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Do you own a construction company? As an owner of a construction company, you have two goals. You aim to deliver high-quality services and make a profit.
You can’t achieve both if you don’t have the right construction equipment. You must make sure that all your construction equipment is in order. If you need to buy construction equipment, you must know how to make the most out of your investment.
You must avoid construction equipment shopping mistakes. If you commit these mistakes you might find yourself in deep water. Read this article to learn about 7 common mistakes and how not to commit them.
1. Not Buying Construction Equipment From a Reputable Dealer
Construction equipment is essential to your company. You can’t afford to buy equipment that’s in poor condition as it can break down soon. Faulty equipment can lead to costly repairs.
Before you buy construction equipment from a dealer, you must make sure it’s a reputable one. Do your research. Go online to search for reviews and trusted testimonials from former customers.
It’s a good idea to ask your business associates for recommendations. They can give you good leads.
It’s a good idea to look up the business on the Better Business Bureau website. See if the business has any complaints. These are usually big red flags.
Once you find a suitable dealer, you should conduct a background check. It’s a good way to make sure you’re in good hands. You must also make sure to check if the dealer is the registered owner of the equipment.
Ask the dealer to show proof of ownership. This will help you confirm the equipment isn’t stolen. Don’t be afraid to go the extra mile to make sure you aren’t getting a bad deal.
2. Not Knowing How Old the Equipment Is Before Buying
Before you seal the deal, you must find out how old the equipment is. Construction equipment depreciates significantly in the first year of its sale. You must know this information to determine if buying the equipment you want is a wise decision.
It’s important to know how much of the value depreciates. Machinery and equipment are expensive, but their value can drop as much as 30% after the first year of its sale.
You must maintain your equipment in good condition. Doing so will help keep its value for years.
If you plan to buy used equipment, you must know how old it is. Find out if the owner has maintained it.
3. Failing to Test the Construction Equipment
When you buy a car, you test drive it to make sure it works. The same principle applies to buying construction equipment. Don’t fail to test the construction equipment before you buy it.
By testing it, you can learn if there are any issues with it. This will help you determine if you might have to make repairs to the equipment. If it doesn’t work, you should pass on it.
The dealer should let you test the construction equipment without a problem. Are you buying a vehicle? If you’re, do test all the controls, sticks, and pedals to make sure everything is in working order.
4. Failing to Make Inspections
After you test the construction equipment, you must make the necessary inspections. This applies to both used and new equipment.
Inspect important elements of the equipment. This includes the transmission and the engine. Be on the lookout for weird emissions and sounds as these can signal a problem.
Once you’re done inspecting the engine, move on to the exterior. Inspect the tires and tracks. Certain signs will tell you if the equipment has been abandoned outdoors.
5. Not Checking the Return Policy
If you aren’t happy with your new construction equipment, you might want to return it to the dealer. Not all dealers might accept returns. To avoid any problems down the road, you must make sure the dealer you buy from has a solid return policy.
If the dealer does have this type of policy in place, you must get a copy of your receipt or invoice. Save it in a safe place in case you need to return the equipment.
6. Not Setting a Budget
With the pressure to buy equipment, you might find yourself against the wall. Don’t put yourself in this position. Set a construction equipment budget and stick to it.
Your budget must be realistic. Before you go out to buy equipment, write down what type of equipment you need. Determine how much money you’re willing to spend.
A budget will help you keep down costs. It’s a good idea to share your budget with your supplier who might be willing to work with you and give you a better deal.
7. Not Planning For Delivery
So you bought the equipment you needed? How will you transport it to the construction site? Work with your construction equipment provider to set up delivery of the equipment.
The equipment needs to arrive safe and in one piece. You must have your employees ready to take possession of the equipment.
Are you looking to buy used heavy equipment? Click the link to see all the different types of equipment for sale.
Don’t Commit These Seven Construction Equipment Shopping Mistakes
If you’re planning to buy construction equipment, you must do so wisely. You must avoid these 7 construction equipment shopping mistakes. You can save yourself a lot of trouble and headaches by avoiding them.
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