When it comes to acquiring an excavator, you’ve got two options: either to buy and own or hire on rent. But your decision at this stage calls for more than comparing costs. Whether you’re looking to expand your company’s fleet for new business ventures or you’re looking to expedite your project’s progress; you have to keep in mind the uncertain prospects of future work and weakness in construction activity. The most important factor to look into is your finances as a business.
Being a hefty investment, you just can’t make such a decision in haste. It’s a major decision and you have to be practical to find the best solution for your project and business. Investing in an excavator is not quite where the expenses end – there’re operation and maintenance costs as well. In contrast, hiring an excavator gives you financial freedom and you don’t have to worry about any of such expenses apart from the fuel.
So, let’s now explore the reasons why hiring an excavator is more financially sensible rather than buying one.
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No Commitments
When you purchase heavy machinery you’re always anxious to make the most out of it. You’d like to make sure the machine is used throughout their practical life. There’re more commitments like warranties, service-contract, financing options, interest rates, and way too many. So, buying an excavator is a long-term responsibility. Opposite to that, hiring an excavator will keep such worries at bay.
No Storage or Transport Costs
Yes, when you invest in heavy-duty equipment; you need proper storage space plus you have to bear the transportation costs. Excavators, no matter what size, take up a lot of space and you need to invest in making parking sheds. So, if you don’t have any of such arrangements ready investing in an excavator will cost you a lot. In contrast, with excavator hire, you only have to call the agency to deliver the right piece of excavator and there’re no worries or hassle of finding storage for the machinery.
No, Wait – No Losses
By hiring an excavator, you’ve got on-demand delivery and pickup for the exact time frame you need. If you need it for a week, you can get it right away. Excavator hire rates are often very cost effective. You can arrange your resources accordingly and there’s no worry for your labor to sit idle and wait for the machinery to arrive. As the rental agency keeps its machinery in tiptop condition so you won’t have to worry about the fail and waste of job hours while an alternative is found and transported.
Use The Latest Technologies
One of the biggest pros of hiring an excavator is that you get the latest and greatest of the technology available. These up-to-date features in the latest technologies can benefit your business greatly by enhancing efficiency and specialization in your project. All the rental agencies tend to have the latest equipment in their fleet to stand up among competitors and that’s what allows you to have the most updated models and technologies.