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How to buy heavy equipment at lower price

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Every company would want to buy raw materials required to make finished goods at a lower price. This will help them to bring down their manufacturing cost and can make more profits in return. However, the challenge here is to know the source that can provide them the raw material at a lower price. The raw material provider does not provide the stuffs at cheap rates to everyone but there is a simultaneous market that deals with the same stuff at a lower rate. The problem is not everybody is aware of this simultaneous market. Similarly, when it comes to the construction industry, they have one such market from where they can buy heavy equipment at a lower price. There are few construction companies who are in the business of buying construction machines at a relatively lesser price and then let it out to other companies or contractors. They make good money in this transaction as well as are also able to retain the machine.

Repo heavy equipment can be bought at a lower price:-

Buyers of heavy equipment who purchases the machines by borrowing loan and if they are unable to repay the money, the machine is repossessed by the lender. Now, the lender does not want to keep it under its possession for too long. The lender is interested to get its money back and therefore it auctions the machine and sells it to the highest bidder. In this particular case, not many people are aware of such auction and therefore not many people turn up. Also, the lender wants to get the money back that it has lent to the borrower and is not looking to make more money by doing this process. This means they keep the price of the heavy equipment much lower than one can think of. Due to low footfall, the price of the machine does not increase exponentially in the auction and the highest bidder can manage to buy it at a lower price.

Shutting down the business:-

The construction sector is quite a challenging and dynamic one and not many people are able to survive the odds of the industry. This is why many people decide to shut down the business and try something else. The people who are in the process of shutting down their business would want to sell off all their belongings so that they can have some money at the end of their entrepreneurial journey. They will be releasing an ad in local newspaper or simply list the item on some website that deals with buying and selling of heavy equipment. Just in case, you manage to get to know the person, you can directly walk up to him/her and check if he/she wants to sell it off to you. You can check the condition of the machine and give him/her a deal that he can’t refuse. They will be happy to get anything reasonable that you can offer him/her and will hand over the machine to you.

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Buying heavy equipment online is a boon for small contractors

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We often understand that construction industry is an industry where the owner ends up making enormous amount of profits but simultaneously we also fail to understand that the market is tough for people who are new to this industry or the one who lacks financial stability in their business. For such folks, striving hard and coming out of the misery is the ultimate solution. Right from getting big projects to hiring operators and workers, they got to struggle for every small thing. Other than that, they also have to strive to sustain their business from any external powers like competition, rise in the price of heavy equipment, improvement in technology and things thereon. One of the biggest factors that has become the hurdle for small time construction companies or contractors is the rising price of heavy equipment. They are finding it very difficult to overcome the rising prices of machines which is considered to be the lifeline of any construction business.

Small construction companies are left with very limited options as far as buying of machines are concerned. They either have to shell out good deal of money to buy at the price the heavy equipment companies are selling or have to consider the option of buying used equipment. They were suffering from another challenge of hunting for sellers who were willing to sell their equipment at a lower price until they were able to buy equipment online. Here they do not have to spend lot of time to search sellers selling the item they are looking for. All they got to do is key in the word in the search menu and start looking for the best deal.

Few things that a contractor should consider before he signs on the dotted line.

Check if the item is worth the value:-

Before you even think of contacting the seller, it is imperative that you do your research well. Try to know few things about the machine from people who has worked on it or from the internet. Try to know the price of the machine from different sources and then see at what price the seller is willing to sell it. You do this to ascertain the correct price of the equipment so that you do not end up paying more than what you should be paying. Once you are sure of the price, you can then try to bargain the price with the seller and check if he is willing to lower it any further.

Ascertain if the item is in good condition:-

Once you have fixed the price with the seller, the next thing you should do is to check if the item is in good condition. You will certainly not want to invest your money in rotten stuffs. Try to fix an appointment with the seller so that you can personally go to inspect the item. It is advisable that you go along with an expert mechanic who will check if the machine is in order. If only both of you are content with the quality of the machine, you can go ahead and sign on the dotted line.

