Purchasing an excavator is a major financial commitment, so it’s essential to familiarize yourself with the buying process and make a well-informed choice. Below is a general guide to help you navigate buying and financing an excavator:
Should I Buy a New or Used Excavator?
The decision to buy a new or used excavator depends on a variety of factors, including your budget, the purpose of the excavator, the expected usage, and the availability of financing.
If you have a higher budget and require a excavator with the latest technology, a new excavator may be the better option. New excavators often come with warranties and maintenance packages, which can give you peace of mind and ensure that the excavator operates reliably. Additionally, a new excavator can offer the latest safety features and meet the most current industry standards.
However, if your budget is more limited or you don’t need the latest technology, a used excavator could be a more cost-effective option. Used excavators are often significantly cheaper than new excavators, which can save you a lot of money upfront. Additionally, used excavators that have been well-maintained and inspected can still provide reliable and safe operation.
Ultimately, the decision to buy a new or used excavator will depend on your specific needs and circumstances. Before making a decision, you should thoroughly research the options available to you, consult with experts in the field, and weigh the pros and cons of each choice.
Popular Websites to Buy Excavators:
When purchasing an excavator, several websites offer a wide selection of new and used machinery. Here’s a list of some of the most popular websites to buy excavators:
Each of these websites offers different buying options, from direct purchases to auctions, providing flexibility for different needs and budgets. It’s always a good idea to do your research and compare prices and features before making a purchase. Additionally, be sure to check the seller’s reputation and read customer reviews before making a purchase to ensure that you are getting a quality excavator.
Excavator Financing Options:
There are several financing options available for companies looking to purchase an excavator:
When considering financing options for an excavator purchase, it is important to carefully evaluate each option and compare interest rates, repayment terms, and any additional fees or charges. It may also be helpful to consult with a financial advisor or accountant to determine the best financing option for your specific situation.
*This article was originally posted on September 29, 2024 on our main blog page here.
Buying a crane can be a significant investment, so it’s important to understand the process and make an informed decision. Here is a complete guide to buying and financing a crane:
Should I Buy a New or Used Crane?
The decision to buy a new or used crane depends on a variety of factors, including your budget, the purpose of the crane, the expected usage, and the availability of financing.
If you have a higher budget and require a crane with the latest technology, a new crane may be the better option. New cranes often come with warranties and maintenance packages, which can give you peace of mind and ensure that the crane operates reliably. Additionally, a new crane can offer the latest safety features and meet the most current industry standards.
However, if your budget is more limited or you don’t need the latest technology, a used crane could be a more cost-effective option. Used cranes are often significantly cheaper than new cranes, which can save you a lot of money upfront. Additionally, used cranes that have been well-maintained and inspected can still provide reliable and safe operation.
Ultimately, the decision to buy a new or used crane will depend on your specific needs and circumstances. Before making a decision, you should thoroughly research the options available to you, consult with experts in the field, and weigh the pros and cons of each choice.
Popular Websites to Purchase a Crane:
There are several websites where you can purchase a crane. Here are some of the most popular:
It’s always a good idea to do your research and compare prices and features before making a purchase. Additionally, be sure to check the seller’s reputation and read customer reviews before making a purchase to ensure that you are getting a quality crane.
Crane Financing Options:
There are several financing options available for businesses looking to purchase a crane:
When considering financing options for a crane purchase, it is important to carefully evaluate each option and compare interest rates, repayment terms, and any additional fees or charges. It may also be helpful to consult with a financial advisor or accountant to determine the best financing option for your specific situation.
*This article was originally posted on April 20, 2023 on our main blog page here.
As analysts forecast the future for the mining industry, most are in agreement that the outlook is positive and the upward trends from the last two years will continue.
Improving but changing.
Both small mining companies and large corporate giants such as Rio Tinto, Freeport-McMoRan and Anglo-American reported solid earnings , increasing positive profit margins and improved cash flow for FY2018. This is a continuation of the trend we’ve seen over the last couple years where robust macroeconomic fundamentals, large reserves and deregulation under President Trump jump started the mining industry from its previous slump.
Although mining appears to be back, and healthy, the landscape is different than it was just a few decades ago. Now, mining companies are focused on copper, nickel, lead, tin and gold as opposed to traditional materials such as iron and coal; resources that have dipped due to political pressure to move to alternative sources of energy.
President Trump campaigned on the promise to save coal, and his administration has taken action over the past couple years to bring coal back from the dead, and his attempts have helped stabilize the demand for coal. Natural gas continues to increase in demand and be considered the bridge fuel as North America transitions to alternative energy sources. What that means for the coal market remains to be seen.
Mining equipment market experiences simultaneous growth.
The expected growing in the mining industry is also having an effect on the Mining Equipment Market. It wasn’t too long ago that the global mining equipment market size was valued at USD 120.82 billion; however, with analysts anticipating CAGR of 11.7%, the global mining equipment market is expected to jump to USD 284.93 billion by 2025 per Grand View Research.
