One of the most valuable pieces of equipment for most construction businesses is the excavator. As with any valuable piece of equipment, you might be wondering if it's better to rent an excavator or buy one outright. A rented excavator might be the better choice for your business. Here are reasons why you should rent an excavator rather than buy one.

1. Your Business Might Need Only Occasional Use of an Excavator

If your business only occasionally needs the use of an excavator for a small project, then you should rent one. This is particularly true if buying and maintaining the excavator will deplete your operating budget. Renting makes it possible to get this critical piece of equipment when you need it without committing to long-term ownership.

2. It Could Be More Economical to Rent

Owning an excavator is a large investment for your business. You also need to consider the cost of insuring it, storing it, and maintaining it. If you only need the excavator on occasion, renting will often be more economical than buying one outright.

3. You Can Get the Right Size Excavator for Your Project

When your business needs an excavator, you shouldn't have to settle for whatever size is available. You need to rent one that's appropriate for the work you have planned. With a mini excavator rental, you can get a mini excavator, compact excavator, or other sizes that will be just right for your specific needs.

4. Renting Can Help Your Business Avoid the Risk of Depreciation

When you buy an excavator, it immediately starts to depreciate. There's a good chance that by the time your business completes its project and is ready for a larger excavator, the equipment will be worth much less than what it originally cost. Avoid this by renting instead of buying.

5. You Can Avoid the Hassles of Owning and Maintaining an Excavator

Part of owning and operating an excavator is seeing that it is maintained properly. You also need to ensure it's insured, registered, and has a current safety inspection. All of this will take time and money. When you rent an excavator, that's one less thing for your business to worry about.

6. You Can Keep Your Operating Budget Flexible

When you buy an excavator, it will be one more big purchase your business needs to make. This could cause you to re-evaluate other purchases if you are to keep your operating budget balanced. A mini excavator rental gives you the chance to get the right equipment for your business without having to commit any more money than you need to.

Need a Mini Excavator Rental?

According to CostHacks.com, you can save 60 percent on excavator rental costs by renting a machine monthly instead of renting it daily. Call us today to learn more about our monthly rental options.