If you are planning to invest in building and construction project of any kind, it is inevitable to use heavy machinery for some tasks. You may consider the option of either buying or hire the machinery as per usage. If your project is a long-term one, perhaps you may think buying the equipment will be a good deal, since it is a one-time investment and can also be used for future projects once bought.
However, when you actually start digging deep into the cost and maintenance factors, you will notice that purchasing the equipment like telehandlers, attachments, winches, personnel baskets, cranes, etc. is quite high. The maintenance of the equipment is exasperating, which makes it an unnecessary headache to buy and keep. Further, to get the equipment insured against theft, loss or damage, one needs to spend a huge amount of money which is not worth when you have the easy and trustworthy option of hiring the equipment.
The thing is that you have to consider everything before you decide to use heavy machinery, and that is when you can consider getting in touch with Ranger Lifting, the finest construction and lifting company to help you with all types of equipment you need. Whatever your decision, be sure to keep the following points in mind.
The Hidden Costs Of Purchasing
The idea of purchasing equipment like telehandler or crane could seem a straightforward one and you would probably just research on the best manufacturers who sell it for a good deal. This thought or approach is an erroneous one. You should also think about factors like insurance, maintenance, getting the parts replaced and so on. If you are purchasing a telehandler, for example, the cost could be too high and may not fit your budget for a one-time payment. On the other hand, if you are hiring the equipment for a long-term, you can choose to pay a small percentage of the hire on a weekly or monthly basis.
Same way, if you are hiring for a short-term, you can pay the charges accordingly. Either way, you will be saved from shelling out a huge amount during the initial stages itself.
Storage can be another concern after buying the machinery. But while hiring, you only need a temporary space that too if the equipment is small you may not need too much storage space. Larger equipment will need more space, safety, and security.
Hiring Gives You More Value For Money
Whatever said or done, the cost is the most important factor for you to decide whether to buy or hire equipment. While you may think of financial plans that can cover the payment for equipment having different quality standards, some of them might not give you effective results because of the lower quality machinery. It might go beyond your budget to purchase high-quality equipment that too the larger ones.
If you plan to buy the machines, think of the long-term use as well. If you only do a few projects per year, the machine may lay idle for rest of the time, which will only make it a liability. When you hire it, you return it when the work is done.
Zero Maintenance, Zero Cost Issues
When you purchase heavy machinery, the cost of maintenance, storage, security, insurance, repairs and so on will keep coming in cycles. There won’t be a time when you will not have to spend on it. This may become an overhead apart from the costs you already have to bear for the project completion and other resources. When you have the option of hiring the machinery at reasonable costs, go for it, and you need not take care of the maintenance or other costs – all you have to pay for is the hiring cost till the duration of use.
Variety Of Models
You can always choose the model that you like. Sometimes, after the work is started, you may realize that a particular machine is not serving the purpose. In such cases, if you have hired the machine, you can always go back and get a different model that will work for you. This is not possible when you purchase the equipment. It might not be possible all the time to choose from a variety of machines based on your requirements. For example, you can choose any brand of telehandler after checking on the height, weight, class, model and any other requirements that your project has.
Safety And Legal Matters
If you own equipment especially heavy machinery, it also means you have to ensure safety for all the personnel using them and also provide a safe environment for the machines as well as others. The insurance should be in place and renewed; there should be a constant and conscious check done to avoid any sort of operational mishaps. This involves a dedicated person as well as additional cost.
On the other hand, when you hire the equipment, the contractor is bound to ensure that the equipment is quality checked and safe for use. They would do a full risk assessment before renting, which includes a proper working plan and detailed guides on how to use the equipment, safety procedures, emergency troubleshooting and temporary maintenance.