According to the Association of Equipment Manufacturers, the invention of the first excavator dates back to 1835 when 22-year-old William Smith Otis invented the first steam shovel. Since that time, there has been an age-old question that crops up among people who are in need of an excavator. They want to know whether they should buy, or rent. They ask this question because they want to know which choice makes the most sense for them based on their needs and potential financial constraints. Today, we’ll look at excavator rentals and other options that could make sense for your situation. We want to be sure that we go over all of these details very carefully with you so it’s clear what your options are. You’ll find out how to can make progress on whichever option you ultimately decide to go with.
Benefits of Renting
If you only need to use an excavator once or twice, then you’re probably better off renting one rather than buying one. These are expensive pieces of equipment, and it’s not wise to pay an excessive amount of money for something you’re unlikely to use very often. You won’t have to worry about maintaining the excavator or repairing it if something breaks. You won’t have to think about storage or transportation either. Renting also gives you the ability to use larger excavators if your project calls for heavy machinery.
Benefits of Buying
If you own an excavator, then you can set your own pace of work on any project you’re handling. This means you and your team won’t feel the constant pressure to get more work done on a particular renting schedule. You’ll know for certain how much work needs to get done and how you’ll get that work done. At the same time, you never have to worry about paying additional fees for damage to the equipment, or if you need it for an extended period of time. The excavator is yours to use whenever you need it. If there comes a time when you don’t use it as much as you thought you might, you can always resell it to recoup a percentage of your investment. It is totally up to you, but you should remember that ownership of your excavator is an option you have.
As you can see, there are benefits to both buying and renting. Buying an excavator allows you to work with your own equipment whenever you want. You won’t have to worry about working with another company or paying extra fees. On the other hand, excavator rentals might make sense if you don’t want to worry about maintaining a huge piece of equipment. You also won’t have to worry about storing or transporting the huge machine either. Renting is typically the better choice for most companies. Reach out to us today at Ferri Equipment for all of your construction equipment rentals.