Renting vs Buying Construction EquipmentAshley Woodcock
For those struggling with the ‘renting vs buying construction equipment’ dilemma, there are many factors to consider when weighing up the pros and cons. The cost of purchasing a piece of large construction equipment doesn’t end with the transaction. Owning and operating large scale construction equipment has ongoing fees, including transport, maintenance, storage, insurance, the list goes on. The benefit of leasing equipment is you don’t have to worry about any of that!
Let’s take a look at the benefits of renting construction equipment and why buying could cost more than you think.
Renting construction equipment means that you don’t have to worry about storage. Construction equipment demands ample storage when it’s not in use; this can prove to be quite an expense.
Cost of Transportation
When you are using a piece of bought equipment, transferral from storage to construction site is required. Transport can incur costs of wages, fuel and time when such things can be avoided with renting. With equipment rental services in New South Wales, Victoria and Tasmania, RPM Hire provides a full turn key solution, from supply, transportation and maintenance.
Even the top of the range, state of the art construction equipment requires extensive and recurring maintenance. For such physical work, there is always wear and tear in addition to the high-risk nature of construction; frequent checks and servicing must occur to ensure optimum performance and safety.
The benefits of leasing equipment include avoiding such frequent fees.
By now, you can start to see the expenses stacking up. One of the main arguments for renting in the renting vs buying construction equipment debate is the sake of convenience. You’re not simply paying for the equipment, but the ongoing hassle of dealing with transport, maintenance, storage, paying multiple invoices to different companies – the list goes on. Make your life just that little bit easier, and choose RPM Hire to equip your construction site with equipment solutions including portable lighting, CCTV security, electronic message signs and barriers.
As we all know, when a piece of machinery is taken from the showroom floor it loses quite a large percentage of its original value; simply because it’s no longer new! With every use, scrape, bump, and honk, its value decreases.
A benefit of leasing equipment is you don’t have to suffer asset depreciation. When a piece of equipment starts to breach the later years of its life, RPM Hire replaces it new to preserve the satisfaction of their customers.
Following asset depreciation, when your equipment meets its demise, replacing and upgrading can be a costly endeavour. Once again, RPM Hire ensures the utmost quality in construction equipment for hire.
Insurance and Registration
Another incurring cost when buying equipment is maintaining insurance and registration. Renting equipment severs many technical aspects of construction and allows you to focus on the task at hand.
At RPM Hire we offer our customers a unique peace of mind damage guarantee, that provides full coverage for theft, vandalism, incidental damage and other natural disasters for equipment that you hire. Click here for more details about the peace of mind damage guarantee offer by RPM Hire visit.
A crucial factor to consider when discussing renting vs buying construction equipment is the frequency of use. With all costs accumulated, including the equipment purchase, storage, transportation, insurance, registration etc., is the piece of equipment utilised enough to warrant the spend?
The financial burden is substantially lessened when leasing equipment, whether you are using it weekly, monthly, or once in a blue moon.
Renting Vs Buying Construction Equipment
With many points of validation leading towards renting construction equipment, there are undoubtedly many circumstances where buying equipment is the way to go.
Generally, if you are using a piece of equipment less than 70 % of the time, it should be rented. For items that are used constantly, the rental fees would be far too great to combat the purchase fees.