Should I Rent or Buy an Excavator?
When you have major work to be done in construction or landscaping, there’s no getting around it: you’re going to need heavy equipment. One of the most common pieces of heavy equipment you’ll find on any worksite is an excavator. These versatile machines can perform many useful tasks like clearing away earth, digging trenches and removing or distributing loose materials.
However, excavators are costly and you may not be certain whether owning one or renting one is the better option for you. Synergy Equipment, with locations in Florida, Georgia and South Carolina, is your Southern excavator dealer. Below, we’ve outlined some of the factors you’ll want to consider when you decide between buying or renting an excavator.
Consider Your Finances
Think about how much you can afford to spend on an excavator. Don’t forget that when you buy an excavator, you’re also going to have to pay for maintenance, fuel and storage costs, along with attachments and any additional gear you’ll need to use it. It may be more cost-effective to look into a used option, but even this requires you to pay those extra expenses.
For some work, it may be best if you rent the equipment on a temporary basis since you won’t have to worry about upkeep and storage. Those who require the use of an excavator sporadically probably don’t need to own one and let it sit unused in a storage facility for months on end.
What Is Your Work Like?
The type of work you do will also impact your decision as to whether you should rent or buy your excavator. If your work can be done by one machine and some suitable attachments, then buying is the best option. If you find yourself requiring different machine sizes and types for a variety of projects, then renting the correct size of excavator when you need it may make more financial sense.
How Often Will You Use It?
If you really just need an excavator for a one-off job like digging out a plot in your backyard, renting is going to be your best option. If you have a lot of tasks that could be made easier and faster with the use of an excavator, then buying one will make much more financial sense because the costs of frequent rental add up quickly and the time lost in obtaining and returning the equipment can put a ding in your finances.
Is Immediate Availability a Concern?
When you rent a piece of equipment like an excavator, you’re beholden to the selection that’s available at that moment at your local rental facility. You may have to put off your work if you need to wait for the right type of machine to be returned for your usage. If you have jobs that simply can’t wait, rental might not make as much sense because you won’t be able to complete work on schedule, which can damage your relationship with your clients.
Owning an excavator means that you always have the machine at the ready right when you need to use it. You know where it’s stored and you can get it ready and haul it to your worksite in a timely manner, saving time and money. While the additional costs of ownership can be a lot, they may be worth it if you’ll otherwise lose work opportunities due to not having the equipment you need available right when you need it.
Whether you want to rent or buy an excavator, you can visit our website to see the many options for renting or buying a new or used excavator at our many dealerships throughout the South. Synergy Equipment proudly serves the states of Florida, Georgia and South Carolina.