Did you know that the introduction of bucket wheel excavators in the 1920s was one of the first pieces of earthmoving equipment?
Earthmoving equipment is a collection of heavy-duty vehicles built for use on earthmoving works-related construction projects. For example, companies use earthmoving equipment to excavate construction foundations, transport vast quantities of surface material, etc. They encompass large types of machinery such as construction vehicles, heavy trucks, engineering equipment, heavy hydraulics, and more.
All businesses in today’s economic climate need every competitive advantage. If your company uses earthmoving equipment regularly, it pays to investigate and compare the prices of earthmoving equipment rental against the costs of buying and owning it.
The building industry, followed by the mining sector, currently has the highest demand for global earthmoving equipment. Additionally, the growth in public infrastructure spending will raise the need for earthmoving equipment globally in the years to come.
Do you have any doubts about renting earthmoving equipment? Then, read on to see eleven fantastic advantages of renting earthmoving equipment.
What Is Earthmoving Equipment?
Earthmoving equipment is a group of the most recognized pieces of machinery on a construction site due to its size and force. They are used in a wide variety of contexts. For example, some of the many applications of these machines are:
- Digging of foundations
- Rock removal
- Digging of trenches
- Soil grading
- Demolition of structures
- Other earthworks
Examples of some of these earthmoving equipment include:
- Wheel loaders
- Trenching machines
The above is a list of some of the most widely used earthmoving equipment in the construction business, each suited to a specific set of activities.
1. Earthmoving Equipment Rental Saves Money
Renting big equipment is often seen as an expense for a business, not as a liability on the balance sheet. This means you save more money to use it where needed to grow your business.
The cost of purchasing heavy machinery is high. Of course, for some companies, purchasing makes more sense than renting as they use that particular earthmoving equipment repeatedly. Others find that renting is a more straightforward financial commitment.
Put an End to Paying For Unused Earthmoving Equipment
When you rent earthmoving equipment, you use it and return it when you have no more need for it. Therefore, you only pay for the time you use the equipment.
On the other hand, if you own a piece of machinery and no longer need to use it, it will sit in storage for an undetermined amount of time. Then, even if you don’t use it, you still have to pay all its costs.
Save With Tax Deductions
The costs of renting earthmoving equipment are an expense that can be deducted from your taxes. But, the costs of purchasing equipment are taxed at a depreciated rate throughout its lifetime.
In certain circumstances, renting equipment, such as wheel loaders or other pieces of equipment, might be considered a project expense, and the rental cost can be charged to the client.
Save on Maintenance and Repairs With Equipment Rental
Many pieces of earthmoving machinery incurs high repair costs. Upkeep and routine service of the machines are essential for trouble-free operation. So, if you have your own fleet of earthmoving equipment, you will bear the costs of keeping a maintenance team of experts dedicated to this task.
Mechanics must perform timely tasks to keep these machines at peak performance. These tasks entail:
- Checking fluids and hydraulics
- Performing periodic services
- Replacement of parts
- Updating of software technology
The cost of repairs and upkeep for a privately owned earthmoving equipment fleet is more complicated to anticipate than rental rates. However, when you hire equipment from a worldwide reliable earthmoving rental company, you can rest assured that it will be in excellent working condition.
Reduce Costly Waiting Times
Every business owner who operates construction jobs knows that every minute of missed production time is money down the drain. Also, a delay in meeting your deadline can eat into your profits. It’s a sad day when you have to pay staff to sit around for an item of machinery needed for a specific job to arrive or because a machine has broken down.
Due to downtime, don’t risk losing money or falling behind on your building project. Heavy equipment rentals allow you to get precisely what earthmoving equipment, when, and where you need it. For example, you can count on timely delivery and pickup if you need to rent an articulated truck.
Save on Storage Costs
When you manage your own construction or earthworks equipment, storage options are a need. For example, you need a secure place to keep your piece of equipment when it is not in use or not on a job.
Parking your earthmoving equipment requires space and a secure storage area. Construction business owners must therefore turn to rent suitable storage space when they have heavy machinery idle or if they don’t have the space or capacity to store said machinery.
You can also save on the difficulty of moving construction equipment to and from a job site by renting it only when you need it. And, of course, you also won’t have to pay the extra monthly storage fees.
Save on Transport Costs To and From Work Sites
It can be challenging and time-consuming to arrange for the transfer of your heavy equipment from its parked or stored place to the job site. However, you only need to make one phone call with heavy equipment rental.
The rental company handles the logistics of delivery and pickup, and many of them include the delivery price in the rental rate, so it doesn’t feel like an added cost.
What if your business is situated in one place but has a contract operation 1,000 miles away? It makes sense that renting locally would be more cost-effective than transporting your large pieces of equipment across the country.
2. Keep Up With Cutting-Edge Technology
A reputable provider of earthmoving equipment rentals regularly upgrades its fleet to include the most recent models available.
