Rental vs Buying – When to Buy Or Hire a Chiller?
Earlier this summer Newsome, the temperature and humidity control specialists, took delivery of a brand-new range of energy efficient chillers and air handling equipment, for both Industrial & Environmental Cooling applications, to help companies get ‘Summer-Ready’.
As the warm months continue, the new rental chiller range is for hire – featuring the latest energy efficient and environmentally friendly technology, with many of the products featuring low GWP (Global Warming Potential) Refrigerants.
Richard Metcalfe, Director, Newsome, comments: “With us right in the middle of warmer months, our new rental equipment will enable you to rent a brand-new chiller to keep your manufacturing processes going, whilst you carry out necessary maintenance and checks on existing equipment. Or they can be used as an emergency back-up in the event of another mini heatwave, when average temperatures exceed 30 degrees – which can result in equipment failures and downtime.
“We’ve invested in energy efficient and environmentally friendly rental equipment, to provide our customers with the most cost-effective systems available,” he concluded.
Renting temperature control equipment as an alternative to buying, can provide multiple benefits:
Flexibility
- When investing in a chiller, you need to take into consideration that the requirements and needs of your business may change over time. If you are starting out, it may be more beneficial to rent your chiller short term, until you are more established and have a greater understanding of your business needs. Then you may decide that you need to upgrade to a larger system, so it is at that point you can chose to make a capital investment and purchase one.
- In the case of any potential downtime, or when repairs are required, it is much easier to exchange a rental unit than one that you have purchased.
- ‘Try before you buy’ – if you are unsure as to what kind of equipment is most suited to your business, you can use a rental system to gauge what would be the most suitable product for you.
- Renting rather than buying also allows the flexibility to upscale/downscale your equipment in response to fluctuations in temperature/seasonal change.
Product Maintenance
- If you require maintenance on your purchased equipment, short term use of a rental unit will provide you with the option to keep your manufacturing process going.
- Equally – if your rental chiller needs any maintenance work or servicing, your rental fee is likely to include the cost of the maintenance/upkeep.
Cost considerations
- Hiring one of Newsome’s new chillers with a low GWP refrigerant will also help you to improve your energy consumption – providing energy cost savings, whilst reducing your carbon footprint.
- With cash flow and capital expenditure being stretched, hiring energy efficient temperature control equipment avoids the need for a substantial, upfront outlay and enables you to take advantage of fixed monthly costs.
- Tax Relief – Rental expenditure is 100% allowable against corporation tax and will reduce what you pay. What’s more, rental equipment is not considered as an asset, so does not need to be included on the balance sheet.
- Renting a chiller will have various methods of payment, but generally it will be a fixed monthly cost – this is a popular approach when planning upcoming budgets and cash flow in your business.
Quality Assurance
- A level of quality is guaranteed when renting a chiller with a reputable company – who will install the chiller for you. They will hopefully provide you with the best quality rental chiller units and different ranges that will help support your company, plus the added bonus of the increased level of efficiency that your advanced equipment will provide.
Conclusion
Hopefully this has helped you to see that there are many advantages to renting a chiller, as opposed to buying one.
To determine whether hiring or renting is the best option for your business, get in touch and we’ll help assess what is best option for you via: https://newsome.ltd.uk/
Read more from Newsome here.
