Insight on buying a mini excavator vs renting

[Hay Dude]

Ah Ha.....this sounds like it might be a good job for... Peter 315.... here on TBN.
He is also in Cow Hampshire, and appears to know a lot about this stuff.
He is currently on the prowl to "steal" a one owner Kubota L48TLB, somewhat South of you.

Unless I get it first :mischievous:

 

[Complete Turf Care]

Here is my story.

About 5 years ago, I bought a 2004 Bobcat 322 mini ex with about 1700 hours on the meter for $8700. Since then, I have spent around $10,000 in repairs, including replacing the engine (with a used engine from Ebay). In the 5 years I have put about 150 hours on it.

I have often thought about selling or trading this one to upgrade, but I'm afraid I will just end up with another lemon.

One of the main reasons I bought was because every time I went to rent, I had to drive 20 miles to get a machine, and sometimes the rental place did not have one available.

I use my machine for business use. I do landscaping and irrigation, and this size machine is perfect for my needs. It's a 3500 lb machine.

I can't say if you should rent or buy, but for me, I'm glad I have my machine available when I need it at a moments notice. I just don't like the fact that I have about $20,000 invested in a machine that I would be lucky to get $10,000 for today.

Anyway, good luck with whatever you decide. Sorry if I'm no help.

 

[CobyRupert]

if you'd have invested $10,000 in the S&P 500 in 1985, 33 years later it was worth $150,834.

So.....in 1985, $10,000 would pay for about 4 years of college, but if invested in the market, 33 years later it would pay for about 4 years of college. (Give it take).

Sort of like if OP buys a excavator now, in a few years it will still be an excavator.

 

[fried1765]

So.....in 1985, $10,000 would pay for about 4 years of college, but if invested in the market, 33 years later it would pay for about 4 years of college. (Give it take).

Sort of like if OP buys a excavator now, in a few years it will still be an excavator.

Excellent point!

 

[MossRoad]

So.....in 1985, $10,000 would pay for about 4 years of college, but if invested in the market, 33 years later it would pay for about 4 years of college. (Give it take).

Sort of like if OP buys a excavator now, in a few years it will still be an excavator.

Your numbers are way off... Average tuition room and board in 1985 was $9980 per year.
Average undergraduate tuition and fees and room and board rates charged for full-time students in degree-granting postsecondary institutions, by level and control of institution: 1963-64 through 2012-13

 

[MossRoad]

Excellent point!

His numbers were off by 400%.
Average undergraduate tuition and fees and room and board rates charged for full-time students in degree-granting postsecondary institutions, by level and control of institution: 1963-64 through 2012-13

 

[Muhammad]

The more I read your comments the more I think you really want to buy one. Get the best machine for your budget and don't think about selling it unless you no longer have a use for it.

Personally I love mini excavators and that 8k size is just right. Get a thumb for it though, they are incredibly useful.

Now, if you do succumb to the sensibility of MossRoad's suggestion, I think $2k for a one week rental is a bit steep. I recently rented a track loader and got the price down by 30%. Most rental yards have a ton of equipment sitting around so just ask them what machine they can make you a deal on. Or shop around for the best rental rates and then ask others to beat it... that's what I did.

 

[Woody65]

I had the same decision to make about 5yrs ago. I rented a machine a few times and rushed to get the job done. Also, had to work around the weather. Finally bit the bullet and purchased an 8k machine to do a few projects. I still have it and have used it for many other uses that I originally never thought of using it for. In the end it has been well worth the price and has saved me more money than it cost. And, when I look at current prices for my machine, I can sell it for about the same as the purchase price. Which was 15k 5yrs ago.

 

[fried1765]

The more I read your comments the more I think you really want to buy one. Get the best machine for your budget and don't think about selling it unless you no longer have a use for it.

Personally I love mini excavators and that 8k size is just right. Get a thumb for it though, they are incredibly useful.

Now, if you do succumb to the sensibility of MossRoad's suggestion, I think $2k for a one week rental is a bit steep. I recently rented a track loader and got the price down by 30%. Most rental yards have a ton of equipment sitting around so just ask them what machine they can make you a deal on. Or shop around for the best rental rates and then ask others to beat it... that's what I did.

Your first sentence absolutely says it ALL !!!

 

[Seven Gables]

Any chance you could post some pictures of the machine your looking at? So far unless I've missed something it's a 08 case about 8000lb with 890hrs . So I'm guessing it's either a cx31 or cx36. Do you know any history of the machine? Is for sale from a dealers lot or an individual ? I'd run it for awhile and put it thru its paces . Try the best you can to determine if the hours are correct , if they are correct that machine should have a lot of trouble free life left in it. It's actually a Kobelco which in my opinion are a pretty darn good machine. Look at the hyd oil real close , is it nice and clean ? Can you get the seller to move on his price any? Even at 20k if the hours are correct and it doesn't look to have any issues I think I'd be a buyer. While you own it keep doing a little TLC to it and best of all worlds sell it for a little more than you paid.