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To buy or not to buy? 5 signposts to end the rent/buy discussion

Sometimes, it's better to buy your own foundation equipment. Some specific projects ask for a rental solution. But a lot of times you are stuck in this grey area, which I call the 'tipping point' between renting and buying. Very often I receive questions on which option is more beneficial. There are different factors, both practical and financial that influence my advice. To provide you with the answers that suit your needs and wants best, in this blog I present you 5 important signposts.

Here are 5 questions that might influence your decision process. After you answered these questions, do you know if you want to buy or rent foundation equipment?

What is the duration of your project(s)?
The first important influencer is the estimated time span of the project. In many cases, my advice is to rent the equipment when the project lasts up to 6 – 8 months. Around this time there is a turning point; when the duration of the project exceeds 8 months, buying the equipment becomes financially more interesting. But this is not the only factor.

Is there a possible chance of delay and/or overlay?
This is an important question when other projects are planned where the same machines are needed simultaneously. Take into consideration the possible overlay between those projects. When projects do not overlay, and you do need the same equipment for a longer period of time, consider buying. During peak periods, renting extra machines for a shorter period of time may be the best option to close the gap. Don't forget to plan possible transport between locations.

What is the largest investment you are willing to do at once?
And when weighing the occupancy rate with the lifespan of the machine, when do you expect to recoup the investment?

What are your expectations towards maintenance and repair?
Rental equipment is protected against reasonable wear and tear. Therefore maintenance is taken care of within the rental price, which provides you with extra time and energy for other important tasks. When buying the machine, the repair and maintenance costs are your own. It needs to be said that in case your own machine breaks down, we are able to provide you with equivalent rental machines very quickly. This way your project will not delay. Nevertheless, the rental price adds up to the costs of repair for your own machine. When you wish to avoid the hassle in advance, definitely consider renting – and let others do the job for you.

What is the nature of your project(s)?
Take into consideration the nature of different projects. The environmental and soil conditions might require specific piling and driving equipment. Are there any 'extraordinary' projects planned that require machinery you might not need the rest of the year? For example: foundation jobs near (monumental) buildings where vibrations in the soil must be avoided. A rental fleet nearby might provide a solution to the specific demands of the project.

These 5 signposts might help you to end the discussion whether or not to buy foundation equipment. Have you taken all of the factors mentioned above into consideration, but do you still experience difficulty making a choice? Feel free to contact me, to discuss the possibilities for your specific project.


Extensive rental fleet

Geographically seen, Dieseko Group makes sure there are almost no boundaries when renting foundation equipment. Within Dieseko Group, we offer an extensive rental fleet in different locations worldwide. Sliedrecht, in the Netherlands has the largest rental fleet, which provides the broadest range of equipment. Since 2011, ICE China was founded in Shanghai in order to provide premium foundation products and services to the Chinese market. Together with rental fleets in the USA, Brazil and Singapore, Dieseko Group can rent and deliver all over the world. Together with a worldwide dealer network, both renting and buying are easily accessible.

Our affiliated partner companies make Dieseko Group a 'one-stop shop': PVE Cranes & Services and Jack-Up Barge for self-elevating platforms are just one call away.

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Topics: Corporate

Posted by Johan Verheij on Mar 30, 2016 10:00:00 AM


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