As the mining industry forges ahead with its recovery, we are seeing companies both large and small position themselves to take advantage of future profits coming their way. Mining companies are purchasing new and used mining equipment and retrofitting their current fleets while they have the cash flow to do so. The recent improvements in the mining space is now attracting more capital and mining equipment finance companies are looking to deploy capital to help facilitate the continued mining industry recovery.
Positive yet cautious.
Although the mining industry in Canada and The United states appears to be trending up, mining companies are still cautious about the potential risks that always threaten their operations. Issues such as tension over water usage from local communities, political unrest that impacts their operations across the globe and the general public’s preference to move toward clean and renewable energy and sustainable business practices. These threats are always present, but if managed, we don’t anticipate they will negatively impact the projected recovery.
Mining in The United States and Canada is back for now.
Even though there are risks the mining industry will need to overcome over the next few years, the overall forecast for the industry looks positive. Improving on a recovery that started a few years ago, the mining industry and the mining equipment market will continue to see significant growth for at least the next year, and most likely experience multiple years of continued success.
*This article was originally posted on our Medium Blog here
on June 1, 2019
Industry analysts have released recent logging equipment numbers—let’s take a look. We are only a few months into 2018, but industry analyst firm EDA has begun to divulge the financing numbers for forestry and logging equipment. They've detailed the most popular equipment types, the top buyers, and the top logging equipment finance companies. Judging by the data, sales of new logging equipment is off to a strong start despite industry concerns over lumber supply.
Here are the numbers for the top lenders and buyers from February :
The Buyers
· BLUE STAR EQT LLC DETROIT, MI 10
·
LOGGING EQUIPMENT BANDIT 5
·
LOGGING EQUIPMENT MORBARK 5
·
TREESMITHS INC SPRING
BROOK TWP, PA 5
·
LOGGING EQUIPMENT ALTEC 5
The Lenders
· JOHN DEERE INDL CREDIT 78
·
CATERPILLAR FIN SVC CORP 46
·
DE LAGE LANDEN FIN SVC 25
·
WELLS FARGO VENDOR FIN SVC LLC 18
·
STEARNS BANK 15
John Deere continues to reign supreme among other lenders in the category with a total of 78 equipment financing deals in the month alone. On the buyer side of the equation, Blue Star purchased double what other buyers in the category bought.
Most Popular Equipment Types
EQUIPMENT TYPE BUYERS UNITS
· LOG LOADER 41,547 89,621
·
SKIDDER 46,872 89,598
·
GRAPPLE SKIDDER 24,636 60,225
·
CHIPPER 36,962 58,767
·
FELLER BUNCHER 18,252 43,563
·
CRAWL#R DOZER (LO 20,806 38,263
·
STUMP CUTTER 23,829 33,041
·
SAWMILL 19,883 25,644
·
WHEEL LDR (LOG) 11,647 23,443
·
EXCAVATOR (LOG) 10,087 23,435
Industry analysts note that felling equipment continues to be the most popular type of logging equipment in the world’s market, while aftermarket parts and specialized attachments, along with extracting equipment follow.
EDA’s industry data finds that log loaders and skidder were virtually tied for units sold in the period they measured. Following these two equipment types was the grapple skidder and chipper.
Reasons for Demand
Freedonia Group predicts that the United States will account for as much as 19% of all global product demand through 2021. What is the reason for this growth? Many industry analysts point to the rise of construction activity in the U.S., roundwood production, and the use of logging methods that require higher-end equipment.
Growth in Other Countries
The Asia/Pacific region is expected to see gains over the next few years along with the United States. Latin America will also see some growth in their lumber equipment purchases, with industry experts noting they could experience 6.5% annual growth on through 2019. In addition, Finland, Poland, New Zealand, and Indonesia are all expected to see above-average gains.
After experiencing impressive gains from 2011 to 2016, Canada is now bracing for a deceleration in market gains. The increased import duties on Canadian exporters doesn't help their growth, and increased prices force them to store more lumber on their side of the border.
Wrapping it Up
What do you expect to happen in the U.S. lumber equipment market this year? If these trends continue, it could be a great year for financiers and buyers alike, however concerns over a supply gap still remain in the forefront. Either way, many are bracing for increased lumber prices by making use of the best equipment they can.
If the U.S. manufacturing sector is doing well, chances are the commercial trucking industry is doing well too. The two industries depend on one another for survival. In fact, over 70% of all U.S. freight moved across the country is in the trailers of commercial trucks .
Because of the renewed demand for U.S. manufactured goods, many companies are promising to bring back jobs to the U.S., leading many analysts to predict the trucking industry to grow by 3.4% in 2018. That being said, there are some concerns facing carriers including new mandates and unexpected competition.
