Hire or Buy?
Hire or Buy?
Do I Hire or Buy? Quick Decision Needed. The Super Tax Deduction Expires End of Next Month.
Multi-Hire not only hire top branded flooring equipment and surface preparation machines, but they’re also approved distributors of a number of quality machine manufacturers.
So, should you hire or buy?
Hire, you pay only for what you use, there’s no maintenance or storage, MH can deliver next day all over the country and all hire charges are fully tax deductible. Should there be a problem, MH have the resources to resolve it same or next day.
Buy, cheaper for items regularly used, it’s a valuable asset you own. Buy before 31st March and you qualify for the Chancellor’s Super Tax Deduction.
So how many times per annum do you need to use it, to make buying cost effective?
We are licenced credit brokers regulated by the FCA. Below is a summary of typical guideline current prevailing monthly repayments on capital sums borrowed –
|Monthly Repay £
So, look at the hire rates of the items you most frequently hire (Flooring contractors are on 50% discount on displayed weekly rates) and hopefully you can see how many hires of an item you need to incur to make the purchasing it cost effective so that the machine is paying for itself as it goes and not soaking up precious cash flow.
Where’s the best place to buy flooring equipment?
Multi-Hire have no ties to any of the manufacturers and so we can give you impartial advice that you can rely on. We only work with manufacturers who don’t insist on supplying diamond shoes at exorbitant prices. We will try keep you updated on any special offers: currently National Flooring Equipment have an offer of 10% off across most of their range, until end of March 2023, a perfect time to buy one of their market leading floor scrapers or shot blasters.
We offer hire before you buy on many items; we’ll deduct a week’s hire charge from the purchase price.
Multi-Hire sell at below manufacturers’ RRP and include delivery to the majority of UK addresses. They also give a 12 months free labour charge service just before the warranty expires, looking for any defects covered by the warranty.
Have a look at the Buy section of our website for your next investment in flooring machines and mixers. Please give us a ring if there’s anything you want to chat about or need advice.
PS: We strongly advise you speak to your accountant to make sure you qualify for Super Tax Deduction and the value of any reduction in your corporation tax bill.