When it comes to getting an excavator, you can either buy it for your construction company or hire it on rent. But this decision alone calls for more than comparing costs. With the onset of uncertain situation and weakness in construction sector, the companies are finding it hard to decide whether to buy a an excavator or have it on hand when and where it’s needed.
There’re host of factors that you need to consider when making this decision for excavator. So, don’t ever expect a straight-forward answer for such a tricky question.
Excavators are a high-volume rental item, especially in the range of 4 to 6 ton, and the demand is still ramping up. If you have an uneven pace of projects coming your way, the effective use of capital demands you to go with an excavator hire rather than owning one.
Anyhow, here’re some of the benefits of hiring an excavator:
There’s no need to arrange space for parking
An excavator take up a huge amount of space and at times it is difficult to arrange. So, if you’re looking to buy an excavator make sure to arrange a good storage facility to keep it safe from elements. But that’s not easy especially when you already have limited budget. Contrary to this, when you opt for rent, you only have an excavator when you need it and so there’s no point in arranging a parking facility.
No long-term commitments
When you own an excavator you may have to pay for its depreciation even when you’re not using it. That’s not true for rental excavator as you only hire one when you’re in a need. If you don’t need an excavator, you can simply return it to the rental agency as there’re no long-term commitments.
Chance to use latest technology
If you’re looking to enhance your productivity and workforce, you have to rely on latest technology. But that is not an easy thing to get especially when you own your own excavator. Getting an excavator is a hefty investment and you can’t get one every year. In comparison, rental agencies can give you excavators equipped with latest technology and updated features.
No worries for transportation charges
Hiring an excavator will cut transport costs significantly. If you hire an excavator from a nearby agency, you won’t even have to worry about delivery. But if you own an excavator you need to take it with you to the location of your new project. Such a hefty transport charges can make a huge dent in your profits.
No maintenance fees
Because of competition among rental agencies, they tend to offer maintenance-free packages. So, check your contractor if your rental agency has provision for maintenance and repairs. So, you don’t have to hire any technician or specialist to repair or maintain the excavator.
Hiring an excavator has countless benefits. It gives you financial freedom and you can invest more capital in other projects instead of purchasing such a big machine.
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