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Equipment for testing and measurement purposes are important. They are created to ensure safety, to produce and test analytical data, and to make sure that everything is working as it should be. However, these important tools, come at a cost. Digital test tools like flow meters or pat testing equipment – especially top of the line models – are sold at large prices. For some companies, buying new equipment outright, from a reputable supplier, may not be financially viable. Luckily, there are other avenues to go down, like renting test and measurement hire tools and buying them pre-used.
Why Renting Is Financially Logical
No matter if you’re in charge of a newly created start-up or a multi-national corporation, maintaining a balanced budget is absolutely key to your financial model and wellbeing. By being financially savvy, you will have more expenditure in other areas. So, if your business is in a sector that needs certain kinds of test and measure equipment, but not all year round, then you should consider test equipment hire instead of buying from the likes of MCS Rentals. It’s financially logical to rent test tools from a verified and secure provider, as you won’t have to pay the full purchase cost, which is generally a considerable amount of money. Ultimately, the key question to ask yourself (or your accountants) is what timeframe do you require the devices for?
Renting test and measurement equipment is a great tactical, strategic move, especially if you can gain access to the equipment quickly (some hire companies even offer next day delivery), and have no long-term commitments to it either. If, instead, you buy the equipment new and by the time your company’s next project starts the digital measurement device you’ve just spent a three or four-figure sum on is obsolete, then that’s a dramatic financial loss. With measurement equipment rental, you can keep your options open and your financial flow balanced. Don’t spend a huge amount on test equipment that is only used occasionally. Instead, use that pool of available finance on different rental devices as they are required for each different project.
Both Renting AND Buying Pre-Used Rental Equipment Works
Test equipment rental is the most logical way to go, financially speaking, for many companies, including bigger companies. You may think this is an issue that only small and medium-sized businesses must contend with, but it affects large businesses too. For instance, there’s a current trend in the United Kingdom where after periods of long rental, sizeable companies are purchasing certified pre-owned test and measurement equipment from rental sources, where used tools can be offered at a discount. Accountants at larger firms often advise their teams to take this approach through a reputable company as the pre-used test equipment they sell is still in exceptional working order. The measurement instruments themselves are inspected and refurbished, where necessary, to a high quality, following a rigorous set of requirements before they’re even allowed to be sold. The digital devices are tested both functionally and electronically, and the latest firmware and software is installed so the devices are fully updated. There is hardly any difference between buying brand new and pre-used – other than the latter being more cost effective. So, whether your company is looking to rent premium test equipment rental UK tools or buy pre-used ones at a fraction of the cost, a strategic financial view must be taken to get the best deal.