Going with lower cost, used equipment enables a construction contractor to build its fleet and retain capital that can be better spent on attachments, additional needed equipment, or other areas of the business.
For contractors evaluating used equipment, United Rentals shares these key considerations.
1. THINK BEYOND THE PURCHASE
- Equipment servicing: An ongoing equipment servicing program that includes professional inspections, preventative maintenance and repairs by expert technicians can be an efficiency strategy for equipment owners.
- Training: Operator training on equipment is important both for worker well-being and worksite productivity. Training formats have evolved to accommodate worker availability and a choice of instruction methods.
- Warranty: Consider bumper-to-bumper warranty coverage options to safeguard your equipment investment and minimize any disruptions.
2. CONFIRM THE QUALITY
- Maintenance history: Regularly-maintained equipment is likely to perform more reliably. Ask to see a machine’s detailed maintenance history before you buy it.
- Inspection: The benefit to viewing equipment in person is that it gives you the opportunity to do a visual inspection prior to purchase.
- Consider use hours more than age: Check the hour meter and compare the annual usage to an industry benchmark for that type of equipment. Also take into account how you plan to use the equipment and the worksite environment as factors.
3. BUY THE RIGHT MODEL AT THE RIGHT TIME
- Financing: Financing enables a buyer to manage the purchase cost of the equipment over time, and should cover all equipment-related costs, including warranty and freight.
- Tax savings: Consider purchasing the equipment before year-end for potential tax savings. Consult with a tax advisor for more information.
CLOSING THOUGHT
“More than ever, companies are looking to safely increase productivity with cost-effective solutions,” says Mike Durand, senior vice president, Sales and Western Division Operations at United Rentals. “If you’re planning to add to your equipment fleet, or buy your first machine, keep these considerations in mind as you shop the used equipment market.”
United Rentals advice to help customers successfully purchase used equipment is based on more than 20 years as a trusted partner on worksites.
For More Information:
United Rentals, Inc., the industry’s largest construction and industrial equipment rental provider, also makes a wide range of used equipment available for purchase, such as aerial work platforms, earthmoving equipment, light towers and generators, and more. United Rentals offers approximately 4,000 classes of equipment for rent at more than 1,180 locations and online at unitedrentals.com.
Modern Contractor Solutions, January 2021
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