If you're in the market for a skid steer, you may be wondering if it's more cost-effective to rent or purchase one. While renting a skid steer may seem like a convenient option, it can end up costing you more money in the long run. In this blog post, we'll explore why purchasing a used skid steer is a more cost-effective option than renting one.
- Rental Costs Can Add Up Quickly: Renting a skid steer can be a good short-term solution, but the costs can quickly add up if you need it for an extended period of time. Rental fees can range from a few hundred to a few thousand dollars per day, depending on the model and location. (In the United States, the average daily cost to rent a skid steer ranges from $150 to $500, depending on the size and type of machine.*) This can add up quickly, especially if you need the skid steer for an extended period of time. If you need the skid steer for several weeks or months, the rental fees can end up being more expensive than purchasing a used one.
- Depreciation: Just like cars, skid steers depreciate in value over time. However, if you purchase a used skid steer, you can avoid the initial depreciation hit that comes with buying a new one. Plus, if you take care of the skid steer and keep it in good condition, you may even be able to resell it for a similar price when you're ready to upgrade or no longer need it.
- Customization: When you purchase a used skid steer, you have the option to customize it to fit your specific needs. This can include adding attachments, such as buckets or forks, to make it more versatile and useful for your business. With a rental skid steer, you may not have the same level of customization options.
- Convenience: Owning a skid steer gives you the convenience of having it available whenever you need it. You won't have to worry about scheduling a rental or returning it on time. This can save you time and hassle in the long run. Overall, purchasing a used skid steer is a more cost-effective option than renting one. While the upfront cost may be higher, it will save you money in the long run by avoiding rental fees, depreciation, and giving you the flexibility to customize and use the skid steer as needed. If you're in the market for a skid steer, consider purchasing a used one instead of renting.
*Sources: https://www.unitedrentals.com/marketplace/equipment/earthmoving/skid-steers https://www.sunbeltrentals.com/equipment/subcat/159/skid-steer-loaders/ https://www.homedepot.com/c/equipment_rental_skidsteer_rental
