Tag Archives: Renting

Unable to sell your heavy equipment – Try renting them

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It is quite difficult to sell an expensive item how old it may be. You may just not get any buyers and this could be really frustrating at times when you are in dire need of money. At the same time, you may want to get rid of an expensive stuff that you no longer need but you are also not ready to sell it at a dirt cheap price which is why you are not getting more buyers. The people who are interested to buy the item often show their displeasure after knowing the price of the item.

People belonging to the construction industry have often experienced this kind of situation when they are hunting for buyers to sell their heavy equipment. Either you have to sell it at a cheaper rate or you just won’t get more buyers. The reason is simple. People who would be interested to buy a second hand heavy equipment will normally be small time contractors or small construction companies who have just begun their journey in the construction sector. They will have many strong reasons will not want to buy a machine that is though quite useful to them in their business is nevertheless expensive and out of their budget.

If you are part of such a situation it will be prudent for you to give up the idea of selling the machine and think about renting it. In this way, you can earn money on the machine and then the day you feel that it has gone real old and you will not mind selling it as scrap, get hold of a scrap dealer and finish the work. Till then stick to the idea of giving it on rent and earning money without having to do much. Many big construction companies who have lot of heavy equipment under their possession normally lease their machines to small contractors who in turn work for them in their projects. In this way, the machine is used for his construction work and he also manages to make good money out of it.

If you are not a giant construction company and do not possess too many machines to follow the above idea, you can play it smart by renting it to other contractors. You will find many such people who are in hunt of guys willing to lease their machine. You have to just talk to people about it. Talk to your friends who are contractors that if they know anybody who is looking to take the machine you have on rent. Try to spread it across to as many people as you can and you will get responses. Try to give a reasonable quote that is acceptable to the other party and if all sounds good then you should go for the deal.

Before you rent your heavy equipment please try to refurbish it by painting the machine and making it look new. People expect a machine that works and you need to ensure that the parts in the machine are in good condition and it will work for the period that it will be on rent.

Renting a backhoe loader

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If you have an asset which you are not using and that can be rented should be let-out without giving much thought. The reason is if you just keep the asset with you and do not use it, with the passage of time it will wear out. This means that you do not gain anything from it and you are slowly losing out on an asset. This makes absolutely no sense. In the construction business there are many small construction companies as well as contractors who are in hunt of heavy equipment and are ready to give a good rental price if they get something worthy. So for instance, if you own a machine and you do not see any use of it in your business for the next many years then it just does not make any sense to keep it with you. You end up paying a good price to maintain the machine which you will not use for many years.

Backhoe loader is one such heavy equipment that is known for its sheer quality and high class performance. Therefore renting a backhoe loader can always assure you good returns. All that you need to ensure is that you keep the loader in good state. Keep the machine well maintained till the time it is there with you and you have put it to some use. Also before you list the machine for rent, make sure that it is up and running. Try to take some help of a mechanic. He can fix the loader if at all it has any issues. Moreover, you should paint the machine and make it look new. We all want to acquire new things in our lives. So what if the next guy will own it for few months, it will still prefer to take it once it is painted and it looks new.

Use online platforms:-

Listing the backhoe loader on an online platform is perhaps one of the best options you can use. There are number of websites that deals with selling and renting machinery online. Right from an air condition to a car, you can find everything online. You have to first become a member of one such website. Take some pictures of the loader and post it on the website. Give a brief description of the machine like since how long you hold the machine, if it has gone through any minor or major accidents or have you recently changed any of its parts and things thereon. This information will be handy for the viewer and will help them to decide if they should go for your stuff.

Do not quote a high price for an old loader:-

You should be very careful while you quote the price of the backhoe loader. If at all the machine is old and has been repaired several times, you should quote a lesser price for the item. The taker should not feel cheated or else it can lead to further complications. It will be a waste of time to get into such unwanted situations.

