Buying or hiring tools is an age-old question, and unfortunately, it’s one with no right answer because each decision depends on personal circumstances. Luckily there is a vast marketplace for both buying and hiring so whether you’re a personal or professional customer you’ll have plenty of options.
One of the most important things to consider is how long you’ll need the tool for. For example, if the device is for personal use, if you’re completing some house renovations for example, and require a circular saw to cut 10 pieces of wood and then you’ll never need it again, it will be beneficial to hire the saw for the day. However, if you’re a construction business and need a new drill bit set that’ll be used every day for the foreseeable future it’ll be much cheaper to buy what you need.
As well as how often you’ll use the tools you should also take into consideration their lifespan. If they’re durable and hard-wearing, buying will be worthwhile but if they have short durability before they need to be replaced then hiring could be a better option. Also take into account how quick the tools will age, for example, if you run a business that needs to use cutting-edge equipment and you frequently update your tool inventory then it will be better to hire rather than purchase.
Most tools will need some form of regular maintenance, whether it’s a scheduled service including fluid changes or even just cleaning and sharpening. If you own your tools this will come at a cost, either through you or an employee spending time doing the work as well as purchasing the tools required.
Missing scheduled servicing isn’t an option either as it will void the manufacturer’s warranty and could put you or an employee at risk of injury. When you hire a tool all this is taken care of, with hire tools serviced correctly and to schedule. Additionally, the majority of tool hire companies will even return to your work site to collect a long term tool hire that needs to be serviced while it’s in your possession.
Storing and moving your tools can become a big issue, particularly if you work across multiple sites. You must arrange storage that will prevent your equipment from being damaged by the elements and if you have a lot of tools that you don’t use much you’ll find yourself taking up all of your storage space with items that may not be particularly useful for the majority of the time.
Hiring solves this issue as if you use a tool and then realise you won’t need it until a repeat job in six months you can simply return it, saving on space and not wasting money. Hiring can also solve the problem of transporting your tools as they can be returned after each job, and then hired again at your new site. This comes in especially handy for large items that may not fit in a car or van.
While there are a lot of things to consider for the majority of users it’s more beneficial to rent tools for a short time and then return them. Always be diligent when considering your choice and consider as many variables as possible to ensure you’re making the right decision.