If you own a construction firm and a big project is coming up, then you would definitely need to have all your equipment in check. If you aren’t the type of owner can put $100K to $850K for a new CAT excavator, then renting or leasing the requisite machinery and equipment could be a viable option for you.
This guide will tell you all about the cost for renting an excavator, its purposes and a couple of tips to save up on expenses.
Excavator Rental Average Cost
Ready to dig up some crazy spots on your lot? The average cost for renting an excavator depends on the type of work it will be doing as well as the weight of work it will be facing. These factors are the key to finding out the best make and model to rent out for your upcoming construction project.
If you plan to rent out an excavator, the daily rate would be at $900 to $1750 while a weekly rate could go from $2250 up to $4650.
IIf you could rather settle for a mini excavator, the per day rate comes down to the range of $206 to $625.
Since a standard construction project typically takes more than 1 month, rental costs could shoot up from $6295 to $12,000 a month!
For example, if you are planning to rent a 40,000 – 44,000 lb. excavator from Big Rentz for a month, it would be $6,439. If you are just going to rent a 2015 VOLVO EC30DL for a day, Rental Yard offers this equipment under U.S. Equipment Sales and Rentals for the price of $950.
This is just a base fee, prior to ending your transaction online, they would ask you to fill up a form wherein your address will be placed. After doing so, you will be able to see the page load the extra fees such as delivery and pickup, insurance, tax, and environmental fees.
Here are the items that come with the above quoted sum:
- The Excavator – you can choose between a wheel or track excavator
- 1 Standard sized Bucket – this can range from 12” to 14”
- 1 Jackhammer – verify with the company the sizes and PSI capabilities available
- Fully fueled tank – from the store to your lot the tank will be fully operational
Other Costs to Consider
Knowing how much to rent an excavator, you would have to look at other costs you may incur during the rental period.
Fuel – you would need to refuel the excavators from time to time so as not to hinder your work. Upon return, you should make sure to have the equipment delivered with a full tank.
Equipment Storage – you would need to consider the amount of time that the excavator will be in your possession. Because of the size of the machine, it may not fit in a standard garage. Leaving it out in the open is a definite NO-NO. Storage rental rates for your rented excavator could go from $175 up to $399 depending on the size needed for it to fit.
Insurance – most companies will require you to purchase an insurance policy which comes along with the rent. This could be around 12 – 15% of the total rental cost.
Additional Accessories – if you plan to add different sizes of jackhammer attachments along with your excavator, then they could cost around $120 to $375 per day.
Operator Fees – if you or any of your employees have no experience in operating excavators, then operators for hire are widely available. The cost to hire a competent and licensed operator may range from $15 to $35 per hour.
Delivery – you can pick up the equipment with your crew provided that you have a truck that passes the requirements supplied by the company. However, if you don’t have this luxury, then you would need to pay for delivery charges which range from $175 up to $2,000 depending on the distance of the locations.
When it comes to renting excavators, following these tips will surely give you an easier time and find more cost-effective options.
Search for 3 to 5 companies near you that will offer you competitive prices. Have them perform demonstrations to review and check the equipment and try to bargain with them if they can deliver the equipment for no charge or if they would be willing to shave off the price of some of the accessories that come with the rental.
Before renting your preferred excavator, make sure that you have carefully read through all the terms and conditions of the contract. If possible, refer the contract through your personal legal counsel. Also, double check the scope of the insurance policy.
Maintenance expenses that result from wear and tear can be cut down if you take the time to maintain the equipment daily. Clean, oil and shine the equipment daily to avoid any significant and lasting damages on the machine.
Aside from having a professional handle the operation of the excavator, have your lot and plans inspected. This way, you can avoid the hassle and extra expense of needing to change the excavator model you will be using.
Remember that the quotes does not cover refueling. Keep watch on the fuel prices and try to refuel when the price is low.
Research on the possible requirements for trucks in order to avoid the delivery cost.
Aside from the previously mentioned rental companies, you can head on to Herc Rentals to see a price estimate for a daily, weekly or even monthly rental.
Excavator Rental Cost Factors
- Excavator – the price can vary depending on the model of the machine.
- Location – the type of land that you will be working on will determine the model to be used. Your location also affects the cost of delivery.
- Duration of the Project – the price you will pay is the total cost of the rent per hour. So make sure you have the target end date of the project.
- The weight of work – each model has limits on its use. Determining this can help you easily pick out the model you need for work.
- Age and Condition – the price of the rent may vary depending on the condition of the machine. It could be that one person got the same model for a lower price since it is already a second hand model.
- Availability – the price is also altered by the availability of the model. If the rental company only has 1 piece of that model in stock, then he can give it for a higher price if you choose to rent it for a long period. This happens because while the equipment is in your possession, the rental company loses possible income from other renters. That projected income will then be charged on the rental price they will provide you.
What Else You Need to Know
If ever you need to extend the rental period, contact your rental company at least a week before your contract ends or as soon as you decide that extensions need to be done.
Be informed that any damage to the equipment will undergo repairs. The cost of repairs will be charged to you as an additional fee at the end of the contract.
Excavators and other earthmoving equipment are very dangerous, read the user manuals and let a professional handle the machine.
Having all the information of how much to rent an excavator on hand, you can now work a smoother deal with all the rental companies.