Have the other two talk about renting different pieces of equipment

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Giving heavy equipment on rent is a very lucrative option when you are out of business or do not have many projects in hand. You will keep getting some money at the end of every month. Simultaneously, it is very important for the two parties to talk in clear terms about the terms of agreement. The owner of the equipment should make all his terms clear to the taker like how frequently he should be servicing the machine, how many hours he can make the machine work in a day and if by chance any accident happens then the cost of repairing the machine has to be billed to the taker. He cannot give the machine back to the owner in a damaged condition. It is advisable that they should make an agreement once they have finalized their talks so that their communication does not remain verbal and have some evidence to back.

At times, there are people who are particularly looking for a piece of equipment and not the entire machine. They may have the entire machine with them but just want to put an add-on which is perhaps missing in their machine. They just want to rent that piece of equipment to complete his work and then return it after using it for a couple of months. He may not have the need to use that piece for a year or so but the need may be very temporary in nature. Their needs may be unique and he may not always get what he wants. It is ideally that the guy who rents his machine would like to rent the entire equipment and not just the part. However, things are changing now and more and more heavy equipment owners are ready to rent pieces of their equipment to others.

The best way to know who is renting what is to search for it on the net. There the seeker may get plenty of options and can come down to the best suitable option. The online sites also offer the option to make the payment online and then the giver can ship the item to your doorstep. Nevertheless, before you make the payment it is important that you get in touch with the party and if possible inspect the item you’re willing to take on rent. It is only when you find the item good enough to take it on rent that you should go ahead with it.

It won’t be wise enough to make the payment before you even inspect the item or have a talk with the owner. Remember, having a clear communication is far more important or else it may lead you to bigger problems. Once you have talked about all the important aspects and are willing to make a written agreement on it, you can then go ahead and pay him/her online. Always make the payment of the item through the website as that will leave nothing at risk for you.

What is a good renting deal?

According to a report, 7 out of every 10-bank loans is rejected generally by the banks due to a number of reasons. Though there are many other options, but it is always best to get your constructional heavy equipment from the renting companies. It is because they don’t need you to have any financial statement. But, before closing your renting contract, how can you tell if you have picked out the right renting company?

Everyone wants to have a good equipment renting deal, and perhaps you are not an exception to this. The most important factors which determine your quality of the deal is listed below:

  • High Left-over value:- It is considered to be a very important factor. High left-over value can be easily translated into mean smaller monthly payments. And once you got a clear concept of how this works, you can easily explain the difference between renting two more or less same equipment. Actually, leftover value is the anticipated value of the construction equipment at the end of the renting period. So, if you have found that the equipment has a higher leftover value, then just relax- you have a good renting deal.
  • Competitive rate of interest:– It is also a very important factor to decide whether the renting deal is good enough or not. You must be conversant with the equipment leasing terms which the sales people use. It is due to the fact that generally these terms are quite different from the actual market terms. For example, most of the renting companies prefer to use the word “money factors” in place of interest rates. And, if you don’t get the terms right, you may be among those unlucky guys miss out a crucial segment of a sound deal. If you are hesitating to negotiate due to the incorrigible terms used by the renting company, then you can go to your financial advisor to find out if better rates of interest are available in the market.He can also tell you that the renting deal which you have chosen is appreciable enough.
  • Lower expense:- You can tell the owner of the company to lower your expense mainly your monthly payments. You can ask the company directly the reason of imposing such a huge fee on your renting deal. Try to go for a negotiation. If you are lucky enough, then you can get back security deposits and other fees which were the obstacles in making your deal a good one.
  • Customer service:- A good company should know how to render a satisfactory service to its customers. They should keep contact with you even after the end of your rent contract.

 

If you want to transfer your leasing contract with another company, then also you can do that. But, if your contract terms do not agree with shifting the contract to any other renting company before the end of the term, then you have no choice. Most of the renting companies now provide more flexibility, especially if you are renting a heavy equipment, so that you can have some room for negotiation.

Renting Your Heavy Construction Equipment Sounds to Be a Viable Option

Selling your heavy construction equipment which are not in use due to factors like availability of technological advanced machines or projects in hand do not need those machines may not always sound to be the only option available with you. In addition to this, not everyone would be willing to buy used construction equipment when they themselves can buy a brand new one. These things are worth to be considered and therefore one should make use of some other options which can fetch him some money from the “not in use” machine.

