Hiring versus buying plant and machinery
When it comes to deciding whether to hire or buy plant and machinery, one size doesn’t fit all. We have found with our clients that there isn’t a hard and fast rule. Some prefer to own the bigger plant such as 30- to 80-tonne excavators; others own a range of small plant and rent the bigger models.
Key factors in deciding whether to rent or buy construction machinery
- Cost efficiencies: The biggest cost consideration is how much you will use the machine over time. If it’s likely to just get short- or medium-length spurts of activity, hiring is the better option. This avoids costs of asset depreciation, insurance, maintenance and repairs and technology becoming dated and inefficient.
- Availability: If the machine is owned by you, it’s available provided it’s not lounging in your workshop waiting for repairs or servicing. However, when you choose to hire, you schedule the machine needed, it arrives to site and, in the unlikely event something goes wrong, a team of mechanics is sent immediately to repair or replace your plant. That translates to peace of mind and minimal downtime.
- Flexibility: Very few contractors can carry a full fleet with every size and machine they’re likely to need. Hiring allows you to scale up or down at any time. It also avoids the situation where you would try to make do with machines that don’t quite fit the job. You’re not attempting to fit a round peg into a square hole, or a 24T excavator into a small space (we have 1.7T machines ready to hire for that job).
- Modern and up to date: Renting gives you access to the most advanced and up-to-date machinery and equipment without the need for significant capital investment. As technology evolves more efficient and cost-effective machinery are readily available to hire.
- Maintenance and repairs: Rental companies take care of all maintenance and repairs, so you can avoid the associated time loss.
- Storage and space: Renting eliminates the need for long-term storage.
Range, convenience, and modern plant at the click of a button
With more than 130 items of plant and machinery in the HEXhire fleet, you are sure to get what you need for any job. Browse the range:
- Water Trucks
- Light Towers
- Scissor Lifts