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Excavator Hire vs Purchasing your own Equipment

There may always be the ongoing debate regarding the value of Excavator hire and other equipment hire vs purchasing your own gear. In the current market, there will be many organisations, large and small deciding whether it makes better financial sense for them to hire or purchase plant equipment. Many factors, such as the 2015 Federal budget, and the declining Aussie dollar are playing a key role in the decision making process.

Government and Economic Influences

In May 2015 we saw the Government announce measures to help small businesses including the implementation of new tax breaks, such as temporary instant asset write-off, allowing small businesses to claim back purchases of up to $20,000. This to an extent became a factor for smaller organisations to consider when choosing to hire or buy certain equipment.

However playing a larger role in the decision making process is the Australian Dollar hitting a six year low late last year^, which has led to talk of consumer confidence coming off. With a declining Aussie Dollar the cost of goods being imported to the country begins to increase, which can be seen across electronics, petroleum, the automotive industry and of course plant equipment.

All the major manufacturers of plant equipment globally are based outside of Australia, in Japan, the US and Europe, therefore the cost of importing and selling new plant equipment is not immune to the falling dollar. This has a flow on affect to the sale of second hand equipment as well.

Industry Insight

Paul Haynes from Euro Auctions when speaking with Solution last September, when we first investigated this debate, mentioned they have noticed a growing trend for Australian businesses to sell second hand machines offshore rather than fight the Australian market. The increase of businesses exporting machines out of Australia compared to 12 months ago has grown substantially, which they believe is a result of the falling Dollar.

Doing what is right for your business

Regardless of the size of your business, from a small enterprise to a large national organisation it is important to weight up the pros and cons of buying or hiring your next Excavator, or other plant equipment. If you do want more information regarding Excavator Hire Solution Plant Hire is here to help.

Why Solution Plant Hire?

At Solution Plant Hire, we aim to build positive, long-term relationships with every one of our clients. Our goal is to become your go-to provider of modern, reliable and user-friendly earthmoving equipment and attachments. We also have a full support team available 24/7, who will do whatever it takes to help you get the job done.

If you’re looking for the right excavator hire and attachments to help enhance on-site performance, Solution Plant Hire has everything you need to boost efficiency and increase productivity onsite and off. Contact us today, or call us on 13000 77 44 73 to discuss your next excavator or attachment hire.

^Source: Sydney Morning Herald, 5th September 2015.

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