If your company mainly operates compact equipment, a large excavator is a great way to gain the extra boost in power you need for bigger jobs. And while there are many benefits to owning equipment, large excavator rental options are a great choice for those who want to validate the financial commitment of a purchase. From fixed monthly costs to saving money during tax season, here are the top five benefits of choosing a large excavator rental.
Renting a large excavator is a great way to check out how the machine will perform on your jobsite before you decide to buy. It allows you to use he large excavator on a variety of different jobsites for an extended amount of time. Not only does this give you and your crew the opportunity to use the machine for as many hours as you’d like, it also lets you see how the large excavator operates under a variety of jobsites and conditions. So, at the end of the rental agreement, you might have a better idea of whether renting or buying is the best option for you long term. This is especially beneficial for companies who are hesitant to make the financial commitment to a larger machine.
When you purchase a large excavator, you’re financially committing to maintaining that machine throughout its lifecycle. With a large excavator rental, you have access to a trustworthy dealership – like your local Bobcat dealer – with reliable mechanics who are dedicated to keeping your rental up and running. So, unlike with a privately-owned machine, you’re off the hook for any potential repair or routine maintenance costs. Large excavator rentals also offer fixed monthly payments, so you’ll have an easier time zeroing in on exactly what your monthly equipment costs will be.
When purchasing a new piece of equipment, it’s important to determine how you will store the machine and how you will transport it to and from the jobsite. If you’re primarily operating compact equipment, a large excavator might not fit in the same storage facility – or on the same trailer – that you currently use. A rental option can save you the headache of managing those logistics. Many dealers will deliver the large excavator to your jobsite and pick it up whenever it’s most convenient for you. That way you can spend more time managing your jobsite, and less time worrying about storage and transportation logistics. Simply send the large excavator back to the dealership when the job is done.
There are many things to consider when it comes to your businesses’ tax return, but opting for a large excavator rental might give you a slight boost come tax time. Rental expenses are deductible while purchased equipment is taxed at a depreciated rate over its lifetime. This means, generally speaking, rental expenses are more financially flexible when compared to an equipment purchase. Depending on the nature of your business, they can even be viewed as a project expense or have additional tax deduction benefits. Talk to your local tax advisor to see how renting a large excavator might save you cash come tax time.
A large excavator rental is a great way to sharpen your competitive edge. For small- to medium-sized companies, it can be difficult to keep up with larger competitors who have access to the newest technology and equipment like the all-new 115-hp E145 or 131-hp E165 large excavators from Bobcat. Renting your equipment can shift that narrative, so you can gain access to the best equipment on the market.
Ready to learn more about how a large excavator can benefit your jobsite? Check out these tips to find out if a large excavator is right for your next project.