Almost all major construction projects require an excavator. It is one of the most important heavy machinery for a construction project. You can have all kinds of attachments and tools in an excavator, including a bucket, dipper, or boom. Apart from digging, construction engineers use excavators for several other applications. However, the cost of owning an excavator can be extremely high, between $100,000 and $400000. Many contractors, especially newbies, find new excavators’ costs quite steep. An excavator rental or mini backhoe for rent is an ideal option for contractors who are just starting or need the heavy equipment for a short-term contract.
An excavator rental’s average cost is between $900 and $1750 per day or $2250 and $4640 per week. Consider choosing backhoe rental plans if you want to save on your excavator rental costs. Mini excavator rental plans could also save you up to 60 percent in rental costs.
Industry Standard Rates
The cost of hiring an excavator varies depending on size, model, accessories, power, and bucket size. In addition, the rental period and your location also determine the cost of hiring an excavator. Many leading industrial equipment rental companies offer daily, weekly, and monthly plans. Your needs should determine the plan you choose.
Daily Plans
The average daily excavator rental cost is between $350 and $1600, depending on the heavy equipment size. Smaller excavator models are cheaper to rent than larger machines like the caterpillar 375.
Weekly Plans
Weekly plans can save you up to 60 percent of excavator rental costs. The average price of weekly excavator rental plans is between $1250 and $5000. Smaller models are relatively cheaper to rent than larger machines. The cost of an excavator rental is determined by the heavy equipment’s size and power. The cost of renting large excavators could go as high as $5000 per week.
Monthly Plans
Monthly rental plans are much cheaper in the long run than weekly or daily excavator rental plans. You could save up to 60 percent of the total excavator rental cost by choosing a monthly plan. The cost of monthly excavator plans ranges between $3000 and $15000. Smaller excavator models are generally cheaper to rent than the larger models. On the other hand, mid-sized excavators’ monthly rental cost may range between $6000 and $7000.
Mini-excavator rental cost is typically lower than the price of other models. The average cost of renting a mini excavator may range between $206 and $625 per day.
Excavator Rental Cost Factors
Excavator Accessories
The more accessories an excavator has, the more expensive it would cost to rent. Accessories enhance the versatility of an excavator. In addition, some excavators are only compatible with specific accessories. You may spend more on your excavator rental if your project requires more than the standard accessories that come with the heavy equipment.
Delivery and Pickup Costs
Some small excavator rental companies charge an additional fee for delivery and pickup. The average cost of excavator pickup and delivery ranges between $175 and $2000. The cost is determined by the distance between the excavator rental company and the client’s job site.
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