Buying used heavy equipment and used compact construction equipment can be a cost-effective option for your business. But not doing your due diligence prior to purchasing used machinery can turn short-term savings into a long-term nightmare. To avoid the hidden pitfalls of buying used equipment, consider these tips.
- Get to know the current seller. What is their reputation? Do they have an established presence in the industry?
- Find out the history of the machine. Has the current seller always owned the machine? If not, who previously owned the equipment? Request to see maintenance records. Has the machine been maintained and serviced according to factory specifications? At Ring Power our inventory of used machines is drawn largely from our own fleet of rental machines, which consists of late model Cat® and other allied contractor equipment, that's maintained and serviced by our own technicians. Virtually all of our machines are brought to "zero defect" status before the sale, so they're ready to start working the day they arrive on your jobsite.
- Check the operating hours. While operating hours don’t tell the whole story, they are a good place to start when determining a machine’s remaining life span. Of course, machine age and maintenance history must be considered when determining how much weight the operating hours factor into your decision.
- Inspect the machine. If you are unable to see the machine in person, ask for photos, including of the engine and undercarriage.
- Ask about warranties and product support. A Cat Used Customer Value Agreement (CVA) combines delivered parts, optional dealer service and convenient insights on machine hours, location, fuel burn, fault codes and maintenance events. All in one plan to support your used machine. It’s a one-stop shop to keep your machine easy to own and ready to work.