Excavator Cost: Renting Vs Buying

As heavy duty equipment, excavator is often needed in a project of construction. However, this machine is very expensive. On the other side, you need it for your construction project. So, you have to options to decide. You can consider renting or buying it. You have to decide it carefully and wisely by considering excavator cost.

Cost of Renting Excavator

Renting excavator cost depends on the excavator itself. You can rent a mid-size excavator for about 3,000 dollars to 6,000 dollars per month. If you consider renting weekly, it may cost around 1,000 dollars to 2,000 dollars. You can also consider daily rent for 300 dollars to 600 dollars per day. For a compact mini excavator, the renting cost range 2,000 to 3,000 dollars per month. If you want the larger excavator, its renting cost will be 5,000 to 6,000 dollars per month.

Pros and Cons of Renting Excavator

Renting an excavator is appropriate for you who want to use it for short term project. So, you can decide renting it monthly, weekly or daily. Even more, some renters also allow you to rent it per hour. After you know about excavator cost, you can prepare the budget before renting it. Then, renting an excavator for no long term use also requires low budget. So, it will not break your bank account. However, you do not have the right to have it. So, if you rent it for long term project, it will cost very high.

Prices of Excavators

If you consider buying it, do you know about excavator price? A full-size excavator is usually priced about 100,000 to 500,000 dollars. However, it may still require some additional cost. For example, you need to buy additional bucket so that you need to spend around 1,000 to 5,000 dollars. You may also need to buy some attachments like hydraulic hammers, blades and rakes that cost from 5,000 to 10,000 dollars per item.

Pros and Cons of Buying Excavator

If you buy an excavator, it means you own it. So, you have the right to use and operate it anytime you want. You are not limited by any rule. Besides that, you can also get tax advantages. In 2012, you can deduct 139,000 dollars if buying excavator. However, buying an excavator requires so much money. Besides that, it will be wasteful if you only use it for no long term project. By considering excavator cost above, which one do you prefer?

Description: Excavator cost is different between renting and buying. Each of them has its own pros and cons. So, you have to decide to rent or buy it wisely.

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