5 Tips for Buying Used Construction Equipment

If you’re looking to expand your fleet of equipment or are buying for the first time, buying used can be a smart way to get what you need without the huge investment of buying new. Renting equipment is a great financial option, but when you find you’re using a piece of equipment so much that you need one constantly, it may be time to buy.

Buying can tie up a lot of funds and is an investment, so it's essential to do your due diligence before making a commitment. Here are some tips for buying used equipment.

 

1.    Know Exactly What You’re Looking For

 

Don’t compromise on your requirements. If you’re looking for the right size, capabilities, and attachments, take your time until you find them. Think about what you're going to be using it for. If it can't tick all the boxes, don't settle, or you won't be able to maximize the investment.

 

2.    Only Buy from a Reputable Company

 

When you’re buying used equipment, you’re better off buying from experts in construction equipment. Equipment rental companies sell used construction equipment, and since they specialize in equipment, you can be sure the company knows the history and condition of the equipment inside and out.

 

3.    Do Market Research

 

Compare different used equipment to learn the fair value of a piece of equipment. Several factors will affect the value of equipment, such as age, maintenance schedule, overall condition, and more. Developing a grasp on a fair price of a machine will help make sure you're making a smart purchase.

 

4.    Check the Background of the Equipment

 

No matter who you're buying from, you should always have access to service records and maintenance logs. Equipment rental companies have detailed reports on their machines for the most accurate history. It's essential to look at these records before the purchase is final because you can spot any recurring issues and track whether or not previous owners regularly maintained the equipment.

 

5.    Inspect the Equipment

 

Bring along an experienced mechanic when you examine the equipment. They can make the best judgments about the overall condition of the equipment. They'll check the engine, look for fluid leaks, check oil, test every feature of the equipment and the controls, check hydraulics and more. Your mechanic can tell what's everyday wear and tear that's not a concern and what the lifespan of the equipment has left.

 

Bottom Line

 

Buying used equipment can be a smart move for your business when you need an extra piece of equipment in your fleet. You should do your research and determine what you need before you start shopping.

When you're ready, Falcon Equipment Rentals has used machines for sale in excellent condition with maintenance records on hand so you can make the most informed purchase. Contact us to see what we have available.