Buying vs. Renting Excavators: Which is the Right Option?

 

Construction is one of the rapidly growing industries in the United States. The sector is likely to reach USD 1,419,192 million by the end of 2023. (https://www.prnewswire.com/news-releases/united-states-construction-industry-databook-report-2023-market-is-expected-to-grow-by-6-1-to-reach-1-419-192-million-in-2023---forecast-to-2027--301748275.html) If you are in the construction industry, you must already have an idea of the different equipment essential for completing a project.

 

Excavator is a prominent equipment that finds wide use in the industry. There is often confusion about whether to opt for large excavator rental or buy them. In this blog, you will know all details that will enable you to make the right decision.

 

Factors Affecting the Choice

·        Project Size

Are you working on a big construction project in which you will require the excavator for several months? If yes, buying an excavator is an ideal option. But what if you need the equipment for a short period of time only? In that case, opting for mini excavator rentals is the right choice.

 

• Financial Situation 

When you have sufficient funds available for your construction project, you can buy the excavators and get the job done. However, if you are on a tight budget and want to lower your costs, renting the equipment is a wise decision.

 

• Location of Job Site

While working in remote areas, buying an excavator may not be a smart move owing to the challenges in transportation. That is where the rental services come to help. The rental companies can provide you the construction equipment in both populated and remote areas. So, without having to worry about the transportation of the equipment, you can easily complete your project on time. 

 

What Makes Renting Excavators a Better Option than Buying?

Excavator or bulldozer rentals prove to be a better option than buying. Wondering why? Consider the following benefits that renting can provide.

 

• No Long-Term Commitment

Renting an excavator allows you to hire the equipment only when you need the equipment at the construction site. That means you do not have to worry about the storage and maintenance requirements. From changing the oil to sharpening the blade, everything will be taken care of by the rental service provider. 

 

• Saves Costs

Buying an excavator is undoubtedly expensive. In case you want the equipment for a specific project only, you would not want to make such a huge investment. That is where renting proves to be budget-friendly. It is a comparatively cheaper option than buying. It can enable you to bring down the overall cost of the construction project and make more profits. 

 

• Flexibility

Renting can provide you with the flexibility to choose the right equipment for your different projects. For instance, you can hire a mini excavator for one construction project and a large excavator for another.

 

Conclusion

Need construction equipment for your next project? Renting them from a reputed company can offer you huge benefits. It allows you to complete your construction project smoothly while saving more on costs. Are you looking for track truck rental or articulated dump truck hire services? OEC Rentals can be your one-stop destination. Talk to the expert professionals and discuss your construction equipment renting needs.