Buy Trench Boxes That Meet or Exceed OSHA Standards
Utility, mechanical and pipeline contractors as well as municipalities engaged in trenching and excavations can benefit from an outright purchase of trench boxes and trench safety equipment that exceed OSHA standards. Many contractors prefer ownership of their equipment because tax laws permit deductions associated with depreciation, insurance coverage, repairs, and refurbishments along with licenses and fees. Tax advantages come into play with amortization over the years. Large firms with concurrent jobs in progress can realize cost savings from purchasing multiple boxes and netting a quantity discount price. Purchasing durable, code compliant used boxes can yield greater savings versus a new box. Buying makes sense for large-scale organizations engaged in day-to-day trenching operations.
Lease Trench Boxes
For contractors considering the purchase of OSHA approved trench boxes and trench safety equipment, lease-to-own is an option that makes economic sense. If a lease-to-own contract is signed and the payment required is $500 per month, 50 percent would be credited to the buyer and 50 percent to the seller. After two years, the contractor now has got a $3000 down payment, against the overall purchase price of the trench box which is already being held by the rental agent. The contractor now needs to provide the remaining balance due to complete the lease to own agreement. This is practical for small construction firms, that don’t maintain large cash on hand balance, have cash flow issues or their credit rating is poor.
Rent To Own Trench Boxes
Similar to a lease to own option, a rent to own option permits contractors to try out an OSHA approved trench box, but for a shorter period of time, before making a purchase or lease commitment. Contractors can rent the boxes of interest for any period of time. In a rent to own scenario, maintenance of the boxes is the responsibility of the rental agent. If the box doesn’t measure up to expectations, it can be replaced or returned. There are little risk and no large up-front capital investment. A rent-to-own situation is like a trial period. Should the contractor have a good experience with the box and trench safety equipment, they can enter into a lease to own agreement or direct purchase.