Tips to Calculate a Compact Excavator’s Total Cost of Ownership

Although compact excavators are less expensive than their standard-sized counterparts, they come with different price tags. This makes it crucial to understand the total cost of ownership 

Before finalizing your decision. We often recommend prospective buyers evaluate expenses, such as maintenance, fuel consumption, insurance, and depreciation of compact excavators, to make a realistic estimation. Let’s explore a few strategies to anticipate the ownership costs before making any long-term financial commitments!

Initial Purchase and Financing

The first step in acquiring a mini excavator involves deciding on the purchase method. Options include outright buying and financing through loans and leases. While buying means full ownership from day one, financing can ease upfront costs. It's important to explore different options to uncover the most suitable arrangement.

Maintenance and Repairs

Routine maintenance is vital for extending the lifespan of an excavator and reducing unexpected repair costs. Regular checks and timely servicing can prevent minor issues from becoming major problems. That’s why you’ll want to factor in the price of genuine replacement parts and skilled labor for repairs as part of the total ownership expenses.

Fuel Consumption

Fuel efficiency impacts operating costs over time. Different models vary in their fuel consumption rates based on factors such as engine design and operational workload. Estimating expected fuel usage helps in budgeting for this ongoing expense.

Insurance and Other Costs

Furthermore, you’ll want to consider the cost of insurance premiums when assessing full ownership costs. Policies can protect against accidents or theft and provide peace of mind. Additional expenses might include property taxes or storage fees if applicable in your area.

We hope this blog post helps you anticipate the total cost of ownership of compact excavators. If you need more information or want to peruse our fine selection of compact excavators, contact Cascade Trader Inc. We are in Chehalis, WA, and Hayden, ID, and proudly serve Olympia. Stop by today—we can’t wait to serve you!