How to beat inflation when renting plant machinery?
27th October, 2022
Over the past year, plant machinery manufacturers have been raising prices incessantly, sometimes, far higher than inflation.
This is creating pressure on builders and contractors who are left to reconsider the feasibility of projects and raise prices themselves.
This means that rental companies will also raise their rental rates for plant machinery hire. So how do you beat inflation when renting plant machinery?
Here are our top money-saving tips to consider when it comes to plant machinery for hire.
When choosing plant machinery for hire, most businesses look at weekly rental rates. However, there are many other important factors to consider when you want to make an informed choice.
Fuel idling plays a huge role in cost overruns, and many plant machinery hire companies have begun to address this by considering the total cost of plant machinery rental instead of the weekly rate.
The withdrawal of red diesel means that your fuel costs have doubled instantly. And yet, many contractors do not pay heed to equipment idling away on their sites, which can significantly increase fuel costs as well as emissions.
Return rental equipment when not needed
Another aspect that can increase rental costs is when companies keep plant machinery even when they are not in use. Here the added costs overshadow any cost savings gained from weekly rental rates.
A lot of site managers prefer to retain equipment just in case they may need it oblivious to the fact that their rental costs are quickly adding up. Instead, consider offhiring equipment that you are no longer using. This is the simplest way to reduce your plant machinery rental cost and beat inflation.
Avoid duplicate costs
Many contractors inadvertently duplicate their costs by hiring plant and machinery when they could easily add low-cost attachments to their existing equipment. This not only helps you to make the most of your investment but also helps reduce costs.
Maintain your equipment
Equipment misuse is another cause of increasing rental costs. When dashboard warning signs are ignored, it can result in equipment failure, which, in turn, can result in hefty repair charges.
This can be avoided easily by using the equipment with care and paying attention to warning signs.
Plant machinery for hire from MTS Plant
MTS Plant offers a huge range of construction plant machinery for hire. Get in touch with us today for a free quote.