Category Archives: Buying Heavy Equipment

Things to Consider while Buying Heavy Equipment

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Heavy equipment is one of the most important or most essential elements in the current era of construction. If you too run a small to medium construction business, it is a must that you either own or rent the heavy construction equipment. The large scale construction business owners mostly own their own equipment. This helps them in cutting down the budget.

But, in case you are a small to medium scale construction business owner, it is a must that you consider these things before buying the heavy construction equipment.

  • Equipment that you need:

 

Depending on the type of construction work that you offer or are prepared to offer, you need to purchase the heavy equipment. The equipment needs to suit the type of business that you do. Many construction businesses only offer construction service for buildings. Many, on the other hand, offer services for dam construction, road construction as well as deforesting services. Your equipment should be compatible with your work or service.

  • Your budget:

 

The next thing that you need to keep in mind or take into consideration is that you should decide on a budget. Budget is the most important thing when it comes to buying the heavy construction equipment. This is because the heavy construction equipment do not come for an easy price. They are indeed expensive and you cannot afford to waste or engage money on something that you do not need. Make a list of the equipment and machines that you need and then decide your budget.

  • Used or New:

 

Since the heavy construction equipment comes for an expensive price, the small to medium scale business owners often think of renting the equipment. However, if your business is a well-settled one and you have quite a number of projects in hand, think of owning or purchasing the equipment.

While you decide on buying the equipment, you will get options like used or second hand equipment as well as the brand new ones. The prices differ drastically. There is nothing to worry about buying the used heavy equipment, provided you buy from a trusted source. Make sure it has all the documents and is sold buy a legal owner. Since the price of the heavy equipment is quite high, there are often illegal financial transactions taking place regarding the purchase and sale of the heavy equipment. Avoid any of that to make sure that you do not fall into trouble.

Also, check for the condition of the heavy equipment. The few things that are important are –

  • How old the equipment is
  • The condition of the engine
  • Whether the equipment is injured or not
  • If there is anti-theft software or tools installed.

If all these factors seem convincing to you, you can decide on buying the heavy equipment. You can check for the trusted online as well as offline sellers, who can offer you various options of these machines. The experts will certainly guide you regarding the choice of the right heavy equipment that you should spend on.

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Buying equipment overseas and shipping it to North America

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Just because the economy has opened up, it has led to doing business without much restriction all over the world. The world has shrunk to a larger extent when it comes to doing business internationally. This means a person located in Singapore can easily manage his daily business affairs that he has spread across several countries. Many small time businesses who were not able to grow in the domestic market suddenly became successful as they were allowed to trade overseas. The businesses that did not have many takers in the domestic market were able to benefit a lot once the overseas doors were open to them. Heavy equipment manufacturing companies that were founded in America have now spread their wings in many countries and are operating from there. So let’s say if you need a specific machine that is perhaps not manufactured in the US, it gets shipped from some other country and the order is met.

The reason why many heavy equipment companies have switched their manufacturing units from US to other countries is they get cheap labor and cheap facility as compared to US. Since they get everything so cheap and yet come out with supreme quality product is one of the prime reasons why they have moved their offices to other countries. It does not certainly means that they do not have any manufacturing units left in US. It is just that they are hedging their profits by having separate units all over the world. Other than that, they can also meet the demand of the construction industry of the country they are currently located in without having to spend more money in shipping the item from some other country. One more reason why it makes sense to produce heavy equipment in a country having cheap labor and ship it to US is the end product will cost far lesser than what it would have been if it was produced in the US.

Import and export restriction needs to be analyzed:-

Every country has some restrictions on the import and export of materials and so does US. All you need to do before you place an order outside US is contact the customs and inform them of the heavy equipment that you want to import. Check the restrictions that they have and what you can do to clear them by following the law of the land. The cleaning the quarantine department may pose some kind of problem to you as they will not want foreign germs and bacteria that is usually found in the soil and remains stuck to the tires of the machine. They might ask you to come along with certified heavy equipment cleaner who will clean the stuff and then you can take the machine.

Update yourself on taxes and duties:-

When you order heavy equipment from overseas, you are liable to pay certain tax and duties on the item. You need to update yourself on those duties. Get in touch with a professional customs dealer who will inform you about it and you can be prepared for your next move.

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