If you need to use heavy duty machinery for a long term construction or highways job but don’t have the money to buy one outright, then hiring could be a more cost-effective and practical option. Whether you’re just starting out or have been running a business for years, specialist machinery is always one of the biggest costs involved in a project. Whether it’s a construction project, road repairs or building maintenance, hiring heavy duty equipment for up to 12 months or longer could not only save money but also reduce the headache of storage and security.
Whatever your hiring needs might be, we’ve put together some key areas to think about when considering whether to buy or long term hire heavy duty machinery. With the typical vehicle purchase depreciating by 20% in the first year, it’s no wonder hiring has become a popular choice for construction companies. You could save yourself money and time by choosing to hire rather than committing to the purchase of a vehicle. Read our guide to long term hire to find out the many benefits.
Significantly reduced long term hire rates
Commercial vehicles, cable trailers, HIABs, MEWPs and small plant equipment can all be hired on a short or long term basis from a week to a number of months. Typically, long term specialist machinery & equipment hire costs much less than short term hire which significantly reduces the cost of machinery and equipment. Simply agree a weekly hire rate for the time period you need and remember that the longer you hire equipment or machinery for, the more you could save in hire costs.
No upfront financial commitment
Stumping up the money to buy a vehicle outright is a huge cost to bear. Long term machinery hire saves the headache of having to find such a large sum of money which might not be easily available or could involve taking out a loan or finance. These options typically involve high interest fees and can sometimes mean you are tied into a costly contract for a number of years. With long term hire you can rent the machinery for up to 12 months or longer and return it when you’re finished with no future ties.
No routine maintenance costs
Everyone knows that when you buy a vehicle, it’s not just the upfront financial commitment but also the ongoing running and maintenance costs that can add up. As the machinery gets older, the bills usually get higher. When you long term rent heavy duty machinery & equipment you won’t need to worry about the tax, MOT, annual service and LOLER costs. Budgeting for weekly hire costs is easier than unexpected maintenance bills when something goes wrong.
Off-hire when you’re finished
The beauty of hiring over buying is that when your job or project has finished, simply off-hire it and there’s nothing else to worry about. There are no maintenance costs and no lengthy contracts. Simply agree a weekly hire cost and rent for as long as you need.
Replacement machinery during routine maintenance
If you buy specialist machinery, you will have to find a replacement during any routine maintenance inspections or tests such as the annual service and MOT. The benefit of long term machinery rental is that if there are any problems with a lorry, truck, MEWP or any other piece of equipment you have hired, a replacement will be offered free of charge without causing any hiccups to your day-to-day commitments on the job.
Your own livery and branding
Promoting your business on a vehicle is a good way to get noticed and bring you more work. For long term equipment & machinery hires of more than 12 months, Highway Hire can offer your own livery so that the vehicle is helping to advertise your services. Your business will get additional exposure and it could result in your next project.
Brand new vehicles
If you are hiring for more than 12 months, Highway Hire will always guarantee a brand new vehicle. This offers a huge cost saving compared to buying a vehicle, especially given the amount that vehicles diminish in value after they have been purchased.
Keeping in line with health and safety regulations is paramount in the construction and highways industries due to the nature of the working environment and the safety risks. Heavy duty machinery & equipment hire companies can often help answer questions with regards to protective equipment, operating instructions and so on. A full handover and training is given prior to the vehicle being hired so that the operators are comfortable with the machinery and are able to use it safely. If you were purchasing a vehicle, you would have to find all of this out for yourself and could end up taking unnecessary risks.
A great option for many industries
Long term specialist machinery & equipment hire is a great option for civil engineering contractors, utilities, telecoms, street lighting contractors, external signage & advertising companies, cleaning contractors, film, TV & production companies, airport & engineering contractors and builders & building contractors.
A summary of the key benefits
Having explored the key benefits of long term hire, it is clear to see that hiring machinery has many advantages, both financial and practical. There are no maintenance costs and you only pay for what you need, when you need it. In some cases you’ll even get a brand new vehicle and your own livery. If you are considering buying a vehicle, we would recommend giving long term hire a go first.
How we can help
Highway Hire will be pleased to discuss your needs in more detail to help you choose the right machinery for the job. If you are looking to hire for 12 months or longer then there are lots of options to discuss and a wide range of specialist machinery available to hire. To find out more, call 0845 600 2028 and our friendly and experienced team of advisors will be pleased to help.