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Buy heavy equipment from companies to get the best deal

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The different types of heavy equipments are the workhorse of construction industry. Heavy machinery and equipment is a serious business and costly too. While buying these equipment a number of factors should be considered as duration, scale, budget and their future use. The harsh construction activities leads to wear and tear, hence buying quality equipments is of utmost importance. In such cases it is good to buy the equipment from a branded company. Companies like Caterpillar Inc. sell both new and used (in running conditions) equipments. They offer good deals for the same.

Some useful tips on buying equipment from companies are as follows:

  1. There are a number of construction projects in pipeline. If the existing current equipment will not be able to complete all tasks, then additional equipment are required. While purchasing equipment in bulk one should check if they adhere to quality standards and are user friendly. They should be compatible with the worksite conditions. Such bulk purchase should be made from companies since goods can be negotiated with them.
  2. The company’s Application specialist also guides and gives suggestions/advice on operation of these machines. In addition, he provides troubleshooting to the problems faced by the customers while using these machines.
  3. Construction is an expensive business. Purchasing brand new equipment requires a lot of planning. The owner may not be able to purchase brand new machines due to economic constraints. Further, always the operators are not comfortable while using new machines embedded with latest technology. Hence, the company has to impart training to them which adds to the cost. In this case purchasing used (pre-owned) machines is helpful. One just has to ensure that all the parts are in working conditions and will not have to bear huge repair costs in future.
  4. When purchased from companies, the equipments have warranty period. If anything goes wrong with equipment during this period it will be repaired free of costs. The equipment needs to be backed by the in-house service team.
  5. Buying from companies will be economical since they offer routine inspection and guide on maintenance of the equipment. The spare parts will be also available with them.
  6. At times these companies lend their equipment to the customers for fixed time period. This practice allows the customer to get used to equipment and later purchase it.
  7. Many times these equipment are given on loan basis. One just has to pay monthly instalment till it recovers the cost.

Heavy machinery and equipment is an expensive business. The production depends on the kind and quality of equipment used. One has to ensure that these machines are bought from trusted dealer or companies so that it turns beneficial in the long run.

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How to purchase worthy heavy equipment

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Be it a construction business that owns heavy equipment or contractors who uses their heavy equipment in various construction sites, they all are worried about one basic thing and that is have they bought worthy heavy equipment? Is the machine going to work for many years as promised by the dealer or the heavy equipment company? These thoughts do make several rounds in the mind of the person who has recently bought heavy equipment and it is also very obvious for them to worry about the worthiness of the machine. They buy heavy equipment after investing thousands of dollars and they want suitable outcome of their invested money. They just want the machine to function when it is required to.

There are few things that one needs to do before he decides to go for procuring heavy equipment. These steps are simple but many skip doing them due to several reasons better known to them.

Go for a good brand:-

Purchasing heavy equipment from a famous brand has a lot of merits. A famous brand will not afford to play around with the quality of the machine and therefore whatever they will manufacture will be of top notch quality. Though they may sound to be expensive but will be very reliable when it comes to performing on the jobsite. You may have to shell more money while buying the item but then it will save your money as far as fuel consumption is concerned which becomes another major cause of worry to the owners of heavy equipment. Moreover, they will cost less on maintenance and will be more productive unlike machines of less popular brands which start giving problem after few months of purchase.

Take valuable suggestion from industry experts:-

It makes a lot of sense to take suggestion from few people who knows the in and out of the subject and then take your call. The heavy equipment company will speak all positive about the machine but you will get to know about its negative side from industry experts who have been working on different kinds of heavy equipment for the last many years. They might be in a better position to give you valuable suggestion about a particular machine. You might also consider taking suggestions from more than one person. However, refrain from involving too many people as that might confuse you and weaken your decision making ability.

Take an expert with you to shop for heavy equipment:-

Ask an expert to accompany you whenever you decide to buy machines. This is perhaps one of the best options you can take to purchase worthy heavy equipment. It will actually allow the expert to personally check the machine and also ask certain intrinsic questions which are technical in nature that you may have skipped to ask. This will always prove to be advantageous to you. The only criteria will be that you should know he is a trustworthy guy and will not mislead you.

