6 Great Reasons to Hire Vs Buy

To hire or buy? This is a question that most tradies and home DIYers end up wrestling with at some stage – often just before the next job is due to start!

For a lot of trade work or DIY projects, hiring tools and equipment can be a smart choice. When you hire, you don’t have to find the space to store equipment, spend time and money maintaining it, or fork out a load of money to replace obsolete models with the latest on the market.

With hiring, all these things are taken care of behind the scenes. Here are six benefits of hiring versus buying outright.

1. Get the latest

When you hire from a reputable hire company, you get to use the latest and best technology on the market, all serviced and ready to go. And how much better is that than digging out your old piece of equipment from the shed, cleaning it up and then trying to get it into action?

 

2. Get help and advice from a professional team

Sometimes you might not be sure what equipment would be best for the job at hand, or even what’s available – especially if you’re a DIYer. With hiring, all you need to do is explain what you want to achieve to get great advice on the best tools and equipment for the job. You also get help on how to use the equipment correctly and safely. 

 

3. Better budgeting

Buying equipment can often require a big capital outlay. With hiring however, you get to use great equipment without an upfront purchase cost or incurring other expenses such as insurance cover, as these are already taken care of.

For a home DIYer, this is a great boon. For businesses, it can help even out the costs and make budgeting easier. The costs of hiring may also be tax deductible for businesses, depending on the jurisdiction.

 

4. Use on an ‘as-needed’ basis

Hiring allows for occasional use of equipment as required, which makes more sense than having tools or equipment lying around unused year after year – something that can so often happen. 

 

5. Improve risk management

Sometimes a business might invest in a piece of equipment only to come up against a downturn in the industry or a loss of a contract. This can make owning the equipment a bit pointless, as it’s not bringing in income. It might also mean having to sell the equipment – possibly at a loss. Hiring helps to mitigate the risk of this type of scenario. 

 

6. Helps the environment

With hiring, equipment in effect becomes ‘shared’. This not only makes use of the item more efficient, it also helps reduce disused products ending up as landfill.