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Do you need to fix the staircase handrail? Has the garden fence come out from the edge? A welding machine can be the answer to all your dilemmas. A welding machine can quickly help you fix broken metal elements. However, choosing the right welding machine is crucial for the success of your project. Another important decision that both the DIY enthusiasts and professionals need to make is, whether rent or buy a welding machine.
The decision depends on the rate of utilisation of the equipment. As a general rule of thumb, if the equipment does not get utilised for at least 60 to 70 percent of time, it is best to rent it. Therefore, if you need a welding machine for fixing minor things, it is best to hire one, whereas professionals might consider buying one. But renting a welding machine can help the professionals to some extent as well. Let us explore the factors that you need to consider to decide whether to hire or buy one:
As mentioned above assess the rate at which the equipment will be utilised. If it is higher than 70 percent, consider buying the equipment, whereas if it is lower consider renting one. Another factor that must be considered is whether the exact equipment that you are looking for is available or not. If it is not you can temporarily rent the available equipment to keep the project going on and then you can decide whether to buy or rent, once the desired equipment is available in the market.
This is especially for the professionals. If there is a sudden hike in the volume of work, you can rent a welding machine. Renting is more suitable than buying in this scenario, because you can control the sudden hike in expenses and keep the project going on; and you never know whether the same work volume will continue to remain the same or it will go back to normal. In case, you see a surge in volume for a long period of time, you can consider buying the equipment.
As you must know every project is different and the needs are different as well. So, one equipment that is suitable for one project might not be suitable for the other. So if you have variable needs, it is best to rent than buy, since you can rent the suitable equipment and then return it once the project is accomplished. This lowers the overhead costs and ensures you have the right equipment for every individual project.
Last but not the least, you must consider your financial condition. Buying is often more expensive than renting, because you have to meet the upfront costs and keep up with the on-going costs for maintenance, repair, etc. Therefore, it is best to compare both the options and then decide which one is financially more suitable for you.
When deciding whether to hire or buy a welding machine, keep the above factors in mind and make an informed decision.