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In February 2022, construction equipment pricing continued to trend upward, with average fair market value up 5.1% year over year. If you need to purchase heavy machinery for your company, then you might be balking at the prices.
The good news is, there’s still a decent market if you look in the right places. For example, you can get used equipment, which can be in good condition, at fabulous prices.
However, you need to be careful; otherwise, you’ll waste your money. Read on for four considerations you should think about before you make a heavy equipment sale.
1. Check the Maintenance Records
A piece of equipment may look like it’s in good condition, but like with vehicles, issues are easy to hide with a fresh coat of paint and some minor repairs. You won’t know what’s lurking underneath until you check the maintenance records.
When you look at this information, it’ll give you a good idea of how the machinery was used and how that impacts its current condition. And if it’s been rigorously maintained, then heavy usage may not have as big an effect, as any small problems would’ve been fixed before they became serious ones.
2. Dig Into the Seller’s Reputation and History
The worst thing that can happen is that you pay a large sum of money for equipment, then the seller disappears without giving you the product. Or they disappear when you have questions and concerns over it.
Before you consider handing over any money, look into the seller’s reputation and history first. Using a reputable site like fuelled.com can help, as you can check out previous customers’ reviews and more.
3. Think About the Model Type
You might find a solid piece of equipment for a great price, but hold your horses. What’s the model type, and how old is it?
Unfortunately, some used parts may be difficult to source, and they’re expensive as well. Make sure you pick machinery that has easy-to-find and affordable replacement parts.
4. Examine and Test the Equipment
Any reputable seller will allow you to examine and test heavy equipment before you buy. If not, then that’s a huge red flag, and you should look elsewhere.
While you’re examining and testing the machinery, compare it to what the listing says. Does it seem like the seller’s trying to cover anything up? Then trust your gut and don’t go through with the purchase.
You should also check for things like tire wear, cracks, rust, discolored exhaust smoke, loose pins, strange noises, and big problems with major components. The safety components should all be in good condition too.
Good Luck With Your Heavy Equipment Sale
When done right, a heavy equipment sale can seriously work in your favor. Not only will you get a quality piece of machinery, but you also won’t have to spend a fortune to get it.
Just make sure you do your due diligence before completing a transaction. This can decrease the chances of you getting scammed and/or receiving a subpar piece of equipment.
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