 

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Buy affordable second hand heavy equipment sold by dealers

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If you are a person who wants to stay loyal to a brand and do not want to switch amongst manufacturing companies then you probably have to pay a price for it. But if you are not even willing to pay the price, then perhaps you do not have more options available. However, when it comes to heavy equipment it seems that now you have options. Heavy equipment have always been an expensive item even if it is decade old and small construction companies as well as contractors find it difficult to buy them directly from the manufacturers. This has also lead to a fall in the sales figure but there is another reason which is playing an important role to the sharp decrease in the sales volume and that is people are getting attracted towards second hand heavy equipment and there are dealers who are providing the brand that people want at dirt cheap prices.

So invariably now the dealers are making good chunk of money in a legal business. Though it is a loss for the mainstream heavy equipment companies but certainly a big gain for the small time dealers who predominantly deal with selling second hand construction machines and sees it as a growing business all throughout. Likewise, it has not only attracted the small construction companies but also the mid-sized ones as they all are been buying their stuffs from these dealers. So when the buyers do not see the mainstream heavy equipment manufacturing companies as the only option, these companies will have to work out things that save them from wrapping up their businesses. In fact, some companies have even winded up their businesses from few locations which is a clear indication that people are attuned to buy less expensive machines.

In terms of quality, they are not bad either. These dealers have connections with workshops that work on the old machines and make it look new. They also change the parts that do not work and ensure that they give a new life to the equipment. The cost of repairing a machine is not that high. So they only need to ensure that they put the things in place and make it ready to work. There are few agencies involved in this process. The first is the one who buys the old heavy equipment from the original owner. He gives it to the workshop who brings it back in shape and then it eventually goes to the dealer who sells it to another buyer. More often the agency who buys the machine from the first owner and the dealer are the same. They only need to have good connections with workshops where the heavy equipment are repaired and painted and rest is simple.

The advantage for buyers is that they can buy heavy equipment of any brand at a cheaper price and for guys who are brand loyal, they can manage to buy machines of their brand which is otherwise so expensive that it becomes out of their reach.

Be open minded when it comes to borrowing money for buying heavy equipment

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We often find ourselves in a state of confusion when it comes to borrowing money to buy heavy equipment. We are somehow unable to decide if it will be at all the right decision to borrow money from a financial institution as they will charge higher rate of interest and it may take a toll to repay the loan. On top of that, we also have to see that we have sufficient money to run the business. One who undergoes this situation will definitely see this to be tricky because he intends to buy new machines but taking a loan for that is what keeps him confused.

There are few tips one should take into consideration before they think of buying heavy equipment by borrowing money.

Study your financial standing well before your think of any procurement:-

Knowing your finances well is very important before you go with the decision of procuring heavy equipment. If you see the need to purchase the machine is quite immediate and you do not have sufficient reserves to buy the stuffs and run the company at the same time then you should consider options like renting the machine or for buying used ones. This will ensure that you have the much required machines and also keep up with your work. You only have to pay the monthly rent if you take it on rent and return it once the contract expires. Simultaneously you can also strengthen your reserves so that you can at least afford to pay the down payment the next time you think of procuring the equipment.

Study the financial institutions that lend money for business at affordable rate of interest:-

It is crucial that you do a thorough study of financial institutions that are willing to lend money for business at affordable rate of interest. At times, banks come up with various schemes which do not run throughout the year. It is kind of one time offer where they lend money at attractively lower rate of interest. This is done to specially attract businessmen to borrow money from them. You only need to check if they have any hidden cost attached with the loan. Most banks offer money at lower interest rate but they also charge high closing costs which becomes quite problematic for the borrower as he feels cheated after the deal.

Repayment plan should be in place:-

Once you are done studying the loan scheme of the bank and have decided to borrow money from them, the next important step would be to form the repayment plan. You have to ensure that you keep the installment money aside from all the recurring as well as non-recurring business expenses. For that, place a strategy well in advance where you have a contingency or a back-up plan in place. If things go wrong you know you can still survive with the money you have kept in the contingency reserve.

