Are you considering the merits of hiring vs buying cooling equipment?
Hiring equipment from IT through to manufacturing assets is a route many companies take to avoid outright purchases and keep cashflow fluid. There are many other benefits to hiring your temperature control equipment which you may not have considered:
- No depreciation – due to not owning the asset, you don’t suffer from the value of it depreciating
- Up to date equipment – depending on your supplier, you should receive up to date and compliant equipment
- Minimal risk of downtime – if there is a fault with the equipment, your rental supplier should be able to replace the equipment at no cost
- Flexible – try before you buy or, if your business decides it no longer needs the equipment, you can arrange a return depending on your contract terms
- No maintenance to worry about – your supplier should carry out all maintenance for you – ideal if you lack this resource in-house
Find out more about our long-term hire solutions here.
Here, one of our ICS Cool Energy engineers is carrying out an evaporator replacement on one of our hire chillers – keeping it in top condition – ready for its next home.
Where some companies prefer to hire, others prefer to buy, and this also brings its own merits:
- System designed specifically for your needs – if your process requires specific high temperatures, tolerances or needs to meet regulations such as ATEX, this could be beneficial
- Reduced long-term cost – its likely that in the long-term you will pay less for the equipment even though there is an upfront cost
- Try before you buy is often available for a limited period – giving you some degree of flexibility and the time to make sure the equipment meets your needs
- Extended warranties & service packages – offered as part of a capital purchase, typically protecting you from additional costs outside of a service agreement for the first few years
- Funding and finance available – helping to bring down your costs further, there are schemes such as the Carbon Trust which provide funding towards energy efficient replacements or interest free loans
Understanding your requirements and what works best for all areas of your business from operations through to finance is imperative to finding the right solution for your needs. There’s no one size fits all, which is why our customers choose to partner with us as we can provide solutions that meet their exact requirements by drawing on expertise from all areas of our business – sales, service and hire.