Construction equipment does not come cheap and therefore, knowing when to repair rather than replace it is critical for your business and profitability as well. A machine needs to retire at one point in its service time, but before making this decision, ensure that you have done your homework well. This will save you not only in new equipment purchase costs but also increase the machine’s utilization. Here are a few determining factors to look into.

Downtime Costs

Equipment failure that causes downtime results in job delays. It also causes your construction crew to sit idle and increases costs in repairs. If you have mature equipment or have not been taking good care of the same, then expect frequent downtimes. To determine the frequency of downtime, you need to build time between the different jobs so as to inspect the equipment condition. By doing these routine inspections, you will be in a better position to determine how much of repairs will need to be done and at what cost.

Utilization

You will need to take log on how often your construction equipment is used. If the equipment is used every day of the week, the chances of downtime are very high. However, if the machines are mostly idle within a week, making repairs will be a more prudent option to purchasing new equipment.

Residual Value

The worth of your machine should be a deciding factor on whether to trade it in for another or simply repair it. It may be of more value selling it in another part of the world than it sitting in your garage. Once you know its worth, decide whether repairing it is a better option to trading it in and getting a new one instead.

Machine Performance

Boosting the performance of a machine can be done by making certain repairs and changes. However, if your equipment is outdated and inefficient, taking this step may prove to be costly and not worth the while.

Lift Rentals in Indianapolis

There are many other things you need to consider when deciding on whether to repair or replace your machine. You may not have the expertise to make the tough call, but we at Quick Lifts LLC can help you with such a decision. If you reside in Indianapolis, Indiana or its environs, contact us today and we will guide you.