A business can gain a lot by using equipment with modern technology because it makes the project more efficient and specialized. So, for example, a rental company will have this specialized equipment that you, as a business, do not use all the time.
It goes without saying that from time to time, you will need this specialized equipment to complete a few specific tasks. This will give you the edge and save time, reducing wear and tear on your own business’s machines.
With earthmoving machines, in particular, you benefit from unadulterated strength, power, and precise performance for even the most exacting procedures.
Modern models have user-friendly technologies that offer metrics and other data that help with the actual work. For example:
- Grade control
- Automatic boom and bucket control
Many companies choose to use whatever equipment is available or that the company owns that is outdated. However, technology-based equipment selection can allow you to complete many current tasks with fewer pieces of equipment in less time.
Renting also eliminates any risk of outdated or unsuitable equipment, which can help you improve your ability to compete in the market.
A smart rental partner regularly rotates equipment out of the fleet to have the most recent models and technologies available. This ensures that you and your jobs use the specific capabilities with minimal cost.
3. Achieve Worry-Free Compliance
Air-quality regulations must be followed, especially in today’s environment with strict emissions rules. Laws can be perplexing. Standards infractions cost money and harm a company’s reputation.
Off-road equipment emissions are defined by horsepower and other factors. It’s difficult to predict how laws and rules will influence your business.
A good earthmoving rental company ensures regulatory compliance. No company needs its conformance status questioned; thus, emissions and safety laws must be met.
4. Give Your Business More Flexibility
In today’s business market, you need to be flexible due to several things. The main ones are:
- A major recession
- Sharp profitability
- Increasing regulations
- Volatile markets
- A growing need for specialized skills
- The general desire to provide good service, great products, and efficiency
Companies can respond to niche markets, finances, and demand changes by renting equipment. It’s a flexible option, especially when it’s explored in partnership with a trustworthy equipment partner.
5. Borrowing Power
If you look at a company’s finances in terms of its liabilities and assets, equipment debt and old equipment could make the company look less financially stable. This makes it harder to get loans from banks for the business. The less business debt you have, the bigger chance your business can borrow money is better.
6. Testing Before You Buy
Not sure which earthmover to buy? Renting is the best option to make a smart investment before buying. Leasing allows you to choose loaders, dozers, excavating machinery, articulated trucks,, and more.
You can test out different equipment types and sizes for forthcoming projects by renting them. Then, with the support of rental specialists, you’ll narrow down your decision sooner.
7. Avoid Market Volatility
Like any business, the equipment market has peaks and valleys. These days of a global epidemic, the future is unpredictable, and the amount of work is out of your hands.
That said, your company can weather economic downturns by renting heavy equipment. In addition, earthmoving equipment rentals are more flexible than buying, especially in poor times.
8. Keep Up With the Competition
We know how expensive it is to buy a new fleet every couple of years and sometimes certain jobs demand more modern equipment to help meet productivity goals.
When you rent, you can plan that rental companies usually have the newest machines in their fleet. Therefore, you can be sure that when you rent, you will get new machines to add to your fleet for a job site.
9. Stay Away From Long-Term Commitments
When you own a piece of equipment for a long time, many costs come with it. Assuming the machine isn’t being misused, there are the following:
- Warranties that require keeping records
- Preventive maintenance
- Carrying out routine costs
- Physical damage insurance
- Interest payments if the machine is bankrolled
- Emissions compliance, etc
- The opportunity cost of capital
Having your own equipment is a big responsibility, and it’s not right for every company. Also, when it’s time to buy new equipment, you’ll need to sell or trade in the old one. However, if you rent equipment, it will be in great shape, and you won’t have to worry about long-term commitments and such.
10. Reduce Your Stress Levels
It goes without saying rental companies rent heavy equipment. Thus, their reputation is everything. They must make sure to maintain their machinery to prevent breakdowns.
The rental firm handles all of the following, which you do not have to stress about:
- Delivery of the rented equipment
- Picking up the rented machinery
- Hauling to and from storage as needed
Just think of having all the earthmoving machinery needed to do your project without the trouble of major repairs, sourcing, compliance difficulties, transporting, storage, etc. In addition, you only need to make one phone call to rent heavy equipment.
11. Multifunctional Machines
Having the choice to rent gives you much more freedom than spending money to add to your fleet. You can also rent different types of attachments for machines that are easy to connect and interchange. For example, with crawler carriers you can rent one machine and add other attachments to it so that it can do different jobs.
Earthmoving Machinery At the Drop of a Hat!
As you can see, partnering with a company that provides earthmoving equipment rental has advantages. Heavy equipment dealers have the most up-to-date equipment options and direct access to legitimate manufacturer components and accessories for your rental needs.
Are you trying to track down the right earthmoving equipment rental? Then contact us any time you need assistance. We are happy to help!