Why buy your construction equipment instead of hiring it?

Construction companies often face the decision of whether to purchase their own plant and machinery or rely on third-party providers for equipment rental. There are several advantages to buying construction equipment outright, however.

Over time, owning equipment can be more cost-effective than continuous rental expenses. It eliminates recurring rental fees, providing long-term financial benefits for businesses that want to specialise in a certain area or are going to require the same plant for different projects.

Ownership ensures immediate access to equipment, reducing any potential downtime caused by unavailability. When you buy instead of hire construction machinery, you will have full control over scheduling, which could lead to increased productivity and flexibility. You will have complete accountability for your equipment’s maintenance schedules, too – so as long as you are diligent about servicing it on a regular basis, it is highly likely to continue performing well.

Plant and machinery are assets that appreciate in value. If you do come up against a period where cash flow is an issue, you can always sell or lease your equipment while it’s not in use to generate an additional income.

 Prefer to rent after all?

Owning machinery does come with its responsibilities, not to mention the costs involved in equipment maintenance, storage, and depreciation. The choice between ownership and rental depends on factors such as how many projects you can expect to use the equipment for, whether you have access to the funds you need to make the purchase, and what your long-term goals are for your construction business.

If you would prefer to review our hire options