Insight on buying a mini excavator vs renting

[gtbensley]

An 8000 lbs trackhoe can do alot of work, slower than a bigger machine but it will still get it done. $20 K for a what sounds like basic machine in good shape with some years and hours on it doesn't sound bad.

It should be plenty big to do what I need. Honestly much bigger and it won't work well for the septic install.

I would be probably 5-7k to rent to do all the projects I need one for. Having said that, if I own one it would probably get used for many other things as well.

Sounds like you need to build a barn!

 

[gtbensley]

I wanted a HVAC cab unit about 10-12,000lb range. Cant touch a clean used one for under $30,000.

Yeah those get expensive quick. This is open station which is okay...accept maybe for resale.

8 or 9k weight is as heavy as I want. Need to be able to tow it on my 12k gvw trailer and 2500hd 6.0 gas.

 

[Hay Dude]

Good boy you are,.... keeping your toys out of the weather.
You mother must be proud of you!
My mother taught me that,....and here I am at 80, still doing the same!

When they sell you equipment that looks like it was painted with $11/gallon paint, applied with a $2 brush over rust haze outside, in freezing weather......you know it wont hold up long outside!

 

[Muhammad]

Buy it and hire yourself out a few days a year to pay for depreciation. Excavator with operator is worth at least $600/day in any market, maybe more ($800-1000 around here).

 

[gtbensley]

Buy it and hire yourself out a few days a year to pay for depreciation. Excavator with operator is worth at least $600/day in any market, maybe more ($800-1000 around here).

Also something I have considered. Not sure I want to base buying one off it but s good plus to owning one for sure.

 

[workinonit]

Having just sold my track hoe (albeit much larger than the one you are looking at) I would buy a extended boom backhoe. Much more versatile piece of equipment and much easier to get your money back out of. Those baby track hoes tend to do well on the market but you can end up taking a bath on one.

 

[MossRoad]

Buy it and hire yourself out a few days a year to pay for depreciation. Excavator with operator is worth at least $600/day in any market, maybe more ($800-1000 around here).

Don't forget the costs associated with transporting it between jobs.

 

[CobyRupert]

Advantage of buying it is you get to use it on your schedule, the days you pick, aren’t forced to operate 16 hour days so rent charges don’t multiply, aren’t effected by rain delays, surprises, life, etc..
That alone is worth a big portion of any depreciation/maintenance that exceeds the $2k - $5k you’d spend anyways.
Downside is you assume risk of major maintenance/repair costs or can’t get money back out of it.
Spending $20,000 isn’t spending if you still have the money in the form of an excavator versus computer bits in a bank’s computer server. But renting?: $ poof!

 

[gtbensley]

Having just sold my track hoe (albeit much larger than the one you are looking at) I would buy a extended boom backhoe. Much more versatile piece of equipment and much easier to get your money back out of. Those baby track hoes tend to do well on the market but you can end up taking a bath on one.

Problem is moving it around, and I'm not sure I can fit it in the area to put my septic in with.

My impression was the opposite, I see all sorts of haggard out backhoes for cheap money...haven't seen any cheap minis unless they are missing half the machine and from the 80's.

Bottom of the bucket seems to be mid teen.

 

[Hay Dude]

Don't forget the costs associated with transporting it between jobs.

Yep.
First its the excavator, then its the truck and the trailer, then its the garage for all of it, then its the insurance for all of it.
I already have 2 trucks and 2 trailers to haul it.....
I just dont want it sitting outside in our lousy mid Atlantic weather.
I would be using it for myself and customers, thats not even an issue. With minimal website advertising and word of mouth, I can easily cover expenses.
Its the storage issue for me.