Understanding The Pros And Cons Of Short-Term V Long-Term Access Equipment Hire
If you’re looking to rent access machinery, then you may be torn between short and long-term access equipment hire. In this guide, we outline the pros and cons of each, so you can make an informed and educated decision.
Are you in need of access equipment but don’t have the budget to buy the machinery outright? Perhaps you are in need of an emergency replacement for your own forklift or knuckboom, and you’re unsure how long your equipment will be out of action. If you’re looking to rent access machinery, then you may be torn between short and long-term access equipment hire. In this guide, we outline the pros and cons of each, so you can make an informed and educated decision.
Short-Term Access Equipment Hire
Short-term hire refers to the process of hiring a piece of equipment for a relatively brief period of time. This can be a day or two, through to a few weeks.
1. Emergency Replacement
If you’ve already got a full fleet, then you may not see the need for renting machinery – but if your key piece of access equipment unexpectedly breaks down, you might be singing a different story! You can hire a replacement until it’s back from repairs, ensuring there is no delay to the project you’re working on.
2. Specific Requirements
Has the project you’re working on presented a unique problem? Perhaps you need to reach into a certain area of a building or factory – but you know you will only have to do it once? Hire the equipment you need for a day and return it when the task at hand is complete.
3. Product Evaluation
Are you planning on buying a certain piece of equipment but you’re not sure if it will meet your needs? Short term hire is the answer! Give it a test drive for a week, and then once you’re satisfied, you can purchase your own machinery!
More Expensive: If you’ve signed a short-term access equipment hire contract and you continue to use the machinery for months on end, you’ll quickly find the costs add up – short-term hire is more expensive per-day than long-term hire.
Long-Term Access Equipment Hire
If you know you will be using the specific machinery for months at a time, but can’t afford to purchase it outright, then long-term hire may be the solution you are looking for.
1. Seasonal Use
If you know you will be needing access equipment for the majority of certain seasons, such as the peak period that comes with the sunny weather of summer and autumn, but the machinery will sit idle during winter and spring, then long-term hire is the answer.
2. Financial Security
Even if you could afford to purchase a new machine outright, have you considered the other costs that come with owning expensive access equipment? By renting, you can avoid the servicing and maintenance costs – which always crop up when you’re least prepared!
3. Eliminate Obsolescence
If you want to buy a machine but you’re worried that a newer model will be better suited to meet your needs, then it may be worth renting the current equipment to ensure you avoid purchasing a piece that may soon become obsolescent.
Less Flexibility: If you find you no-longer need the equipment half way through your contract, you’ll find that you either have to find a place to store the machine until the contract is over (and continue to pay throughout that period) or you will be charged an early exiting fee.
As you can see, there are pros and cons that come with both short and long-term access equipment hire, and it’s important that you understand the needs of your business, the budget that you’re working within, and the requirements of the hire company before you can make an accurate decision about which option is best suited to you.
If you’ve read this quick guide and you’re still unsure about the right course of action, then we recommend speaking with your local long and short-term access equipment hire company. They can offer the professional experience and knowledge necessary to assess your individual situation and point you in the right direction.