Investing in heavy equipment

Investing in heavy equipment

The following are some important questions that you need to ask yourself before investing your hard-earned cash in industrial surplus.

Who is the seller?

It is important that you find a reputable seller. However, this isn’t always easy. Request to see the seller’s inspection reports as this will help you to get an insight into the level of quality they deal in. Also, consider recommendations from previous buyers, as their experience will tell more about the seller and their products.

Is the equipment still under warranty?

It is in your best interest to choose equipment that is still under warranty. Most construction and earth-moving machines come with extensive warranty periods, in either working hours or years.

Does the equipment have a good service history?

You definitely want to invest in a machine that has been well-maintained and serviced regularly. So, remember to check the service records and raise concerns over any gaps you see.

Is the brand reputable?

If possible, just go for the well-established and reputable brands. You will need to do some research on reliable brands that provide quality and durable products.

How many hours has the machine worked in total?

While you should always consider the age of the machine, pay special attention to the total number of hours it has worked.  Keep in mind that a machine eventually becomes more prone to failure after attaining a certain number of work hours. So, if you are conflicted between two machines, go for the one that has completed fewer work hours.

Does it pass inspection?

Have the equipment thoroughly checked and inspected. Your best option is to hire a qualified inspector to check it for any signs of leaks, damage, and poor maintenance.

Can I test drive it?

You shouldn’t make a final purchasing decision on a construction machine before you’ve taken it for a test drive. In case the seller is reluctant to let you test drive, move on to another seller.

Does the equipment make any unusual noises?

During the test drive, let the equipment run for some minutes and keep on the lookout for any strange noises such as knocking, creaking or squeaking, singing or whining, as the machine is in motion.

Have any new parts been installed?

Find out if the equipment has had any new components installed. While this can help to prolong the service life of the equipment, to be on the safe side, avoid buying the machine if the new parts were installed due to an accident.

Is the brand still in operation?

Avoid any brand that has been discontinued as you will have a very hard time sourcing replacement parts for the machine should you need to do repairs.

Are there any signs of repair?

Watch out for weld marks or a new paint job as these can be signs of previous damage. Regardless of the quality of the repair work, the longevity of the machine may still be compromised.

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