At what point do you purchase?

Discussion in 'Heavy Equipment & Pavement' started by iowa, Jul 4, 2007.

  1. iowa

    iowa LawnSite Senior Member
    from NW IA
    Posts: 305

    Currently, I am renting a LS 170 skid to do my landscaping jobs, ect. Usually I have it for 2-3 days and its costing me 600 or so. This past month the bill from the rental shop was close to $1000. Would it be justifiable to buy a skid loader at this point in time or do I wait longer and keep dishing that amount out or even more to the rental place? If I were to get one I would either be stuck between a newer LS170 or a little bit older LS180 with the two speed, I would like to find a decent one under 20k.

    Thanks
     
  2. RockSet N' Grade

    RockSet N' Grade LawnSite Silver Member
    Posts: 2,454

    Iowa......I just recently bought a fully loaded machine ( cab, heat/air, stereo, pilot control, ride control, all the extras that you could possibly have - I got) for $38,000. My payments are $750 a month. I get tax advantage by owning. I save time by having it here when I need it instead of running to the rental yard and wasting precious time. Sounds to me like it would be in your best interest to seriously consider purchase since you are already making the payments in rental. Then again, I do not know your full story, but from what you wrote, I would say...yes.
     
  3. Fieldman12

    Fieldman12 LawnSite Bronze Member
    Posts: 1,504

    I would say that you are more than ready to buy. When I was looking I almost bought a new machine. I kept looking and found a used one that was in very well kept condition for just a little under $14,000.00 and they even swaped the regular bucket for a new low profile bucket. I put down like $7,000.00 or a tad more. My payments are $185.00 a month and Im getting ready soon to go ahead and pay it off. I think it's way easier to own especially in my situation. It has easily made back over $3,000.00 of my money around the farms and I have not really run it that much. That is one thing I like about the machine each time it starts up it is either saving me money I would have had to spend to have someone do it or it is making me money.
     
  4. Fieldman12

    Fieldman12 LawnSite Bronze Member
    Posts: 1,504

    I would not get too wrapped up in a fancy machine especially for your first machine. You can save that money to buy attachements, other pieces of equipment, pay other bills, save, or future repairs. My goal is to be as debt free as possible and when I do go out to do a job it pays decent. If your in debt to your eyes on a machine you have to take pretty much any job that comes at ya and you may not get the money ya want, plus if it gets slow look out.
     
  5. tthomass

    tthomass LawnSite Gold Member
    from N. VA
    Posts: 3,497

    Check ebay and equipment trader or machinery trader etc for make model and pricing to get a feel for what machine with what hours etc costs.

    I did and two weeks after looking I had a T190 in the back of my truck + goodies. Now, I was not planning to buy until this fall. After looking on these sites I got a sense of what costs what. I then, through a friend, ran into a heck of a deal and knew it. By educating myself I knew this was the oportunity and if I had waited till fall I would lose money due to costing more for the same setup.

    Now if you're spending like you are, yes I would certainly buy. Weigh your options as to what machine and possible a track machine. Build the bank and buy when you know you've got just the one you've been looking for. If you settle for the sake of buying you may lose the oportunity for the right machine at the right time.

    Don't forget you'll need a trailer. I was opting for a dump trailer so that it could serve double duty vs just an equipment hauler. Luckily the deal I ran across had the same thing in mind!
     
  6. Fieldman12

    Fieldman12 LawnSite Bronze Member
    Posts: 1,504

    Speaking of dump trailers what does a new one cost and what would a used one say four or five years old cost? I know a dump truck is way better but for just smaller jobs and every once in a while use I think it could be okay.
     
  7. Fieldman12

    Fieldman12 LawnSite Bronze Member
    Posts: 1,504

    Like Thomas said price them and look around. I got mine about $4,000.00 under the price of most of them around here at the time for that size and brand.
     
  8. cat2

    cat2 LawnSite Senior Member
    from Mi
    Posts: 891

    Yea it is time for you to get your own skid steer. So you don't have to worry about not having one its always there and if you figure out the money you're going to spend renting them you won't belive it. Is New Holland the only one you want? Because I think John deere is a little cheaper. (I think just what I hear) John deere will lift just as much, the same or a little more reach, just as much power. I paid 22,000 for my 317. I would ONLY buy new, because I would never be without that warrany. this is just what I think you do what is best for you:)
     
  9. RockSet N' Grade

    RockSet N' Grade LawnSite Silver Member
    Posts: 2,454

    Iowa......all the above posts have merit. Cat2 has a solid point on warranty.......I got the extended warranty bumper to bumper......I even worked out a verbal agreement that should my machine break down, they will deliever one to my work site at an extremely reduced rental rate. I "overbought" with all the goodies, but that is my style, I have the work to support it, and I want as many creature comforts as I can get. Read all the previous posts on skids ( there are a gazillion of them on here) and it will help you sort through the process. An extremely important consideration that has been discussed at length is quality of service from your dealer........it is a very important item to weigh into the equation........that is a whole nother topic.....but if you are spending $500-$1000 a month in rentals it is high time to start the education process on machines and consider a purchase........in fact, there are rent to buy options available that are available so your rental money just doesn't go down the proverbial drain........go talk with a dealer and bend their ear and find out some info.........best of luck to ya.
     
  10. iowa

    iowa LawnSite Senior Member
    from NW IA
    Posts: 305

    Thanks guys-
    As far as getting the machine - I would like a a nicer, newer machine to start out with. The older you get, I feel the more likely you are to have something go wrong, which is why I would like to have a decently newer machine to start out with that I know the background of where it came from, service record, ect.
    The two dealers I am looking at seem like they have a great service department and some really great people overall.

    Another question- what size of snow bucket can I get for a S185/L170? As of now I am thinking either of those, I am going to have to sacrifice the 2 speed option of the bigger units for now and have to drive from driveway to driveway slowly....
     

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