The Most Popular Trucks in 2017
Every year, the industry research firm EDA releases a list of the top ten trucks financed over the previous year. They recently released their list for 2017, and it is as follows:
EQUIPMENT TYPE UNITS BUYERS
· Class 8 Truck 849,681 252,705
· Mechanic 171,994 161,832
· Class 7 Truck 92,711 38,064
· Class 6 Truck 64,438 34,300
· Svc Vehicle Body 9,763 4,989
· Class 5 Truck 1,452 852
· Bus 454 200
· Class 4 Truck 439 303
· Class 3 Truck 167 152
· Class 2 Truck 137 106
Class 8 trucks were by far the most popular option for most carriers because of their reliability, flexibility, and towing capacity. Carriers from across the country were eager to fill their fleets with these vehicles and financiers responded.
Because of this increase in demand, experts estimate that 2018 will see more buyers seeking financing options as carriers continue to build up their fleets. These predictions aren’t misplaced, as December 2017 set records for equipment purchases in both trucks and trailers.
Numbers from December 2017
ACT , a leading industry firm reported that orders for Class 8 trucks in North America rose to a new record 37-month high during the month. As more manufacturers and carriers sought new vehicles to haul their goods and to build up their fleet in response to new demands, carriers broke out their wallets and made huge investments. They bought more than just trucks, however, as trailers saw a boost as well.
Record Sales for Trailers
Research firm FTR reported that along with the rise of truck purchases, trailer orders rose to 47,000 in December. This was the highest purchase record since October of 2014 and shows positive signs for growth in the future.
How Will Carriers Deal with the ELD Mandate?
While driver safety is a top concern for most carriers, the government has issued a new mandate that all commercial trucks be equipped with Electronic Logging Devices (ELDs) in 2018 to limit the time drivers spend behind the wheel. Under the new order, drivers can't exceed 50 hours each week and must take two full days off the rest and recover. The mandate is forcing carriers to reduce the workload of drivers, and many companies fear they won't be able to ship as much as they used to.
Looking Towards the Future
With all of this in consideration, the commercial trucking industry is still expected to be a prominent component of logistics across the country. If carriers can successfully adapt and implement these new devices, they should be able to get their fleet up and running to old levels without much trouble.
Long relying on traditional printed materials, 2018 might be the year the industry enters a new era. The commercial industry as a whole is in flux. Not many are certain where the industry will go in the next ten years with the continuous adoption of new digital technologies. That being said, industry reporting firm Idealliance released their annual report and forecasts for the commercial printing industry. According to their findings, the commercial print industry grew by 1% last year, and Idealliance predicts it will grow by 1.5-3% in 2018 with increased investment in newer printing technologies and emerging economies.
2017 in Review
Along with Idealliance’s reports that the industry grew by 1% last year, reporting agency EDA also updated their yearly report with the numbers of lenders and sellers within the industry.
According to the EDA’s report , the top lenders for new printing equipment were the following companies along with the units they financed:
GENEVA CAPITAL 17
T C F EQT FIN INC 11
HEIDELBERG USA INC 8
BOBST NORTH AMER INC 5
Tied for 5th
C I T BANK 4
KBA NORTH AMERICA 4
PNC EQUIPMENT FINANCE 4
MACDERMID PRINTING SOLUTIONS 4
WELLS FARGO EQUIPMENT FINANCE 4
Of these top lenders, the most prominent, Geneva Capital financed a whopping 18.3% of the total share on its own while all of the companies combined accounted for 65.6% of all financing for the month of November 2017.
These top lenders provided financing options to companies located across the United States specializing in different commercial printing applications:
Marketing Instincts California Epson 4
School of Visual Arts New York Epson 3
GameTime Wraps Arkansas HP 3
RR Donnelley & Sons Delaware KBA 3
Quality Printing Massachusetts Ploar 2
Most of these names are instantly recognizable as long-standing titans of the printer tech industry. However, for the commercial printing industry to move forward, it must be able to adapt to the changing technology and needs of the world.
More 3D Printing Investment
To keep up with accelerating technological advancements, the commercial printing industry is starting to shift towards more 3D printing applications using advanced printing equipment. Industry reporting agency IDC estimates that the 3D printing sector will spend nearly $12 billion in 2018 into the Discrete Manufacturing of distinct items like automotive parts and toys.
In addition to Discrete Manufacturing, healthcare-focused printing processes such as bioprinting and regenerative medicine technologies are expected to see significant investment in 2018. These two sectors present the commercial printing industry with the opportunity to turn the page and focus on the next phase.
More Manufacturing
Emerging economies are also expected to play a big role in the growth of the commercial printing business in 2018. More factories are producing items than before, and they will continue to need printers for products and packaging designs.
Where the industry will be in ten years remains to be seen, but with experts predicting increased growth and more investment in next-level technologies, it's safe to assume that the industry might be ready to accept changes and start a new era of printed materials.