Deciding to buy or hire construction equipment comes down to more than just dollars. Here’s how to assess whether it’s better to buy or hire your next piece of earthmoving equipment.
How to work out the most affordable and practical way to add new equipment to your fleet
How often will you be using the machine?
Taking a good look at your needs on site is the first thing you should think about when considering hire, buy or buy-to-hire options.
Typically if you’re using a machine more than about 50% of the time, it’s probably worth investing in new equipment. However, it doesn’t have to be brand new and straight off the showroom floor.
Ex-rental equipment is a great choice that balances price and performance, providing you find a hire company that really looks after their machines.
Will adding a new type of machine to your fleet open up doors to new projects?
Considering the business-building effects of expanding your fleet is a good way to assess whether buying additional earthmoving equipment will enable to you tender for more lucrative projects.
If you’re limited by your equipment, take a look at some of the earthmoving equipment for sale at Orange Hire.
Sticking to hire: cheap and easy
Sometimes it just makes more sense to continue to hire equipment, even if you’re using it quite often.
Lack of storage space in your yard, ongoing maintenance costs and a range of other factors can make buying equipment unnecessarily complex for contractors with simple needs.
If long term equipment hire works for you, then stick with it!
The best of both worlds: hire to buy earthmoving equipment
Hire to buy options like those offered by Orange Hire can provide a good balance for contractors: spreading the cost out over a long period of time is better for cash flow, and at the same time, you end up with an asset at the end of the agreement.
The team at Orange Hire are very flexible when it comes to long term hire and hire to buy agreements, with our sales team able to craft a customised deal that works for your business.
If you’d like to find out more about hire to buy deals for our earthmoving equipment, get in touch with the team.
Alternatively, you can ask about our long term hire rates which get more affordable the longer you hire for!
