To Buy or to Rent?

   / To Buy or to Rent? #1  

Little Red Tractor

Gold Member
Joined
Apr 8, 2012
Messages
419
Location
Gloversville NY
Tractor
Kubota 2301
I have often advocated for counting the cost of a purchase over rental price. I had given consideration to buying the backhoe attachement for my B2301, roughly $6500 when I bought the tractor. Common sense, and my own advice, prevented me from pulling the trigger on it (even though my wife made the suggestion!!!!:love:).

After a large reainstorm, I had the need to dig up a plugged dreain. My tractor could barely move on the water-soaked ground and if I'd had the attached hoe, it would have been nearly useless. I rented a Yanmar small Yanmar for 2 days--to do a few other jobs as well, and it was about $700. When the ground dries up around here--likely in August--I'll probably do it again to finish a couple projects. I'll still be money ahead with no worry about storing or maintaining the machine.
 
   / To Buy or to Rent? #2  
Makes sense to me. I think lots of tractor or just 'ground working machines' come close to making no sense if you don't use them all the time and make money with them.. but that's not the only factor.

I can't say i'm doing anything right or anyone should do what i do, but i'm a car nut and own a number of cars.. in the low-ish 2 digits range. Made more sense before i finally had kids. I'll get back around to it. I tend to dabble in the weird stuff noone cares about so none of it is losing value due to neglect, at least! Certainly that makes NO sense from a financial perspective, but the machines and the use and variety and modification of those machines has held my interest and defused a whole lot of restlessness over the years. I can't put a number on the value i've gotten from 'the hobby'.

I'm still pretty new to tractors but I already own 4, or 5 if you count a parts tractor. Or 6 if you count a pos broken skid steer. That doesn't make sense either, but like the cars i tend to buy low (i.e. it's broken) and fix it up, learn all about it, etc and end up with something worth more than the money i put in at least.. and the time is fine as long as im having fun.

But i think one big thing for me is as a mechanic, i tend to run my stuff pretty hard because i can clean up my own messes, view wear/breakdown with professional curiosity and have noone else to answer to about it. I have a lot of fun doing that. I don't drive/operate things i don't own the same way. I've done loads of things with my tractors that i wouldn't have done if they were borrowed, especially if the owner was watching. That has value to me to. I make it all fun, or at least funny.

But yeah, you don't see me buying a mini-x either. When i can get a broken one for $1000, though...
 
   / To Buy or to Rent? #3  
On the other hand with the current rate of inflation used equipment is holding if not increasing in value while also being ready to work whenever you want to. Maybe I’m built differently but I’d rather buy a piece of equipment and still have something to show for when I’m done vs renting. On the times I need a tool where purchasing is totally out of the question I can usually pay someone to do the job for the same money as renting. Example, I needed to bust up a concrete slab. A rock hammer for my mini x is like 10 grand. Renting is probably $250 just for the head and it’s not likely I’d be able to rent one that fits my machine anyway. I paid a guy to hammer it and also provided 2 laborers to assist with loading for $350.
 
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   / To Buy or to Rent? #4  
If you don't want the worries...maintaining,cost etc, I would rent and other projects ready for the rental.
 
   / To Buy or to Rent? #5  
For me it was better to buy a mini. I priced it out to rent and for what I had to do, it would be around 4grand in rental fees.

Found a 2013 bobcat 324 for 13 grand next town over. Real clean, ran great and 1400 hours.

I was a heavy equipment mechanic for 24 years so that helps. In the last 2 years we had it, it has performed beautifully. I use the hell out of it and I feel I got my monies worth out of it. Especially when I added a thumb.

If it's an oddball thing, I'll rent or hire.
 
   / To Buy or to Rent? #6  
On the other hand with the current rate of inflation used equipment is holding if not increasing in value while also being ready to work whenever you want to. Maybe I’m built differently but I’d rather buy a piece of equipment and still have something to show for when I’m done vs renting. On the times I need a tool where purchasing is totally out of the question I can usually pay someone to do the job for the same money as renting. Example, I needed to bust up a concrete slab. A rock hammer for my mini x is like 10 grand. Renting is probably $250 just for the head and it’s not likely I’d be able to rent one that fits my machine anyway. I paid a guy to hammer it and also provided 2 laborers to assist with loading for $350.
I bid a lot of money for a tractor with 7k hrs on it and no transmission today and am not the high bidder right now…it’s going to go crazy high I think as it’s just barely pre diesel crap and 140hp
 
   / To Buy or to Rent? #8  
It all boils down to how often you need to use a piece of equipment. I rent many things that make no sense to own (trencher, lawn dethatcher, etc…) because I only need them for a specific project. My tractor is used often, especially the blade, loader, and rotary cutter, so I own them.
 
   / To Buy or to Rent? #9  
My backhoe cost me $8200 but it sure has saved
me a lot ot time and back ache. For all the work I
have done with the backhoe it has paid for its self.
Renting a backhoe if they have one available and
its a 30 mile trip to get it then maybe almost always
have to wait to do the paper work then when your
finished you have another 30 mile trip and the time
it takes for all this to me is not worth the hassle When
I want to use it just attach it and go never have to wait
or take a trip to get one to rent and if I want to can
always sell don't believe I will lose any money as prices
keep going up sad to say! Also in my case I have to
take care of my wife and cook so for me renting is not
an option

willy
 
   / To Buy or to Rent?
  • Thread Starter
#10  
Makes sense to me. I think lots of tractor or just 'ground working machines' come close to making no sense if you don't use them all the time and make money with them.. but that's not the only factor.

I can't say i'm doing anything right or anyone should do what i do, but i'm a car nut and own a number of cars.. in the low-ish 2 digits range. Made more sense before i finally had kids. I'll get back around to it. I tend to dabble in the weird stuff noone cares about so none of it is losing value due to neglect, at least! Certainly that makes NO sense from a financial perspective, but the machines and the use and variety and modification of those machines has held my interest and defused a whole lot of restlessness over the years. I can't put a number on the value i've gotten from 'the hobby'.

I'm still pretty new to tractors but I already own 4, or 5 if you count a parts tractor. Or 6 if you count a pos broken skid steer. That doesn't make sense either, but like the cars i tend to buy low (i.e. it's broken) and fix it up, learn all about it, etc and end up with something worth more than the money i put in at least.. and the time is fine as long as im having fun.

But i think one big thing for me is as a mechanic, i tend to run my stuff pretty hard because i can clean up my own messes, view wear/breakdown with professional curiosity and have noone else to answer to about it. I have a lot of fun doing that. I don't drive/operate things i don't own the same way. I've done loads of things with my tractors that i wouldn't have done if they were borrowed, especially if the owner was watching. That has value to me to. I make it all fun, or at least funny.

But yeah, you don't see me buying a mini-x either. When i can get a broken one for $1000, though...
If you find a second mini for a grand, call me and I'll come get it!
 
 
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