Tool Hire vs Buying: Making the Smart Choice

Not every tool needs to live in your van. Sometimes hiring makes more sense than buying. Here's how to decide which approach suits each situation.

When to Buy

Buying makes sense when:

• You'll use the tool regularly (weekly or more)
• The tool is core to your trade
• Availability matters (hire stock might be out when you need it)
• The purchase price is reasonable relative to use
• You can maintain it properly

When to Hire

Hiring makes sense when:

• One-off or occasional use only
• Specialised equipment you'd rarely need
• Very expensive tools
• Heavy or awkward items to store
• You want to try before buying

Common Hire Items

Tools that often make more sense to hire:

• Concrete mixers
• Floor sanders
• Large compactors
• Scaffolding
• Cherry pickers and access equipment
• Heavy breakers
• Specialist cutting equipment

The Hidden Costs of Buying

Purchase price isn't everything:

• Storage space costs money
• Maintenance and repairs add up
• Insurance for expensive tools
• Depreciation reduces resale value
• Technology changes make tools obsolete

The Hidden Costs of Hiring

Hire has downsides too:

• Collection and return time
• Deposit ties up cash
• Weekend and bank holiday premiums
• Damage charges for problems you didn't cause
• Uncertainty about condition and maintenance

The Middle Ground

For expensive tools you'll use occasionally, consider:

• Sharing with other tradespeople
• Buying secondhand for less outlay
• Long-term hire agreements at better rates

Your core power tools should probably be owned. Specialised equipment can stay at the hire shop until you need it.