Excavators are an indispensable part of any site development fleet. With their versatile capabilities from excavating and grading to demolition and river dredging, it’s easy to see why excavators are a frequent part of fleet expansion plans. If changing project needs and/or fleet diversification are driving the need for an excavator, but your company isn’t positioned to make a purchase, renting may be the best solution.
Today, the decision to rent is largely driven by job-site factors and financial perspectives. “Contractors have to ask themselves-do they want to lock into a purchase? Or do they want a short-term known fixed cost on a machine for a particular project, returning the machine when it’s no longer needed?” says Aaron Kleingartner, Doosan segment application marketing manager. “They may also consider the possibility of purchasing the machine later if it will be needed for an extended period of time. Renting provides business options, and it lets them see how a certain excavator meets their needs, without long-term risk,” he adds.
Although rental presents a completely different financial scenario than an acquisition, it shares one critical aspect: A responsive and qualified equipment dealership can help you navigate the process. Like any fleet addition, manufacturers universally recommend that a good first step in a rental consideration is to look at job factors, and then broaden the evaluation to include a review of available capital resources, machine capabilities, and estimated operating costs.
Scope of Work and Utilization Strategies
The most practical job factor is the scope of work you expect an excavator to perform. If you have a relatively short-term project and your expected work volume for a particular excavator is fairly minimal, it probably makes good sense to arrange a rental contract. With the right excavator and attachments you can perform multiple tasks. However, if you can’t immediately justify the use of the machine beyond your current contract and don’t envision it generating revenue on a regular basis, then rental may be the best solution.
