Five Reasons why you should rent an excavator instead of buying one
Shiny, large, strong and efficient! You stare at that big work of man’s intelligence and you can’t help but imagine the possibilities of owning that beautiful excavator. You think about all that you could achieve with such indispensable equipment. Just before you start rolling out the cash, you have to stop and realize that renting it can give you more benefits.
The demand for important construction equipment like the excavator has increased over the years and so has the rental market. Companies have begun to explore the rental market and enjoy the numerous advantages attached to it. To learn more, read this guide that compares excavator rental rates.
Here are five reasons why you should rent an excavator.
1. You don’t have to pay for it when you are not using it.
An excavator is an essential tool in construction but it’s also one that you may not always useful for a long period. If you have a project that requires it for a short time, you can always return it to the rental agency. That way, it doesn’t take up space and you don’t have to spend money on maintaining it. The rental agency will handle that.
2. Access to the latest technology
Because the rental agencies always want to stay on top of their competition, they always go for the latest technology. They supply construction companies with the latest machines that comply with the emission regulations as well. You can keep abreast of the latest brands of excavators in the market and this will help you get more clients.
However, latest excavators with modern innovations will enhance work force and improves productivity.
3. You can avoid maintenance Costs
A lot of rental agencies make provision for maintenance and repairs. You have to check your contract to see all the offers that are available to you. This will also ensure that you don’t have to hire your technicians and specialists. That means you have more money to invest in other areas of your company.
4. You can cut storage Costs
An excavator can take up a huge amount of space. If you decide to buy one, you will have to think about having a good storage facility to keep it safe from the elements. That will mean more capital for your business. This will also slow you down. When you opt for rent, you don’t have to worry about where to keep it when it’s not in use.
5. Cut Transport Costs
The cost of transporting an excavator across the country can make a huge dent in your profits. For instance, if your company is on the East Coast and you get a project on the West Coast, the cost of transporting these huge machines is something you have to think about.
A smart choice is to rent one from an agency close to your construction site. You won’t even have to worry about delivery and you can save tons of money.
The benefits of renting an excavator are endless. The money you save from renting an excavator and other construction equipment will enable you to explore other opportunities.
Renting an excavator will give you the freedom to put more capital in other projects which is something you won’t have the privilege of doing if you purchase one.
You can also take on special projects that need efficiency and still make more profits. This will also help you with tax deductions as rental costs can easily be added to your company’s expenses. This won’t look bad in your balance sheet either! Renting your construction equipment will also help you build and preserve your company’s borrowing power.