When running a business, keeping business costs to a minimum where possible is paramount. When it comes to kitting out your construction business, grabbing the catalogs to look at new shiny equipment would likely be the first thing on your mind.
However, did you know there is a massive market for used construction equipment? There are so many benefits of buying a used one, given that it is of good quality and safe to use, which is going through a reputable company will help ensure that it is. TraxTrader takes a look at some of the benefits of used construction gear.
You can get what you need
If you look in the right places, you will find a wide range of different used construction equipment types available, such as:
- Crawler Loaders
- Dump Trucks
- Material Handlers
- Wheel Loaders
This list above is not exhaustive, but it does give you an idea of the extensive list of used equipment that is available from top quality brands like JCB, Volvo, Doppstadt, and Caterpillar. It isn’t just the price difference that you can benefit from. There are lots of benefits of buying used construction gear, and we look at some of these below.
When you own a business, you need to be spending money wisely, and if you can buy a used machine for your construction site, you can use the money you have saved to maintain the equipment you already own. Doing things this way means you could spend the same amount as buying a new one, only you would be able to buy two or even three pieces of used gear for the same price.
There is a noticeable saving straight away when you look at what is on offer. If, for example, you are seeking a mini excavator, something most sites use, brand new you are looking around £25,000 + tax. If you look at the pre-owned version of the same machine, you can pick one up like new for around £13,000.
Like anything, once your new equipment is taken away from the forecourt or shop, you are losing value straight away. Some construction gear can lose as much as 20% or even 40% value in the first 12 months. When you buy a used one, if you correctly maintain it and document any service or repairs that may take place while in your possession for any future buyers, you won’t lose much value. When it does come time to sell it, if you look around and sell at a time when that particular type of equipment is in demand, you can sometimes get back what you paid for it.
Unlike buying new, when purchasing used construction equipment, you do not have the wait for orders. The used one is often there, ready and waiting for you to get going.
More choice and flexibility
The pre-owned construction equipment market is global, so whatever your trade, construction, crane, material handling, quarrying, recycling, there are thousands of options available for used gear. It also gives so much more flexibility; you could have the opportunity to take on other jobs you wouldn’t necessarily be able to if you were having to buy it new – adding a potential new revenue stream to your business – if only on the short term. The equipment is easily accessible, considerably cheaper and could be with you a lot quicker than if you bought new. Then, once the job is done and the time is right, you can resell the piece of maintained, used construction equipment, making back most, if not all, of the money you spent on it.