space, hauling costs, and even helping the environment, contact the experts at GTS about their wide range of services and products, including the world’s best indoor trash compactor. Call us at (866) 760-8194, send us an email to firstname.lastname@example.org, or visit our website https://globaltrashsolutions.com/ today.