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Posted by: Samuel Hirshfield on August 31, 2013
Have you ever considered buying a backhoe when it seems like you’re having to rent one all the time? While this appears to be a plausible solution, there are some drawbacks.
If there are no Compact Power Equipment Rentals in your area, then owning your own equipment can be a real advantage when compared to driving 100 miles to rent it. You will save time and money by choosing to purchase and maintain the equipment yourself.
Mini Skid Steer
Purchase Price: $20,000+
What do you do with your equipment when it’s not being used for the job? Leave it on site? Leave it on the trailer in the driveway and hope the HOA doesn't throw a fit? Secure storage becomes a priority when you own your own equipment. Less than 20% of stolen heavy equipment is recovered, compared to 57% of automobiles recovered.
If your work involves using a specific piece of heavy equipment on every job, then purchasing that particular machine may be a good investment for you. Things to take into consideration are upkeep and storage costs, however.
Tractor Loader Backhoe
Purchase Price: $25,000+
It is unlikely that you will save money by buying a backhoe for conventional contractor work. Even if you plan on operating your equipment every day of the week, it seems that the cost of buying and maintaining a machine will outweigh the cost of the occasional to frequent rental (plus you can get a discount for frequent rentals). Between the expense of insuring your equipment, maintenance costs, repairs, and storage fees, you’re looking at coming out of this deal with the short end of the stick.
If you have enjoyed this post you will definitely love our latest ebook, "7 Privacy Ideas for an Outdoor Sanctuary." And please leave any comments below!
* Pricing subject to change at certain locations.
The documentation within this section provides general safety information and operating instructions by equipment type. Specific controls, functionality and operating instructions can vary by brand, model and year. It is up to you, the operator, to ensure your own safety. This documentation is secondary to the manufacturer’s instructions provided to you within the operations manual located on each machine. If an operations manual is not available on the machine, please contact our 24/7 Customer Care Center at 1-888-COMPACT. The manuals can also be viewed and downloaded from our website at the following address http://compactpowerrents.com/Safety/.
Product specifications and prices are subject to change without notice or obligation. The photographs and/or drawings in this document are for illustrative purposes only. Refer to the appropriate Operator’s Manual for instructions on the proper use of this equipment. Failure to follow the appropriate Operator's Manual when using our equipment or to otherwise act irresponsibly may result in serious injury or death.