Every construction, demolition, landscaping or other company which uses major heavy plant equipment has very different needs and capabilities when it comes to the tools that they use, and that includes very different types of ownership requirements.

In general, many companies will choose to hire machinery such as Bobcat mini excavators and skid loaders rather than buy them outright.

This typically works best because many businesses will tailor their fleet to specific jobs and projects, and hiring equipment is not only significantly cheaper upfront, but is also easier to calculate budgets when managing projects and presenting to stakeholders.

It also means that a company does not have to think about storage and repair costs; both of these will be handled by the hiring company.

In most cases, where businesses will focus on one project at a time, hiring makes more sense than buying. But this is not always true.

If you have some equipment that you expect to use a lot, such as for many small projects, regular jobs or as part of buy-to-hire services, then owning a piece of equipment outright will make more sense in the long run. It may even have residual value when selling it later.

As well as this, whilst rental companies will have a wide range of equipment available and will work around your needs, there are some jobs which may require custom equipment or modifications that would be better served by making a custom order.

Alongside this, whilst most rentals are undertaken far ahead of time, buying equipment guarantees it is available, which avoids potential turnaround delays during busy periods, although most of the time, a hire company will have everything you need available.

Every business is different, and the key is to get in touch with experts in the field who can use their experience to meet your needs.