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Compact Excavator – Renting Vs Buying

30th May, 2018

 

Is it better to hire or buy a mini digger?

When you are looking to acquire a new compact excavator, there’s a big decision to make: should you buy a mini excavator or hire one? This decision calls for a lot more than just comparing the costs.

Investing in even small equipment like compact excavators is a bid decision. Is it better to buy it and use it as and when needed? Or should you rent it as and when you need it or until you feel the buy decision is justified?

You must consider a variety of factors to be able to decide between buying and renting – here are some aspects you need to consider.

Your Financial Situation

This is an important factor to consider. Do you currently have the means to buy a compact excavator or is rental the better option in the current situation? Be sure to project the costs over the longer term to get the full picture.

Even though buying a machine is a one-time investment, renting a machine can quickly add up from a cost point of view. Often you might end up paying more, especially if you are frequently using the equipment for a long term project.

Scope of Your Projects

Take a long hard look at the scope of your projects. Are the duration of the contract and the workload big enough to justify a buy decision? Or are your needs more sporadic, do you need the compact excavator temporarily?

Job Type

This is a huge factor that can help you decide whether compact excavator renting is better than buying. If you frequently require different weights and sizes of machines due to varying projects then purchasing might not the best option for you. The flexibility and options available from mini digger hire could be your best solution.

Frequency of Jobs

How often are do your jobs require compact excavators? Once a month, give our hire desk a call. Every day, owning your own mini digger might be the most cost effective solution.

Cost

It is crucial to determine the cost of compact excavator renting versus ownership. When you own a machine, you must bear a variety of costs such as maintenance costs, operating costs and insurance.

On the other hand, renting includes everything. However, the rental fees can often exceed the cost of purchase if hires are frequent enough.

Availability

The biggest advantage of buying a compact excavator is that it’s at your disposal all the time. When you own a machine, you can manage last minute changes or schedules without much thought. You can even take on a new job instantly and complete jobs without much disruption or the need to factor hire into your project quotes.

In Conclusion

Whether you buy or hire a machine, each decision has its own pros and cons. The final decision depends on your requirements and situation. Take your time to consider all the aspects.

Whether you want to buy or rent a compact excavator, MTS Plant can help. We are the leading compact excavator hire & sales agency with a nationwide presence. Get in touch with us today to discuss your requirements – call 01924 387 007 now.

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Testimonials

Andy Richardson – Wetherby Tool Hire

We have been working with MTS Plant for just over 12 months now and have found their service and support second to none. Vanessa, Jenny, Matt and the team are fantastic and will always go the extra mile to meet our requirements. We have regularly used MTS Plant for Dumper and Excavator hire throughout this period and have found their range of machinery very reliable & of excellent quality. I would 100% recommend MTS Plant Hire.

Mark Dormer – Contracts Manager – Furness Brothers Ltd

We have used MTS Plant for a number of years and have been constantly impressed by the service provided. We work in a quick-moving industry where our requirements for small machine hire can be at short notice and highly varied. MTS Plant manages to keep us supplied with quality machines along with great customer service. We look forward to driving our business forward knowing that we have the resources to satisfy our customers needs without the high expense of owning our own machines.

John Cassidy – Travis Perkins

MTS has been a great company to cross hire small plant in for our customers. The great thing about MTS is the friendly staff who are very committed to making sure Travis Perkins is a priority customer and will move things around in their daily transport too fit urgent orders in. Myself and my team now use Mts as our first point of call as we have confidence in how the business works from the staff to the machines themselves.

Paul Kinsella – Easy Driveways

MTS has arranged for us at times very short notice the most diverse ranges of hire equipment, even nationwide. We first started using MTS a few years ago now an don’t hesitate to call the well mannered and excellently informed staff, We have experienced difficulties when on hire and the response was second to none, from the delivery drivers to the mechanic’s, the professional advice and service we haven’t matched anywhere in my 32 years in construction.

The branch at Leigh is always ready to accommodate our needs and they do it with a cheerful professional manner every time.

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