Heavy Equipment Rental Prices ▷ Cost of Construction Equipment

Rent heavy equipment: Heavy equipment is an important piece that is required in almost any major construction project today.

Depending on the heavy equipment size and power, you should expect to spend between $600 and $1,500 a day to rent one. With monthly excavator rental plans, the cost will be between $2,000 and $5,000 a week.

If you are new to construction, then when renting heavy equipment it is important to understand the equipment that will be used on the job. Hauling equipment, in particular, is used to move construction supplies, soil drilling, and other materials.

Heavy equipment Rent Prices

Heavy equipment rental is becoming popular due to ease of rental and reduced operating costs. Heavy equipment rental costs not only significantly reduce overhead costs but also mean less expense in the short term.

By renting heavy equipment, you can achieve more flexible operations and greatly reduce your operating expenses. You will have the opportunity to easily complete short-term projects that require specialized tools.

You will also have continuous access to the latest equipment updates and technological advancements while reducing your equipment maintenance, repair, and storage costs.

The most popular heavy equipment rentals are construction equipment and earthmoving machinery, and you can easily manage your expenses by understanding how much it costs to rent this type of equipment.

How much does it cost to rent heavy equipment?

In a survey of business owners, CEOs, managers, and procurement professionals, heavy equipment rentals were found to be increasing across the country.

Whether this increase in rent is due to new trends in the economy or due to other socioeconomic factors, the rental movement is likely to stay.

As with every new trend, there is a fear of renting construction equipment.

Is it really more profitable to rent than to buy?
Is Construction Equipment Rental Best For Your Business?

Rent heavy equipment for construction

There is a clear factor for the growth of heavy equipment rental for construction: the “bottom line of the projects”.

In a project-based industry, too often construction equipment is allowed to collect dust until it is needed for a new project, doing so only leads to equipment depreciation.

Therefore, the rent can suppose a double benefit for the construction companies; Rental fees are often immediately deducted as business expenses rather than depreciated over a long period of time.

Thus, in the short term, construction businesses benefit immediately.

The gross cost of the rent is also more manageable in the short term. Let’s take a look at some industry averages and prices:

Mid-range excavators weighing 15-20 tons generally range in price from $ 100,000 to $ 200,000 new (they can cost $ 500,000 on large models). Renting an excavator averages $ 500 per day, $ 1,250 per week, and $ 3,500 for four weeks.
A new 6,000-pound forklift costs between $ 11,000 and $ 13,000. You can rent a forklift for $ 200 a day, $ 600 a week, and $ 1,600 for four weeks.
A 2,000-pound Bobcat skid-steer loader costs approximately $ 20,000 to $ 30,000. In the meantime, you can rent the same skid steers for $ 360 per day, $ 900 per week, and $ 2,400 for four weeks.
Scissor lifts cost about $ 22,000 new. But if you choose to rent, the same elevator drops to $ 100 per day, $ 250 per week, and $ 400 for four weeks.

Heavy equipment rental rates

Heavy equipment monthly rental rates

When researching your heavy equipment rental options, you will find that the initial investment is quite low, but you will need to properly and accurately calculate the overall heavy equipment rental costs considering all factors, including:

Initial daily or monthly equipment rental rates
The residual value of the equipment upon the return
Long-term interest expense and other equipment rental rates, such as repairs or maintenance.

Types of Heavy equipment for rent

Determination of various kinds of Heavy Equipment relies upon the measure of the work and economy of the undertaking. These make the development process simpler and quicker.

The use of heavy machinery and earthmoving equipment is categorized as follows:

Backhoe Loader: A backhoe Loader is one of the types of earthmoving equipment. They have worked on multipurpose work. Its machine also named is a loading backhoe. It is a machine like a tractor fitted on a bucket with the loader style on the front hoe on the backside.
Excavator: Excavators are mostly used in the construction industry. These machines have very simple but they work for many purposes such as heavy lifting, cutting of trees and demolition, etc. The Excavator work on a long digging bucket with the provided machine operator cabinet. Excavator cabinet rotating is 360o direction which can work on very easily.
Wheel Loader: The wheel loader’s other name is a front-end loader or bucket loader. It is mostly used for construction sites, mining areas, loading, and unloading heavy lifting material from one place to another place.
Soil compactor: Soil compactor is only used for the earth’s surface. In this case, different types of compactors are used in different ways at smooth wheel loaders and pneumatic tire rollers.