Buying an excavator will only make economic sense if you are handling large, long-term projects. For a small private project in Brisbane like changing the water line, renting a digging machine would be the best decision instead of buying.
Why spend thousands of dollars on a machine you will barely use twice a year? It makes no financial sense. You can do something more productive with this money if you opt to rent. There are many benefits and advantages of equipment rental, and here are some of them:
1. No Upfront Cost
The initial cost of buying an excavator is a huge amount. Even small diggers like the Kubota U17-3 Mini excavator will cost you thousands of dollars to buy. Buying such equipment for a small project is a waste of resources when it would just cost you a few hundred dollars to hire. It is only through renting you can avoid the upfront cost.
2. Reduced Long-Term Expenses
If you purchase an excavator, one of the things manufacturers insist on is maintenance. You will need to adhere to the provided maintenance schedule to keep your machine in perfect condition. Making repairs and replacements will cost you a lot of money in the long run. If you rent, the hiring company will take care of all these costs. Take a look at our guide on how to choose an excavator for more details.
3. No Storage Headache
One of the crucial maintenance tips for excavators is proper storage when not in use. You need good storage to protect your excavator from harsh weather conditions. This means more cost and probably eating into your compound space. With excavator hire, storage will never be a problem. The hire company will take care of their machines.
4. Avoiding Transport Costs
An excavator is not like other earthmoving machines. You cannot just drive to the site. You need a trailer to transport it to the site. If you decide to buy, you also need to sort out transport issues by hiring a trailer. The whole procedure becomes very expensive and inconvenient. Rentals will save you from all transport headaches. The hire company usually includes the cost of transport in the quote.
5. Range of Attachment
With rentals, the hire companies provide you with a range of attachments for multiple tasks. If you need to break concrete walls and surfaces, you can hire breakers such as FX Alpha Series Hydraulic-Breaker FX 15 together with the excavator. If you want to lift concrete sleepers, you can add Sleeper Grab to the attachment. You can hire multiple attachments for just one excavator.
6. Latest Excavator Models
If you choose to buy an excavator instead of renting, then you will be stuck with one technology for a long time, maybe until you upgrade. The experience is different with rentals, where you enjoy the latest technologies in the market. Reputable hire companies are always upgrading their collection with the latest models.
7. Range of Excavators
In most projects, it is economical to use various sizes of machines for specific tasks. What if you buy a mini-excavator and later realise you needed a standard or large size model too? By renting earthmoving equipment, you have a range of excavator sizes to select from. You can hire a standard size such as Kubota U35-4 and a larger machine such as Kubota U55-4. You can hire as many sizes as you need. Owning an excavator won’t offer you such an experience.
8. Avoid Depreciation Cost
The excavator will start losing value immediately once you buy an excavator and take it away from the showroom. Even if you haven’t used it, you can’t return it to the seller and fetch the same amount you paid. The cost continues depreciating as you use the machine and as it gets older. You can avoid getting trapped into the depreciation cost by going for excavator rental. You will only pay for the period you need the excavator, and that is it.
9. No Compromises On Machine Condition
When renting, you don’t compromise on the condition of the machine. You get what works for your project and get value for every dollar. However, if you choose to buy, the high cost will force you to get what fits your budget. You might find yourself going for used excavators. With rentals, the hire companies usually stock the latest excavator models and big brands like Kubota.
10. Reduced Downtime Losses
Those who choose to buy excavators instead of renting are likely to incur huge losses due to downtime. When the excavator stalls or breaks down, you will still pay workers for doing nothing. With rentals, the machine is supplied on-demand to keep your project going. If the hired machine breaks down, the company will take care of repairs.
Renting excavators and other earthmoving machine is the best decision for short-term projects. You will spend less money on the equipment and still get the same or better results. By renting from Allwell Hire, you will also be able to easily transport your equipment anywhere in Brisbane, including areas such as East Brisbane, thanks to the provided trailer.
Considering whether to hire or buy? You may find our discussion on whether to hire or buy a wood chipper helpful.