Buying or Hiring Railway Equipment? Which is Better?
It’s not an easy decision like buying a mower or getting some garden tools. Railway equipment can be complex, bulky, and extremely task specific. That might make it ideal for the task at hand, but it can become a burden if the machinery goes unused. So, is it better to hire or buy the equipment for the next job?
Long-term vs. Short-term Jobs
The length of the project plays a pivotal role in whether or not to purchase or hire the railway equipment. If it’s a short project, it’s better to hire the equipment as a cost-savings measure. But if the project is expected to extend out into the future, it might be better to purchase the equipment, list it as an asset, and once the project is over, it can be re-sold again to recoup the costs of the asset.
General vs. Specific Tasks
Hiring railway equipment might sense in some cases where the task requires an extremely specific tool. Track tampers and rail string loading cranes can only be used for one task, so it’s better off to hire that type of equipment. Other small railway equipment like welders or small handheld tools can be versatile, so making a purchase of those goods might be more logical.
Re-sale of Railway Equipment
Many contractors like to know that there is a market for the type of equipment they purchase, so that when the project is completed, they have a place to off-load their machinery and tools. This shouldn’t be a factor when deciding whether to purchase railway equipment. Suppliers like K and G Machinery offer a sales service where they can sell the railway equipment to another buyer on behalf of the original purchaser. This removes the hassle of looking for the seconds market for a tight niche like railway equipment.
Your best bet is to use a supplier like K and G Machinery who can offer their products as both for hire and for purchase. They also resell equipment and have a good catalogue of second-hand machinery on offer. Contact them today to get more information about the process of hiring railway equipment.