Over the years, renting heavy equipment has become a lot more popular the world over. There are, of course, many contributing factors for this, including the ever-increasing cost for purchasing new equipment.
And as the market becomes more unpredictable, companies are always looking for new ways to cut costs, one of which is to hire machines and equipment rather than buy them. If you’re involved in a project that requires a tipper, here are just some viable reasons to hire heavy equipment such as tipper trucks:
You get to avoid the mammoth initial purchase cost
Heavy construction equipment doesn’t come cheap. Acquiring a brand-new tipper can do severe damage to your company’s budget. Besides, buying a tipper is a long term investment that’s going to tie you down to the equipment.
Hiring the equipment, on the other hand, is a lot cheaper and allows you to hold on to the vehicle for the period you’re going to need it. You also get to allocate your financial resources better.
You incur less repair and maintenance costs
One of the responsibilities that come with purchasing a tipper is keeping the truck well maintained for the period you’re going to own it. Although you’ll still need to maintain and repair rented or leased equipment, the costs are significantly lower than what you’d incur if you owned the equipment.
That’s because the time and labour expenses that come with hiring equipment are lower, and thus repairs are less and more manageable.
You don’t need to worry about depreciation costs
The moment you buy a new tipper truck, you inevitably expose yourself to high depreciation costs. Recovering your loss of initial investment becomes impossible as the value of the equipment deteriorates over the years.
On the other hand, renting equipment helps you avoid depreciation costs that come with vehicle ownership.
There are no storage issues
Equipment as valuable and significant as a tipper needs proper storage when the equipment is not being used. When you purchase the vehicle, you, thus, need to worry about a facility where you’re going to be keeping the equipment for the long term.
With leasing, this inconvenience is taken care of as you’re only going to have the vehicle for the duration of the project.
You get shielded from market fluctuation
When you work in the construction sector, the fluctuating market can be a significant concern. Often, you have no control over the number of projects you’re going to have in a year. That’s why it’s smart to keep your costs low.
One of the best ways to do that is by avoiding the enormous cost of equipment ownership and hiring project-specific equipment only when you need them.
The increasing popularity of hiring tippers and other equipment shows no sign of abating, and there’s a good reason for that. With all the money-saving benefits that come with equipment hire, it’s no surprise that so many people will continue to opt for it over purchasing brand-new equipment.