Buying vs. Renting – How an Excavation Equipment Rental Is More Efficient

Economic conditions and market uncertainties have an impact on decisions related to the addition of new machinery to contractors' fleets. If now is the time, then you need to think about what is the best option: renting or buying excavation equipment. The best option depends on the situation and the needs of each excavation company.

Renting

Renting is usually the most popular option for short-term needs (months or weeks). Small companies that do not own numerous machines can therefore rent more often. But those interested in renting must also take into account the availability of the equipment. The more standard a machine is, the more likely it is to be available for rent, while specialized machinery is usually more difficult to find and rent in the short term.

used bobcat for sale Colorado
Buying

Some companies prefer to buy the machines because they are part of their long-term capital strategy (which may also be the case with leasing, but not with rentals!). For instance, searching for an extended warranty used bobcat for sale in Colorado with a service contract will ensure that the purchased machine receives proper maintenance. Currently, large machine brands (and their dealers) offer machine function monitoring services; these systems alert owners and/or dealers about any problem that arises and may send preventive or update notices.

 

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