When buying expensive equipment, you’ll have to assess the investment in a detailed manner. See the equipment as an asset as it will deliver you returns for as long as its functional. But, is this permanent investment wise, or are there better options? Hiring equipment is the next most popular choice.
People have differing opinions when it comes to choosing between buying and hiring equipment. Buying heavy AV equipment is a serious task. To discover whether buying or hiring is the best option for you, let’s assess the cost-benefit to come to a logical decision –
- What are the estimated rental payments for the Video Equipment Hire in India?
- What’s the approximate cost of new equipment?
- For how long will you use the equipment?
- Now that you know how long you need the equipment for calculating the rental fees. Is the cost price of the video equipment more or less than the rental fees?
Other costs to consider during the ‘buying or hiring’ decision-making process, include -
- Cost of transporting the equipment
- Permanent or temporary storage costs
- Frequency of need for video equipment
- The lifespan of the brand-new video equipment
- Approximate cost of maintaining the video equipment for its expected lifespan
Once you consider these costs and factors, choosing between hiring and buying will become easier. You’ll also need to consider what financing options you have. Sometimes, certain video shooting projects require multiple AV equipment. Does the brand-new equipment solve your long-term problems? Or will you have to rent at some point in the future?
A Case for Renting Equipment
People who don’t know how to manage video equipment shouldn’t invest tons of money into getting a complex AV equipment. For such amateurs, renting is the best option as it allows them time to learn on the job. Hiring AV equipment also has other benefits -
- Save Money - AV equipment such as 4K cameras are very expensive. People operating on a limited budget cannot afford to buy such fancy and technologically advanced equipment. After all, there’ll be a newer and better AV equipment in the market in a few months. Film crews have to take care of other costs, such as getting shooting Floors on hire in India. Once the shoot is over, the equipment has little or no purpose. Can you afford to have your expensive equipment gather dust in storage?
- Options - Hiring video equipment gives renters numerous choices. They can select from different product types, equipment with the latest technology, etc. Buying limits their options and their professional growth. AV experts who hire a plethora of tools and video equipment end up gathering more knowledge than the ones who stick to one equipment for the long run.
- Stay Risk-Free – Buying expensive technological tools always comes with certain risks. What if your fancy new camera breaks down just a month after its warranty expires? With equipment renters, there are zero risks for consumers. Consumers don’t have to worry about price depreciation either. As long as users don’t damage their rented equipment, there are no risk factors!
Which option suits you – renting or buying?