5 ways renting an excavator instead of owning can save your company money
So your next construction project has enormous earth work to deal with but you’re short of excavators and are confused between buying and renting. Well, all of contractors like you out there are enjoying the cost-saving benefits of renting excavators.
But yes the solution to this puzzle is not that simple. You need to complete project deliverables and at the same time has to manage the cost of equipment needed. In such a scenario the only way to enhance or improve the work progress is by renting equipment.
The demand for excavator rentals has increased over the recent years and more rental companies have begun exploring the market to fetch numerous advantages attached to it.
With that being said, let’s now explore 5 ways renting an excavator instead of owning can save your company money:
You only pay when you’re using the machine
Although, excavator is construction equipment you may need on frequent basis but even then it’s not always useful for a long period. If you have to excavate a trench, you excavate it and then what – the excavator is not needed. So, you only hire excavator rentals when there’s a need. In contrast, when you buy an excavator, even if it’s not needed on the project, you’re paying for the depreciation and maintenance.
You can readily access innovative and latest technology of equipments
When you buy an excavator, it’s not that easy to frequently stay on top of the new models and latest technology. But renters, on the other hand, try to acquire latest technologies and innovative equipments to stay on top of the competition. So, by renting latest and modern excavators you can enhance work force and this will improve your team’s productivity.
You can avoid maintenance costs
Many rental agencies offer for the provision of maintenance and repairs. However, you need to consult your agreement with the renter to see if the offer is available or not. If you can find such an offer than that means you can avoid maintenance costs and have savings that you can further invest some other projects or works.
There’s no storage costs involved
Heavy construction equipment and specially excavators are bulky in size and when you’re in a project site you not always have much space for storage. However, if you approach the rental way of acquiring excavators you never have to worry about keeping it safe.
The renter will take care of the transport costs
Transporting heavy equipment can be a big dent in your profits, especially when you’ve recently launched your construction business. However, if you’re shifting from one project to other and you go the renting way, you can acquire the machinery from local excavator rental company rather than wasting money on the transportation costs.
The bottom Line
Excavators mean a lot for a construction company and you can either buy them or rent them out. Although both ways have their own pros and cons but in most of the cases renting is advantageous.