Lease or Buy? The Choice When It Comes to Heavy Machinery

A Bobcat Doing Construction Work

Oh, the allure of that new heavy construction equipment! Before you fork out your hard-earned cash in exchange for ownership, you should think first. It might be more beneficial to rent than buy one.

Whether it is an excavator, roller, dumper, loader or truck, Hire Direct Ltd explains that a heavy machinery for hire company in New Zealand gives you many options. You should, however, settle for a company with immediately available, well-maintained equipment. They should also have a speedy field service should you need one. Here are the benefits of renting heavy equipment.

It is Cost-Efficient

The initial cost of buying heavy equipment is quite steep, and yet the machines depreciate over time. It is not wise to cripple your business financially with equipment loans. With rentals, you need not worry about the costs associated with heavy equipment ownership. These include storage, maintenance, repair, insurance, operating costs in addition to government licensing fees and taxes.

You Hire Specific Machinery for Your Project

You cannot be precisely sure what your next assignment will entail or the equipment you will need. Maybe it will be a different equipment from the one you own. Reducing the risk of spending so much on machinery you might not use by settling for rentals. Rentals allow you to choose machinery according to your specific project needs.

You Can Access the Latest Technology

New machines and innovations continually come up in the heavy machinery market. You do not want to be stuck with outdated technology while your competitors get their jobs done efficiently. Renting equipment allows you access to the latest technology available at affordable prices.

The construction market is often affected by factors beyond the industry’s control. Equipment rentals allow your balance sheets to cope better with industry downtimes. You do not want to keep paying maintenance costs for a machine you are not using.