When it comes to investing in construction equipment, buying second-hand machinery is quickly becoming the preferred option. But before delving into how to go about buying used equipment for your operation, it is important to first take a look at some of the key benefits of making such a purchase.
Perhaps the most notable benefit of buying used construction machinery is that it is much cheaper than purchasing new equipment. Thus, if you will be using financing, you will benefit from a much lower interest rate than when buying the machinery when it’s new. Keep in mind that the majority of new construction equipment loses most of its initial value during its first year of use.
By purchasing second-hand industrial parts, you essentially avoid the initial depreciation and associated service costs. To ensure that you are getting the best value and to avoid future frustrations, make sure that the used machinery has all the requisite records showing its history of service and maintenance. Nowadays, there are 24-hour live auctions on used equipment websites that offer all kinds of modes and processes for construction equipment at the click of a button.
Find a reputable dealer
While used machinery comes at a cheaper cost compared to used machinery, it is still a hefty investment. You need to ensure that you are investing your hard-earned money in a quality product. You need to be very careful especially when it comes to online vendors. Ensure to check customer reviews and testimonials and pay attention to the manner and speed of their customer service.
Any dealer worth their salt should have a well-established physical location. They should also provide correct contact information on their website.
Use the contact details provided on the website to gauge their level of customer service. Call one of the numbers provided on the website to see whether they respond quickly to customer questions and concerns and if they address them adequately. A trustworthy dealer will provide all the necessary certifications and documents to show proof of ownership and the legal right to sell the equipment.
A reliable used machinery dealer will have a well-designed and active website with regular online traffic
You should ensure that the machine you are buying meets the specifications of the nature of work you are carrying out. Check to ensure that the model type, fuel consumption, year of manufacture, availability of spare parts, and so on are suited to your personal preferences and requirements. All this is important to ensure a well-informed purchase.
You should also compare other similar types of machines manufactured by other companies and assess their pros and cons. You may find different models from different companies with almost the same exact specifications but at a different price range. It is always advisable to go for the lesser-known brands that offer the same value but at more affordable rates.
Equipment operating hours
It is crucial that you check the number of active operational hours in the machine’s history as this will help you to determine whether purchasing the used machinery is a viable option. A good piece of machinery will be able to hold its value even after many hours of operation. You definitely don’t want a piece of machinery that has a short working period but numerous repair visits no matter, regardless of how cheap it may be. The total costs of maintaining the machine should not be close or up to the costs of purchasing the equipment if summed to the initial deposit amount.
Testing and inspection
You should never purchase any piece of machinery without physically inspecting it first and conducting a test drive to evaluate its performance of the equipment. Look out for any unusual sounds or emissions. Check the condition of the seats, pedals, dashboard, and other features. In addition, ensure that the transmission is efficient and whether the machine will need any additional costs in service.
When it comes to paying for second-hand machinery, ensure it is made through traceable means and that there is a proper legal framework to ensure that the seller is held liable for any undisclosed faults that may lead to future problems.