Buying new construction equipment is costly for businesses and this high ticket expense can rapidly eat into its profits. To help cut back on operating expenses and boost bottom lines, many construction companies opt to purchase used equipment as an alternative to new. There are many benefits to buying used equipment, here are some of the top reasons:
Far Less Costly
Buying new construction equipment is very costly. You’ll also need to consider how much new equipment depletes your cash flow and ties up your credit line. Since well-maintained equipment gets the job done with generally equal performance as a new piece of equipment, you’ll save yourself a pretty penny by buying used. Additionally, buying new often means delays since you can’t always take your equipment off the lot at the time of purchase. On the other hand, used equipment is ready to go and you can immediately use it to get to work without delay.
Avoid Depreciation and Get a Better Resale Value
When you buy a new car, it immediately depreciates once you drive it off the lot, on average, about 60 percent of its value the first four years. This concept applies to construction equipment as well. A huge advantage is by purchasing used equipment, it’s already been significantly depreciated by the original owner, so you’ll have a better resale value than you would if you’d bought new.
Afford Better Quality Machinery
Depending on your budget, if you’re looking to buy new, you might have to go with an inferior brand to be able to keep your purchase in the affordable range. With used equipment, you can aim for brands with higher quality mechanics and better performance rates, getting more value for your money.
Less Targeted by Thieves
Theft of construction equipment is a lucrative business for thieves, and shiny new equipment is more likely to catch their eye. Data shows 50 percent of construction equipment stolen in 2016 were relatively current models (five years or newer). Statistics suggest only 25 percent of stolen equipment is recovered. New or used, always be sure to secure your construction site and your equipment.
Quicklifts, LLC is a locally owned and operated company that has been serving Indianapolis and Central Indiana for more than 10 years. With combined employee experience of over 75 years, we offer rental, sales and service of our construction equipment, along with providing service to customer-owned equipment. We offer a large selection of construction equipment to help you complete your project on-time and under budget. For a free quote, call us today!