Being in the market for used construction equipment requires you to complete some due diligence. There are great deals to be found with used equipment. These devices can yield an extraordinary return on investment as long as you can find quality pre-owned machinery. Let’s look at five tips that will help you navigate the used construction equipment landscape with success.
1. Trusted Brands Are Easier to Valuate
Better-known brands are not only trusted more but are also more abundant. There is a reason why well-known brands are popular in the space, and it mostly has to do with their quality and durability.
2. Do Market Research
Valuating a well-known brand allows you to compare it with other readily available units of the same make. Start your market research by getting a general estimate for a specific make and model. Check as many websites as you can to arrive at a price range. By considering the different features and attributes you require of the machinery, such as operation hours logged and age, you can narrow down the valuation and compare it with your projected outlay.
3. Determine the Equipment’s History
Determining the fair market value of used equipment requires full knowledge of its complete history. The more forthcoming an owner or dealer is concerning a used piece of equipment’s history, the more you can be confident that it has received the proper care up until now.
4. Demo the Machinery
Just as test-driving a used car can uncover performance issues, asking to demo used construction equipment will allow you to confirm its functionality. How willing the owner or dealer is to allow for a demo can also speak volumes as to how confident he or she is about how the machinery will perform.
5. Conduct an Inspection
No matter how well you know construction equipment as a user, an experienced and knowledgeable mechanic will be able to verify the condition of the machinery on a practical and operational level.
The fair market value of any piece of equipment is dependent on the make, model and condition. If you are looking for quality used construction equipment in the Indianapolis region, contact QuickLifts, LLC to speak with a reputable specialist. We also offer rental equipment and repair for all your heavy machinery.