If the rented equipment breaks, it is insured and you can be completely relaxed. Especially when sharing a device that has been jointly purchased, trouble is guaranteed if an expensive repair is needed. Should everyone pay in equal shares, even though they have used it differently, or should only the one pay whose equipment broke?
I have also already looked at used wheel loaders; the affordable offers have no tread left, hydraulic fluid is leaking everywhere, etc. Unfortunately, it is not worth it at all.