 

Looking to buy a bulldozer? Get some help here

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If you are a person who likes to do some research before deciding to buy a product, then you are moving on the right track in becoming a wise buyer. Not many give an intense research before buying an item and trust that the salesman tells them. If you go by the words of the salesman and then buy the product you end up with 2 possibilities. Either you get a good product that you will cherish using it or you will get something that is not worth your money. Eventually, you will lose some money in that transaction. Imagine the same situation when you are buying an expensive bulldozer. You just go by the words of the salesman and buy it. You later understand that you actually wanted some other features with some other benefits and now you don’t have much option.

We would be stressing upon few points that you must do before you buy a bulldozer.

Know your requirement and conduct an extensive research on the product:-

It is very important to understand what you are actually looking for in a bulldozer. Today, heavy equipment manufacturing companies have come down with “n” number of models having various features and every additional feature will cost you more. Therefore, it becomes extremely crucial for you to first know your requirements before you even start your research work. If you have a mighty project in hand then the set of requirements will be different but if the project is small then you may need an altogether different set of machine. Once you have known your business need, the next step is to do some research on the machine. As stated, bulldozers are manufactured by various companies and they come up with different models. So you need to study the kind of model you may need for completing the project.

Allocate funds for the purchase:-

While you are on with your research, you should also keep in mind another important aspect which is the amount you can allocate for the purchase. Check if you have enough funds to pay upfront or you want to pay via easy installments at the beginning of every month. Only when you are completely convinced that your finances are in order and you won’t have any trouble financially after purchasing the dozer, you should go ahead with the purchase.

Renting a dozer or purchasing a used one:-

Just in case, you find the amount way high and can overtly pinch your pocket, you might even want to take the option of either taking the dozer on rent or buy a used one. A used dozer will comparatively cost lesser and he may evade from feeling the heat.

Medium and small dozer are equally effective:-

If you are of the opinion that big machines are more effective then it is time to change your thought. It has been seen that in most cases a medium/small sized dozer has been more effective than a large sized machine. So considering the kind of project and the site, you should be looking for a dozer that suits your needs.

 

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Looking for more options to buy construction equipment – Go online

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When it comes to buying heavy equipment sky becomes the limit. You can just keep on purchasing different kind of small, medium and large range heavy equipment as they come with difference features and technologies. So if you are the owner of a construction company and are looking for some construction equipment, you have a wide market available. The only problem that you may encounter is you may not know from where you can buy the machines you require for your business. If you are a person who is loyal to a particular brand then you can directly contact the heavy equipment manufacturing company and give your requirement to them. They in turn will assemble all the machines for you. You pay them the money and they will get it shipped.

But let’s take the other way round. For instance, you are not a person who likes to stick with a particular brand and can move to brands that you find fits your budget, then you may find it difficult to contact every other brand and check what they have to offer you. In such a situation, you can make use of the online platform and see the different kind of options available in the market.

Using internet to check different kinds of equipment:-

If you are looking for different form of heavy equipment then searching it on the internet is the best option. You can register yourself in an online store that specializes in selling heavy equipment. That will help you to get in touch with different sellers and know the kind of equipment they are selling. You can also get to know the price of the equipment which can be easily compared from some other sources. The best way to compare the price of an equipment is to check the price on the company’s website and then compare it with the price the seller has listed on the equipment. On the basis of your requirement and the funds you have allocated for the machine, you can place your orders to them.

Buy the equipment from sellers who have good ratings:-

When you buy machines from any online store, you will find that sellers out there have certain scores attached to their ID’s. (EBay) This score can also be termed as the seller’s ratings. The ratings given to the seller suggest how good he is in terms of selling quality equipments and if the buyer is satisfied with his/her service. Hence, it makes sense to order equipment from sellers who have good ratings as you can assured that the stuff you will receive will be in good shape and if at all the machine turns out to be faulty, the seller will get it replaced without creating any hassles for you.

Easy refund of money:-

Just in case you happen to buy construction equipment from a seller who has shipped you defective item and is now not co-operating to replace the item, you have the option to register your complaint against the seller and also demand for a refund. You only have to ship the item back to the seller and the money will be credited back to your account.

