Are you finding it hard to assess whether to buy or rent the power tools and equipment you need for your new company construction or DIY project?
Which is more cost effective? Renting or buying? For basic tools such as screwdrivers, hammers, punches and chisels that will most likely be used again, purchasing them would be best. However, when it comes to specialist products such as power tools for construction, it is best that you take the time to assess the pros and cons of buying or hiring.
It is important to evaluate your company situation and abilities before making the decision. It is vital to assess which method of obtaining equipment will best suit your future prosperity and company growth – and which will make your life easier.
We at Talisman Hire, have a few guidelines to help you decide on the best option for you.
Hire or Buy?
- What is the scope of you project and what tools does it require?
- What is the length of the project or job frequency?
- Are you using these tools for the first time?
- Current financial situation? Which is more affordable?
- Do you have storage space available for newly purchased construction equipment?
- Expertise: Do you know which equipment will be high maintenance items, requiring regular preventative maintenance and repairs, and how to execute the repairs?
- Fleet management: Have you got the skills, time and knowledge to take care of the movement of items, and the insurance thereof?
- Storage: Do you have adequate facilities to store the equipment safely and effectively?
- Spare parts: Have you got the space and know-how to keep the right spare parts in stock?
- Are you willing to rent first and buy later?
We at Talisman Hire advise that when working with power tools for construction, you will use infrequently or for the first time, then renting is the best option for you. It will be more cost effective and give you a better idea of the equipment in use. You can then asses if you will be using them on a regular basis or not. Knowledge and skills are a big factor when deciding on hiring or buying construction equipment.
If you have more questions and concerns, we at Talisman Hire would like to assist you when making your construction rental decisions. As the leading tool rental company in Southern Africa, with a wide selection of products and the knowledge and expertise, we would like to assist you in your process.