Strategies To Help Save Money On Heavy Equipment Rentals

Posted on: 6 August 2020

Renting heavy equipment is often the most affordable way to get forklifts, skid steers, scissor lifts, excavators, and backhoes. Even when renting these pieces of equipment, however, the rental costs can be significant. If you need to rent heavy equipment, here are some strategies to help you save money on the heavy equipment rental.

Rent the Smallest Equipment That's Suitable for the Job

No matter what type of heavy equipment you're renting, you'll likely find that the equipment comes in several different sizes. There are small forklifts, medium forklifts, and large forklifts, for example. Don't get an overly large one, but instead opt for the smallest equipment that's still capable of whatever job you need to do.

This step alone can result in significant savings, for the difference in rental price between a small and a medium piece of equipment (or a medium and a large one) is sometimes substantial. By getting the smaller one, you'll save the difference every day that you have the equipment.

As an example, consider the different costs of renting a skid steer:

  • Skid steers with capacities between 250 and 750 pounds rent for $150 to $200 per day
  • Skid steers with capacities between 1,501 and 1,750 pounds rent for $250 to $300 per day
  • Skid steers with capacities of 1,751 and 2,750 pounds rent for $260 to $310 per day

If you opt for the smallest model rather than the medium one, you could save $100 each day that you're using the skid steer. Over even a short project that takes only two days, that's a $200 savings — which equates to a 50-percent savings if you're spending $400 on the entire rental.

Negotiate Extended Rental Fees Caused by Weather

Anytime you're using heavy equipment outdoors, you must prepare for what to do if inclement weather hits. In most cases, heavy equipment rentals can be easily extended if work is delayed due to rain, wind, lightning, hail, snow, or other elements. You'll have to pay for this extended time, however.

While you must pay for however many days you have the rented heavy equipment, don't assume that you must pay the full daily rate for it. This aspect of a rental contract is negotiable, and you may be able to get a rate that's lower than your daily rate for any extension that's due to weather.

The best way to start these negotiations is to simply ask for a discounted rate on any extensions that are due to weather. Be sure to point toward any rain or snow that's in the upcoming weather forecast and explain your concerns. Most heavy equipment rental companies understand this concern and will work with you to find a suitable solution.

Get Equipment Form a Local Heavy Equipment Rental Facility

The company that you decide to rent the heavy equipment from should be local and have a location close to your job site. Renting from a local company will reduce how far you have to transport the equipment, and this can have a surprising effect on how much you save.

First, you won't need to use as much fuel to tow the equipment to and from your job site. Many trucks that can tow heavy equipment have low fuel efficiency ratings, and those ratings drop even further when towing. Thus, you can expect to use a lot of fuel even when towing equipment just a little way. Any amount you can reduce the distance will lower your fuel costs.

Second, you also won't have to spend as much time towing the equipment to your job site. This can reduce how much time you need to rent the equipment for, which can lower the actual rental bill.