At a time when construction companies cannot afford to miss out on the abundance of business opportunities, many companies find asking themselves “should I buy or hire my construction equipment?” contemplating whether it’s more beneficial to hire construction equipment or to buy it.
Whether you work in construction, landscaping, decorations, renovations or an array of other industries, you are likely to require specific and reliable tools and machinery to complete your projects. With the UK´s construction industry experiencing rapid growth, there is a much greater demand for construction equipment being felt all the way down the supply chain, putting a strain on resources, causing shortages and contributing to price increases.
The outright purchase of construction equipment makes great sense for companies that make daily use of the same type of equipment and whose projects show little variation.
There are many advantages to buying your own construction equipment. Examples include equipment remains in your custody, at hand when you need it. After the purchase has been paid for, there will be no ongoing payments and the equipment becomes an asset. There is security in the fact of knowing that no future time needs be spent attempting to source equipment, risking contending with machine or tool shortages. Ownership also offers protection from rising prices on the hire market.
The main drawbacks that most companies consider when contemplating hiring plant or construction equipment are the risk of supply shortages and the concern over rising prices due to the high demand being experienced recently in the construction industry. These points are important, however, these issues can be overcome by negotiating rates and rental periods with the equipment hire company you are working with.
We hope this blog has helped answer your question of “should I buy or hire my construction equipment?”. Hiring construction equipment proves a truly effective solution for a great number of companies, with hire providers offering an ever-increasing range of specialist tools and equipment for hire. If you are considering construction equipment hire for your next project in the Sussex and Surrey area, get in touch with Central Plant Hire today.
With over 33 years of experience providing construction equipment hire, Central Plant Hire specialise in the hire of mini diggers, dumpers and plant equipment. If you’d like us to help you find a construction equipment solution for your next project, speak to Central Plant Hire on 01293 851320 or email us here hire@centralplanthire.co.uk.
Central Plant Hire can offer expert advice and the best machines for each job, so get in touch today!