 

 

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No point in buying new equipment when one can get it on rent

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Construction industry falls in that category of industries that has huge requirement of finances for some reason or the other. They need money to take care of the operating and non-operating expenses, pay the workers their wages etc. They also have to check on the kind of heavy equipment available with them so that in case there is a need to get a new machine they should have the funds to go and get it. Heavy equipment are quite an expensive stuff and one got to be ready in advance and keep the funds available to ensure that the need of the business is fulfilled. Having said this, there is one point that the owner of a construction company can ponder. In case, if they can get the same machine that they are looking for on rent rather than having to buy them, it may save a lot of money of the company and simultaneously they can make use of the funds that were parked to buy the machines to take care of some other business needs.

There is however one very important point that you should keep into consideration before you rent a machine. Since you would be using somebody else’s equipment, you should ensure that the machine has all the features that you would be requiring for the project and the machine is in good shape. You should probably take an expert with you who will examine the machine before go ahead with the deal. You should not end up taking equipment for which you have to repent in the future.

Few other pointers that you should know before you sign on the dotted line.

A brief history of the machine:-

To know a few things about the machine will always be beneficial as it will help you to negotiate with the giver. For instance, if the machine has some cases of accidents then it puts you in a position from where you can demand for a deduction in the rentals. Negotiations like these are always open and the taker must be ready to take chances wherever and whenever it is applicable. Knowing the history of the machine will also give you the idea of how old the machine is and is it at par with the construction equipment that comes with the latest technology gadgets. This will help you to decide if you should be eventually going for the deal as it makes no point in renting something that is technologically backward.

Knowing the tentative duration of the project:-

You should at least be aware of how soon you can complete the project. On the basis of that, you would be renting the stuff. Always rent the machine for an additional 2 months from the tentative date of completion. You never know if things may get delayed and you have to prolong the use of the equipment. Often the giver rents the machine keeping into consideration that he may not need the machine for a specific time and if he rents it to you he may ask you to hand it over once the terms completes. So if the work is left incomplete and he asks you for the machine, you will be left in a murkier situation. To avoid this, you should rent it for 2 extra months and keep things in your control.

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Upgrading heavy equipment can boost the construction business

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Human race has been benefited a lot with the advent of new technologies. We can’t imagine our lives without the presence of these technologies that we are using on a daily basis. It has not only affected our lives but has also played a significant role in giving our businesses a new dimension. A successful business largely depends upon the kind of technologies being used by the employees.

The introduction of technology has also changed the way the construction industry looked decades ago.  Earlier most of the heavy equipment were run on diesel and there were hardly hydraulics used. But now that is not the case. Construction companies are demanding machines that are environment friendly and also consume less fuel giving more productivity. The heavy equipment industry has also seen tremendous changes in the last few years. Every year we get to see an upgraded design of machine in the cover pages of construction equipment magazines. This clearly shows how much they are in demand in the construction business.

Old technology will not get the desired results in a short span:-

We live in a fast paced jet world where we want everything to happen just instantly. It is quite evident that we can’t expect things to happen instantly when it comes to construction but still people will expect the construction companies to finish up the work as soon as possible. With heavy equipment equipped with old technology, it will be almost impossible to get the desired results in a short span. Either you have to give time for the completion of work or you got to compromise on the quality of the building. However, if you are not ready with either of them, then you have to switch to equipment that have the latest technology gadgets fitted in it. It simple means that you have to upgrade your machines by installing the new gadgets.

Upgrading heavy equipment can get you more businesses:-

Guys who give you businesses also try to know the kind of equipment you would be using. They ideally do not pay much heed on the machines that you possess but they walk on strict deadlines and they want you to complete the work within the desired timeline. A delay of few days is acceptable but nothing more than that. So if you work on machines that take ages to complete a task, it will only tarnish the reputation that you have built. It will also affect your relationship with project giver and things may end up in a mess. However, if you have the upgraded machineries at your disposal, then you can always create a positive impression by completing the project in time or at times before time.

Chances of accidents go down:-

Upgrading the construction equipment can bring down the chances of accidents happening in the construction zone to a larger extent. As the old parts of the machine will be replaced by technologically advanced ones, the operator will find it very simple to maneuver the machine diminishing the chances of accidents. This will establish goodwill of yours in the construction industry and more and more people will recognize you for your work. This in turn increases the chances of getting more businesses.

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