Top 3 Benefits of Renting Construction Equipment
- February 04, 2021
- Doris Gray
Are you a contractor in need of some construction equipment rental? Very few contractors have the ability to purchase their own equipment. This is where renting equipment comes into play. Below are the top 3 benefits of equipment rental.
No Initial Purchase Cost
If you want to know how expensive it is to buy construction equipment versus renting, here is a quick breakdown:
• Bobcat 1,600 pound skid steer – $20,000 (Average renting cost is $175/day*)
• Caterpillar forklifts 33,000 lb – $74,000 (Average renting cost is $225/day*)
• Small excavator 10 to 15 tons – $80,000 to $150,000 (Average renting cost is $150 to $1500/day*)
* These are estimates, to get a real value, you would need to make a few calls and get some quotes before hiring equipment.
It’s easy to see how expensive buying your equipment outright would be. Renting, on the other hand, allows a company the freedom to better allocate their resources.
No Maintenance & Repair Costs Incurred
When you own equipment, you have a responsibility to make sure that the equipment is serviced regularly. This isn’t cheap. Regular maintenance and routine checks need to be done to ascertain whether the machinery is fit for use or not.
Renting construction equipment, on the other hand, allows you to avoid the costs associated with maintenance work. You don’t have to bear the burden of making sure that the equipment is always in tip top shape so that it has a long life-cycle.
No Need to Worry about Storage
Imagine owning an entire fleet of equipment! If you owned this much construction equipment rental, you would have a nightmare trying to find a suitable and affordable property to store it. The storage area would have to be a place that doesn’t experience harsh weather as this may cause the machines to depreciate. Opting to rent construction equipment puts you in a better situation.