Heavy Equipment Purchase

Quote:

Originally Posted by PistoneScrapProcessing

Gus and everyone else thanks for the advice. I am well aware of oil sample analysis on the drives, pumps and motor. I am not going to be making payments on this I am outright buying it. Slave and save my cash paid for it. The good thing about working for a scrap yard is you don't need a bank either. I have already pretty much priced out the expensive parts. The machine has 8300 hours on it and spent its life digging sewer lines in residential neighbor hoods. The main parts are 5 grand for the final drive, 7 for the pump and 12 for the motor. The excavator will pay for itself in about a month because I will be able to work my guys like Egyptian slaves building scrap pyramids. No more downtime. I have so much work right now I can't keep up this is the reason I finally said I gotta buy a machine and buy it right now. I just have to have all the parts and attachments that I want to buy for it onsite when the machine shows up so I can get it installed and get it up and making money.

The information I gave was intended for all, who know one of our forum members may become the next Simon and Sons and have a need to purchase heavy equipment which is a big investment. Hate to see someone jump from a window should his investment turn sour.

As you know I'm retired just putting in time, I have no interest in wither your purchase is paid for in cash or with a loan. if I were going to invest in a quarter million dollar machine I would go with the banks money and put mine to better use earning me more income. You could write the loan off over so many years.

You really need a good book keeper to survive in this business it's not all about making money but rather how to manage money.

I have to mention, if you have the time to shop at auction you will find incredible prices on equipment and attachments.

You would think that there would be a few repo'ed machines sitting around just waiting on a buyer, cheap

I'd call the manufacturer. Either labounty or the digger builder. Labounty would be my first call, because if they build them they probably know how to mount them.

Sounds like fun. Share some pics please.