Plant Leasing – Better than Buying?
If you are in charge of looking after the procurement of machinery and equipment within your company you’ll understand that there is always a debate to be had as to whether you should purchase or hire. When it comes to plant hire or plant purchase this becomes more evident as there is a higher turnover of contractors and machinery required on sites that are often challenging or difficult to get to. There is also the cost associated with purchasing plant as opposed to plant hire, which can be eye watering when first looked at. Here, we take a look at the benefits of plant leasing, and whether your company is better served hiring through a plant hire specialist, rather than buying machinery.
One of the biggest benefits of buying machinery or equipment for your company is that you own it and can use it as you wish. It is yours after all. This can be very helpful and can have tax benefits in certain cases, but there are a few times when this can cause you anguish. The first is when there is a breakdown of machinery. When you own machinery and equipment it is your responsibility to ensure that everything is running to standard. If there is a breakdown of machinery it will have a big impact on your project del. It could mean that there is disruption on site that causes an increase in cost and a delay to the deadline being met.
Now, let’s look at it from the other angle and what would happen if there was a machine breakdown through a plant hire service. When it comes to plant hire you’ll take in delivery of equipment and machinery that has been rigorously tested, maintained and repaired. This process will happen between each project that the plant hire is delivered on, and ensures that everything is running above board and to strict safety standards. If there is a breakdown on site your contact will ensure that there is a replacement delivered to you within 24-hours, minimising disruption and keeping the project ticking over.
Another reason to think about plant hire instead of plant purchasing is to think about the expensive costs associated with buying. It can be incredibly costly and then you are tied to that piece of equipment and model for quite a few years. The value will begin to depreciate almost immediately, so you will never recoup your costs. Add to that the inflexibility it can cause you in terms of having this costly piece of machinery that you think you should use to make the most of your purchase, even if a different model or different machinery would perform a task or role much more efficiently, and you can see the benefits of plant hire over purchasing.
In terms of plant hire you’ll be looking at a better cost profile, more choice of fleet, regular maintenance, repairs and upgrades, and the latest models to choose from when the machine you’ve bought has long gone out of fashion or been improved upon in terms of performance and safety.