Better to Buy or Hire Plant Machinery?
Working in the construction industry, small and large plant machinery are a
necessity to complete your projects on time and on budget. If you require plant and
equipment on a regular basis, you may be asking yourself ‘should I hire or should I
buy’? It may not be the most ideal situation to have to invest a lot of money for a
piece of equipment and rather than buying machinery, sometimes it is more
economical to consider hiring excavators, dumpers, diggers or access platforms.
There are many variables associated with making the decision to hire or buy and it
can be difficult to come to a decision without some assistance from the experts.
And while we can’t give you a definitive answer as to whether hiring or buying is the
better option for your particular circumstances, we can assist you by outlining the
pros of hiring so you can make a more informed decision.
Damien, the MD of Shannon Plant & Tool Hire outlines the top reasons why you
should hire rather than buy plant machinery for your next construction or DIY
project
One of the main reasons it is better to hire than to buy is because of the
equipment’s cost. Plant machinery is extremely expensive. Hiring plant and tools is a more cost-effective way of having the equipment that you need, when you need it
and in perfect working order on your construction site. Hiring prices are
considerably lower than purchasing plant equipment outright.
When it comes to construction, every project is different so the equipment you need will vary as well. Hiring plant machinery gives you the luxury of choosing particular
equipment for each project. The major benefit of hiring plant and equipment is the
flexibility that it gives your business. Having the ability to reserve equipment for the
entire length of your project, no matter how long or short a time, is a huge benefit.
Whether you’re looking for a quick hire or something for much longer-periods,
hiring offers much more flexibility in ensuring you have the equipment you need
when you need it on site.
All business ventures involves taking risks. Purchasing something expensive like plant machinery is a big decision as it depreciates over time.
By hiring plant and equipment for your construction undertaking, you won’t have to stress about the depreciation costs and its associated risks.
There are some particular pieces of equipment that you may not require for the
entire lifetime of a construction or DIY project, and in these cases, hiring is
extremely useful, cost effective and manageable. Short-term hire of equipment is a cost-effective solution to your requirements, especially if you only require the particular piece of plant equipment as a one-off.
