Should You Buy or Rent An Excavator? We Discuss The Costs

An excavator is one of the most important pieces of equipment on any construction site. If you are a contractor, it is likely that you will need to rent excavators at some point during your career. But should you? There are many factors to consider when renting excavators including price, availability, and maintenance costs.

This article discusses how excavators can be rented for both short-term or long-term periods and what type of excavator rental agreement may be best suited for your needs.

Why Rent an Excavator Instead Of Buying

Renting an excavator is cheaper than buying.

If you have a specific project and don’t know when you will need an excavator again, excavator rental service is your best bet. As long as the company has access to them for rental purposes, this can be cheaper than buying one yourself without having it sit idle in storage or on your property.

You don’t need to maintain excavators if you rent.

As a contractor, there are many things you must do in order to keep your excavator up and running. You have regular maintenance tasks including oil changes, filter replacements, and blade sharpening—just to name a few. If this sounds like too much work for one piece of equipment, hiring an excavator is your best option.

You can rent for as long or as short a time as you need.

Renting an excavator is a convenient choice for those who need to unearth or move large piles of earth in the shortest possible time. You can rent an excavator if you only need it for a week, a day, or even for 4 hours.

No need to worry about storage space.

Renting an excavator is a great way to save space and time. If you have a piece of equipment sitting idle and unused on your own property, it takes up space that could be used for other things. The company you rent from will have excavators stored in a warehouse somewhere and they can just send one to your site.

No need to invest in expensive equipment that may only be used once.

 

When you’re only doing a one-time job, like building a deck or digging out your basement, it’s more practical to rent the equipment instead of investing in expensive tools.

Renting gives you access to all sorts of different machines.

Renting a machine for your project could be the best idea you’ve had. You get access to all sorts of different machines, including backhoes, bulldozers and dump trucks; whatever type of machine you might need.

It’s easy to find equipment rental companies in Brisbane.

Builders equipment hire companies are ready to answer any questions about their equipment and rates before you book so that they can provide the right type of product at a reasonable price.

Allwell Hire can provide you the most reliable machines you can rent, and we even have the best customer service in the city. So you get to decide as we give you your best options.

What is a Typical Cost For Renting a Mini Excavator?

The cost of renting mini excavators varies depending on the size and type. You can expect to pay around $260-$1800 for small excavators like the Kubota U17-3 mini excavator depending on the length or period and attachments you will need along with the said piece of equipment.

How Much Does It Cost To Own An Excavator?

The cost of excavators varies depending on the type, size, and make you choose. Generally speaking, mini excavators these days for example, with 10 to 12 feet dig depth and from 20 to 40 plus horsepower, would cost an average of around $30,000 to $60,000. There is an additional cost for attachments, with add-ons like buckets costing upwards of $4,000 as well.

You should also take into account other costs such as transport, fuel, labour, excavator insurance, excavator maintenance, storage and how often you expect to use the excavator.

When to Rent or Buy an Excavator?

As you can see, renting an excavator with the Kubota U55-4 excavator hire service is the way to go when you need one in a pinch and don’t want to make any long-term investments. However, if your business needs excavators on a regular basis or if you have special projects that regularly require excavators, consider buying one.

It’s best to go with excavators that are designed for industrial use if you are planning to purchase one.

It might not always make sense financially to buy something if there’s no guarantee that we’ll ever use it more than once or twice. If people rent excavators instead of purchasing their own they may end up saving money since companies also put those machines into the circulation causing rates to drop over time.

Ultimately, if these excavators are intended for short-term projects, renting is the way to go. Contact Allwell Hire if you require our excavator rental services!

Have more questions? Take a look at our article on the benefits of mini excavators.