According to the marketing manager of John Deere, manufacturers in North America sell mini excavators 80% of the time and rent them 20% of the time. This makes sense as mini excavators are versatile machinery used for different projects.
Compact excavators are becoming popular in the construction industry because they are used for digging, trenching, landscaping, demolition, and other projects. People can use this machinery to earn money from it too, that’s why a lot of people go to buy a mini excavator.
But, how do you decide whether you want to buy or rent a mini excavator? You may have this question in mind, so let’s explore the answer.
Buy or Rent a Mini Excavator?
In deciding on buying vs renting a mini excavator, you have to consider a lot of elements. These both have their pros and cons and depend on individual needs.
The Size of the Project:
The size of your project is the main element of either buying a mini excavator or renting a mini excavator.
If your project size is small, you should rent a mini excavator. If you are going to start a new niche in your business and it needs mini diggers, you should rent the machinery initially. If you will be confident that you want to pursue this niche, then you should buy a mini excavator.
If you already own some Chinese diggers who are busy with other projects, you can rent a mini excavator for an additional job that has come up during that time frame.
If your project is long and demands months to complete, then it is a wise decision to buy a mini excavator.
Financial Situation:
Your financial situation also matters in buying a mini excavator. If you have extra money to invest, buying a mini excavator is the best option. You can turn this machinery into a side hustle too which will generate a pretty amount of revenue for you.
But if you are tight on the budget, you can go for renting a mini excavator for your job. It will save you in investing a bulk of the money at the same time, and also helps you in avoiding maintenance prices.
Some individuals make wise decisions by going toward monthly rental payments. You can also go for it after estimating rental payment for the period of use.
Also, you can buy a used mini excavator for sale near your area. These mini excavators are half the price of the new ones. And if you buy them from a well-known manufacturer, you can get a warranty too.
Your Credit Score:
Your credit score also matters as it makes the lender feel confident that you can pay them.
If you have a good credit score, you will be able to get a loan with a low-interest rate to buy a mini excavator.
But, if your credit score is not sufficient enough, you may not get the rent or get it at a high-interest rate. In this case, it will be a wise decision to go for renting a mini excavator.
Unsure about a Machinery:
If you are unsure or skeptical about Machinery or don’t know which one will be better for your job, you should go for renting a mini excavator. In this way, you will be able to check the productivity of machinery and can get an idea of whether this machinery is better for your job or not.
There was a time when people were skeptical about the productivity of tracked machines. But, when they started renting it for a weekend, season, or month, they realized the productivity of it, so they started buying it.
You can also try different machinery to know which will suit your job site, and then go for renting it.
Type of Jobsite:
Types of job sites also matter in deciding whether it is wise to buy a mini excavator or rent a mini excavator.
If your location is remote, you should rent a mini excavator. Renting a compact excavator will save you from the pain of transporting equipment to and from the distant job site. The local dealer will do the transportation work for you so you don’t have to worry much about it.
If you are in a populated location, it is best to buy a mini excavator. In this way, you can easily work on different projects without any difficulty.
Job Type:
Your job type also plays an important role in deciding whether you want to buy a mini excavator or rent it.
If your job type keeps changing and you need different sizes of machinery for your job, then you shouldn’t buy a compact excavator.
On the other hand, if your job type doesn’t change, then you should go for buying a Chinese digger.
Availability:
This is the crucial aspect that can drive you to buy a mini excavator. If you own a Chinese digger, it will be easily available to you in your time of need.
If your business type or schedule demands you to make last-minute changes in schedule and go for an emergency project, then you should have a mini digger. Because, maybe in a time of need, rental doesn’t have the mini digger of your choice.
But, if your business is seasonal or doesn’t demand you to be always available for construction work, then renting a mini excavator now and then is a great option.
These are some aspects that you should take care of while buying or renting a mini excavator. Now, let’s see the benefits of buying and renting a mini excavator.
Benefits of Buying a Mini Excavator:
If you are still unsure of whether you should buy a mini excavator or not, these benefits will help you in making the decision.
Start a Side hustle:
You can use this machine to earn a side hustle. Due to its versatile nature, you can use it in different side businesses and can earn a decent side income from it.
Use it in emergencies:
In case of disasters, you can use your mini digger. For example, if it has snowed heavily, you can clear the snow with a mini digger. Or, if the trees have fallen due to strong wind flow, you can clear them through a mini digger.
Easily Available:
If you own your mini digger, it will be easily available to you if you have to fulfill an immediate task. You don’t need to worry about finding the right mini excavator for your emergency job as it will already be available to you.
Latest Technology:
New mini excavators have the latest technology that can meet your needs. With the evolution of technology, mini excavator manufacturers keep introducing new models and technologies.
So, you can own the latest mini excavator if you go to buy a new one. If you go to buy a used mini excavator, the technology will not be the latest one. Or, if you are going to rent a mini excavator, there are chances that the mini excavator rental doesn’t have the latest machinery available at that time.
Buying is cost-effective:
If you have to rent a mini excavator frequently, then it will cost you much more than buying it. Even if you don’t need a mini excavator much of the time in a year, you can rent it to others and earn a handsome amount of money from it.
These aspects make this machinery cost-effective.
If you want to buy a mini excavator, Hixen can be the best option for you. They provide the latest technology mini excavators with pre-sale, in-sale, and after-sale services. This makes their mini excavators cost-effective.
Benefits of Renting a Mini Excavator:
Let’s see what are the benefits of renting a mini excavator.
No need for Maintenance and Transportation charges:
Renting a mini excavator will save you from maintenance and transportation charges. Mini excavator rentals will take care of maintenance charges and will transport the machinery on and off your remote job site.
No need to worry about storage space:
If you don’t have a dedicated storage space, buying a mini excavator can be an unwise decision for you.
In renting a compact excavator, you can only have it at the time of a project. After it, you will give it to your rental who will store the machinery in a proper place.
Have access to all types of machinery:
In renting, you have multiple options available. You can rent a backhoe, wheeled excavator, zero tail mini excavator, or a midi excavator for your job. In this way, you can use different machinery according to your project needs.
Save your money:
If you need mini excavators occasionally or if you have a tight budget, then there is no need to invest in this heavy machinery. You can save your money by renting it for as long as you want.
Wrap Up:
In short, buying or renting a compact excavator depends on your personal choice and situation. You have seen in which conditions you should buy or rent a mini excavator and what are the benefits of both aspects, so take the decision wisely.
If you want to buy a mini excavator or want more information regarding it, do contact us. We will be more than glad to assist you.
