If you’re thinking about investing in a mini excavator, one of the first decisions you’ll need to make is whether to buy new or used.
Mini excavators have quickly become a must-have piece of machinery in the construction industry.
They offer the same level of performance as their larger counterparts, but on a smaller scale and with added benefits.
The biggest advantage of the mini excavator is its compact size, which allows for excellent manoeuvrability, even in tight spaces. Generally, they are also more affordable, fuel efficient, and easier to operate than wheeled, tracked or truck-mounted excavators.
New or used?
When buying a mini excavator, you may be able to save a significant amount off the initial price by buying used. This will also help you to avoid the cost of the vehicle’s initial depreciation, which can be as much as 20 to 40% in the first 12 months.
If you do decide that buying used is the right route for your business, then it’s important to do your research and know exactly what to look for when shopping for a used mini excavator to ensure that you’re getting a good deal.
What to look for in a used mini excavator
Before investing in a used mini excavator you’ll want to ensure that the machine has been well cared for, maintained, and still has plenty of life left in it.
Bear in mind that mini excavators generally have a maximum of about 10,000 hours of usage in them, and that’s only if they’ve been well maintained and not run into the ground.
Most experts will advise you to only buy a used mini excavator with fewer than 2,000 hours on the clock to ensure that you get your money’s worth from it.
A thorough inspection should be carried out on the mini excavator to check for signs of leaks, rust, excessive wear, dents, and repair welds, all of which could signal that there are problems with the vehicle.
If you require help or advice with financing a mini excavator for your business, speak to our team here at Richmond Asset Finance. We provide a range of flexible vehicle finance and asset finance services to help you to grow your business. To discuss your requirements in more detail, give our team a call on 0113 288 3277.