As an excavation contractor, you ultimately have to decide between buying and renting excavator equipment. Of course, we have a bias towards renting given that we rent out excavation equipment, such as breakers and ho packs. Nevertheless, we will point out the pros and cons of each.
To Buy or Rent Excavator Equipment?
Assess Your Financial Situation
Is buying cheaper than renting in the long-run? Sometimes, but not always. Many factors come into play, such as how many projects you have lined up, and your ability to consistently pay for maintenance.
Renting definitely makes more sense for a short-term or one-off job. If you foresee consistent projects ahead, then buying may be more cost-effective in the long-run. However, you also have to consider ownership costs, such as maintenance, repairs, insurance, license fees, etc. The rental company bears the burden of these costs when you rent. Continue Reading â†'