There are people entering the construction business in abundance and they are all in search of used machines. Thought not everybody might not want to buy, there are plenty of them who would want to take it on rent. Thus, you have the option to rent the machine on your own terms and get some money. You can make use of the money by reinvesting it in your business or using it for your own personal expenses or spending it the way you want.

The big question here is how you would come across people who would want to have your construction equipment on rent. You can find some very useful tips below. You only have to do is continue reading.

Posting an Ad in newspaper’s classified section:-  This should help you a lot in getting interested prospects for your heavy construction equipment. You can buy some space in the paper to add things and make it look attractive. It shouldn’t be too fancy but should be catchy enough to grab their attention to your ad. Give a very short description of the equipment and make sure that you mention your contact details to them. The specifications and features of the machine can be sent across to the interested prospects on their email.

You may also want to quote the rental amount on the ad which will act as a filter and will churn out the ones not ready to pay the quoted price. However, if you’re ready to negotiate the price, do mention that in the ad as well. It is recommended that you give the equipment on rent to someone in the city. It may be a problem to ship the item outside your city and vice-versa.

Posting an Ad online:-  Using this technology will help you reach out to people living in every corner of the city. However, firstly, you need to register yourself on a website which is quite popular with people and is used by most of the population in your city. Rest becomes simple. Post the ad stating the specifications and your terms on the listing. Leave your email address as well as your contact details for people to contact you and you can soon start expecting calls and emails from people willing to go for the deal.

Spread it within your business circle:-  A word of mouth does a lot good especially when it’s about business. You can just spread it across in your business circle that you’re looking to rent construction equipment and anyone interested can expect a good deal. Hopefully, you’ll see lot of your guys turn up to you for the deal.

Thinking of Renting John Deere Heavy Equipment – We’ll Show How to Do It

You have a strong business plan, have allocated human resources, also have few contracts in your pocket but have problems in getting the machines just because you can’t afford them? Well, money should never be a problem when you have the skills and are committed in delivering to your clients. This is perhaps all you need to become a good and successful businessman. Rest all are just things which supports your cause and should never become a hurdle for you. There are many big construction houses which had once started in a small office and now have an inspiring story for the beginners. You can also form one such story by taking up the challenges and meeting them with all your might and intelligence. As far as heavy equipment thing is concerned, you have options to deal with it.

Firstly, you need to decide the machines you need to get your work done. After having analysed the kind of machines you require, you may chalk out the company which produces the best of those machines. Well, to make this easy, there is one such company by the name John Deere who is committed to produce quality machines for their customers. Unarguably, the machines are quite expensive and for a beginner it would be a hasty decision to buy a brand new piece. In such a scenario, it would be recommended to take the machine on rent and use it until you can afford to buy a new one. Once you have your business rolling, there might be no looking back for you and you would be in every position to purchase a new metal for your business.

There are few alternatives from where you can get a good deal. You can try to browse the net and check things there. You might get astounded to see plenty of people having listed their heavy equipment for sale or to lease them for a period of time. You can take this opportunity to contact the person who has listed the item and try to have an appointment. You also have the chance to compare the stuff with other seller and can find the best deal for yourself. However, before you have an appointment, it’s highly recommended that you go through the specifications of the model you want to take on rent and also check out the features of it. If possible, have a chat with the lessor first, checking if the machine had any accidents or any of its parts were recently changed or fixed for having caused some problems. If only you’re convinced by the lessor, you may go ahead and book a meeting with him.

Once you go there to check the machine, it’s better that you take an expert with you who can probably do a test on the machine to know if it will work smoothly till the contract ends. The experts would be in a position to tell you if you should be going for the deal or should continue your hunt.

Ideally, John Deere machines don’t have many issues with them. However, that also depends on how it was maintained by the person using them. In the end, if you find a good deal, John Deere heavy equipment would never let you complain.