Excavators are some of the biggest players in many different industries, particularly in construction. However, since the construction industry is generally based on projects, contractors rarely use excavators and other heavy machineries on a continuous basis.
Since these machines do not operate every single day of the year, it’s not uncommon for their resale value and overall value to degrade and depreciate.
This then brings us to one of the reasons behind the considerable demand for excavator hire in Queensland, mcfadyengroup.com.au explains.
The Hiring Advantage and Rewards
A construction company’s bottom line is one of the biggest considerations when it comes to expenditures as significant as purchasing heavy equipment. The combination of high purchase price and the value/quality depreciation common with irregularly used equipment makes rental services much more attractive.
Flexibility is another reward construction companies can expect with heavy equipment rental. They can choose whichever length of time is most appropriate for their needs.
Construction firms also benefit from the considerably reduced cost of maintenance and repair. While they do have to ensure that the machines are well-maintained, the rental providers shoulders the majority of the maintenance and repair expenses.
Cost-Related Factors to Consider
In many cases, hiring excavators and other heavy machineries are best for short-term projects, but they can also be quite cost-effective for long-term ones.
When deciding whether to buy or hire, consider the following:
- Length of time you will use the machine.
- Projected number of hours to be put on the equipment.
- Potential maintenance and repair costs.
All in all, how you are going to use the equipment in the future plays a crucial role in determining whether buying or hiring is more cost-effective. In many cases, rental is best for short-term projects, and if this is what your realistic expectations are, it’s best you stick with this option.