7 reasons why hiring tools can be better than buying them
In this article
To help you do the best job you can, you need the best equipment, but buying everything you might need involves a significant outlay. Hiring tools not only cuts those upfront costs, it also offers a range of other benefits.
Tool hire is certainly big business. The UK construction equipment rental and leasing industry has seen substantial growth over the past five years, and was worth £8.6bn in 2023, according to industry research provider IbisWorld. New technology means it’s now easier than ever to choose and hire the right tools.
Here are seven reasons why hiring tools could work for you.
The biggest reason many choose to hire tools or equipment rather than buying them is likely to be cost savings. Large pieces of machinery can be expensive to buy and maintain, depreciate in value and become out of date, so if you only use something occasionally it might not be cost effective to buy it.
If you use something regularly, it could be worth buying, but do the maths before you do. You need to include the cost of storing, transporting, insuring, running, maintaining and repairing it. The industry body Hire Association Europe (HAE) has a handy calculator for working out the cost of buying versus hiring on its website.
Hiring tools means you can have an item for as long as you need it but easily replace it with a different one if it’s more suitable for the task or the needs of the job change. It also helps with cash flow as you don’t need to spend a large amount of money upfront to buy equipment or be tied down to loan repayments if you borrow money to buy it.
Another benefit is that you can usually hire equipment in the area you’re working in, so you don’t need to transport large items over long distances. Larger tool hire firms have nationwide coverage, allowing you to hire tools and machines wherever you need them.
Using tool hire companies means you can choose from a wide range of tools and machinery you wouldn’t have access to if you had bought everything.
For example, you can choose between more or less powerful models, models with specific features, hire more expensive machinery than you could afford to buy or try out a type of equipment you haven’t used before.
When you hire tools and equipment, you can access the latest and best models with all the accessories you need. Tool hire companies invest in new equipment and regularly replace it. You can have confidence that items have been maintained and tested so they work well and are reliable and safe.
Plus, you can be sure that anything you hire complies with health and safety regulations, meets the latest standards and is regularly inspected. It saves you from having to spend time maintaining your own equipment, too.
If you own tools, machinery and other equipment, you need to store them. Wherever you store them needs to be secure to prevent theft, and needs to be dry and temperate to keep them in good condition. You need enough space, which could be a lot if you own large pieces of machinery.
By hiring tools, you don’t need the storage facilities to keep them long term. This means you save money on renting space and have fewer logistical challenges.
Read more on theft prevention and how to keep your van safe.
Tool hire companies can offer you and your staff training on how to use a piece of equipment that you might not get if you buy it.
This training means you can use the equipment effectively on the job you’ve hired it for and helps keep you and your staff safe while using it. Companies may even provide a member of their own staff to help you operate it on site.
There are a number of reasons why hiring equipment can be more sustainable. Firstly, buying items that don’t get used very often is not an efficient use of resources.
Hiring also means you can access the most energy efficient and environmentally friendly machines - those powered by electricity, rather than diesel, for example. If you hire them close to the job, you’ll also reduce emissions from transporting machinery.
Finally, tool hire firms have their own sustainability and efficiency practices in place, including equipment disposal and emissions targets.
Money off for Trusted Traders
We’ve partnered with Easy Tool Hire to offer Which? Trusted Traders an exclusive 25% discount off all tool hire, excluding skips. Contact your account manager for a discount code.
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