Renting or buying special equipment: which is better?

Case excavators

The construction industry is constantly evolving – new houses, roads and many other projects are being built. In addition to workers and building materials, this requires special equipment. These are bulldozers, excavators, dump trucks, concrete pumps and other similar equipment. About the best way to proceed – to buy or rent such equipment, read this article.

Of course, there is no hurry in making such a decision. Both options have their pros and cons. What do you need to take into account?

The financial situation of your company. Renting can be considerably cheaper than buying, especially if a certain special equipment is required for a small period of time. However, if you need it almost daily, you should consider buying it. In an emergency, it can always be sold. How often each particular machine will be used. Draw up an approximate work schedule for the next few months to help you calculate the work involved. The need for access to machinery at all times. Some equipment may be needed at the customer’s request. Understand if you are prepared for such difficulties, because otherwise the partner may leave to another company with its own fleet. The availability of qualified employees in your company who can operate the machinery. In the case of renting special equipment, this problem does not arise, as the services of a machine operator are often provided together with the equipment. Otherwise, you will have to look for a specialist. Willingness to repair and maintain purchased machinery. Malfunctions of machines should be eliminated by professionals, and this requires a significant amount of money. When buying, you will have to constantly change oil, brake fluid, buy consumables. In the case of renting, this is not necessary. Availability of a garage or garage space – your purchased large-size equipment needs somewhere to store, which is an additional expense. In the case of rental, the storage of special equipment is the responsibility of the lessor.

When is it worth renting machinery?

  • First, if you need the equipment only for a short period of time.
  • Secondly, if you need special equipment for your project. You can own some universal equipment, which is easy to adapt to different types of tasks. However, in some cases, you may need large equipment, then it is better to rent it.
  • Third, if you do not have or are short of drivers and technicians. Hiring them is another waste of time and money. Think about whether you are ready to take on this burden.

In what cases is it better to buy special equipment?

The most obvious answer – if you have the necessary resources to buy: money, experts, storage space, capacity for future maintenance and repair.

It is also better to buy a specialist vehicle if you need flexibility in your work. That way you can adapt to changes in construction schedules, weather conditions, and customer demands.

Also, special equipment is worth buying if you will need it on jobsites for at least eight months out of the year.

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