How Much Does It Cost to Rent Heavy Equipment?

cost to rent equipment

In today’s competitive market, keeping operational costs low while trying to stay flexible and efficient is essential.

As the industry’s latest trends drive the operational landscape, heavy equipment rentals are becoming more popular due to renting's versatility and reduced operational costs. Costs of renting heavy equipment not only significantly reduce overhead expenses, but it’s also more management in the short-term, as well.

Costs of Renting Popular Heavy Equipment

By renting heavy equipment, you can easily achieve more flexible operations and greatly reduce your operating expenses. You’ll have the opportunity to easily complete short-term projects that require specialized tools while being available for specialized revenue sources. You will also have continuous access to the latest equipment upgrades and technology advancements while reducing your equipment maintenance, repair and storage costs. The most popular heavy equipment rentals are aerial equipment and earthmoving machinery, and you can easily manage your expenses by understanding how much this type of equipment typically costs to rent.

  • Excavators: For large-scale excavator equipment ranging between 15 and 20 tons, business owners can expect to spend anywhere between $450-$3,500 per day, depending on the machine's capacity. If you decide purchasing a new excavator is more appropriate for your business, you can expect to pay between $200,000-500,000.
  • ForkliftsForklifts can greatly improve your work processes, and for approximately $100-600 per day, you can have full access to this equipment versus spending anywhere between $10,000-25,000 or more upfront for a new model.
  • Skid loaders: Easily relocate materials with a skid loader — spend between on average $200-400 per day to use this essential piece of machinery.
  • Scissor lifts: Every type of business needs access to a scissor lift for easily and safely accessing hard-to-reach areas. While many companies can purchase a new scissor lift, it may be easier for you to rent a scissor lift when you need it for anywhere between $100-250 per day.

Other Considerations and Budgeting for Long-Term Rentals

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

  • Upfront daily or monthly equipment rental costs
  • Residual equipment value upon its return
  • Long-term interest expenses and other equipment rental costs, like repairs or maintenance

Call The Cat® Rental Store Today for All Your Equipment Rental Needs

When you rely on the quality heavy rental equipment options at The Cat® Rental Store for your next construction or landscaping project, you’re assured heavy-duty, reliable equipment that will perform efficiently and effectively throughout the duration of your most challenging jobs. Our experts are happy to help you select heavy equipment rentals that best suit your project’s specifications and your budget requirements. To learn more about our products, or to schedule a free rental quote, call 1-800-RENT-CAT or browse our equipment online and rent whatever you need from people who do whatever it takes.