Excavator Rental vs. Purchase – A Quick Comparison

Construction sites sport different kinds of machinery. Some of them are highly sophisticated while some are complex and heavy duty equipment. When making some construction works at home or undergoing a DIY project the thought might occur whether to purchase machinery or to hire them. An excavator machine is a machine often used for digging. The machine can be bought or hired. Making the decision whether to rent an excavator or purchase it is quite challenging. This post will help you make a quick comparison of excavator rental or purchases.

Buying machinery like an excavator is an expensive affair. For people engaged in DIY landscaping or gardening works, excavator rental are a much better choice. Hiring machinery or purchasing them both has its own pros and cons. It is difficult to decide whether you should buy construction equipment or you should rent them. Here are a few things you should consider before making the decision.

• Make the decision based on your financial status: Whenever you want to hire or buy construction equipment’s like an excavator the first things you should consider is your financial competency. If you can afford you can certainly buy the machinery in place of renting them out. But if you are short on budget and you want to get the work done effectively then using services like excavator rental will be a good decision. These rentals will provide you the machinery in exchange for a charge. Once you are done with the work all you have to do is return it. You can hence avoid the maintenance burden and cost which comes with purchasing machinery.
• Consider the frequency of their use: Small equipment like drill machines or cutting tools frequently used. Therefore, such equipment can be bought and stored. However big machinery like excavators is not used frequently and hence purchasing them is nothing but a financial burden. Excavator rental will be a smart choice if you use it less frequently.
• Consider the resale value of the machinery: Machines usually go through wear and tear with use. Its value depreciates gradually with time. This element must be considered before purchasing a machine. With each passing year, the value of the machine will depreciate and if you resale it you will not be getting the proper value of the machine. Used machines are bought at cheaper rates and hence finding an appropriate buyer will become an added hassle. But when you go for excavator rental you are no longer worrying about the resale value of the machines. You will use the machine for as long as you need it and return it back to the dealer in exchange for the rental charges.
• Compare the buying and renting prices: The easiest way to decide whether to buy any equipment or to use services like excavator rental is to compare their prices. Usually, the price of machinery when purchased will cost you more than what you will spend on a rental. Purchased machinery is required to be maintained on a yearly or monthly basis along with their insurance. All these add up to its overall cost which can be easily avoided when machinery is hired.
• Management of fleet and inventory control: Equipment management and controlling the inventory is a major task which is required to be considered. Every machinery you purchase needs to be stored, maintained, insured and for this, you must have time and necessary skills. If you do not have employees or time to perform the management of the machines it is recommended that you go for excavator rentals rather than purchasing them.

Purchasing machinery or hiring them both have their own advantages and disadvantages. Depending on your affordability and the above-listed points you can decide whether to go for excavator rental or purchase them directly.