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Buying Used Machinery For Sale

Event Details

Buying Used Machinery For Sale

Time: December 19, 2023 at 6pm to April 19, 2024 at 7pm
Location: us
Event Type: buying, used, machinery, for, sale
Organized By: Rod amser
Latest Activity: Dec 18, 2023

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Event Description

Purchasing machinery is a huge investment. Adding a new machine to your manufacturing line takes time and money before it can return revenue to your company.

Tom discusses how he helps buyers connect with machinery dealers through his website Surplus Record. He says endusers appreciate the transparency of information listed about sellers compared to some online marketplaces.

Buying Used Manufacturing Equipment

Whether through a dealer or an auction, a business can get equipment on the job site much faster when they buy used. New machinery can have long lead times and may require an extended wait for delivery from the factory. That lag time can result in lost productivity and increased expenses for rental or leasing equipment to cover gaps.

When buying used, you can often save thousands on the cost of a machine. Taking the time to do your due diligence can help you ensure that the piece of machinery you purchase is of good quality and will provide years of service.It’s also important to check the ownership history of a piece of machinery. If a machine has changed hands frequently, it might have been underused or poorly maintained. Also, look for liens or seizure issues that could have an impact on your ability to own the equipment. For these reasons, purchasing used is a solid option for many construction businesses.

Know Your Limits

Navigating the auction floor requires a strategy that is aligned with your budget and value assessment. The best way to avoid impulsive overspending is to establish your maximum bid before the auction begins. Then, you can focus on evaluating each piece of equipment to see how it meets your needs.

Another consideration is the machinery’s history of ownership. The number of times the machinery has changed hands can tell you how much it has been used and whether it was well-maintained. It’s also worth determining whether the equipment has sustained any major damages that could limit its further use.Lastly, it’s important to ensure that the model of the equipment you want still has replacement parts available in the United States. This is particularly true if you need specialized equipment or technology such as telematics devices.

Don’t Be Afraid to Ask Questions

When it comes to buying equipment, you want to do your due diligence. This can mean asking the right questions and looking for specific answers.

Another thing to consider is if the seller actually owns the equipment. If they do, it’s important to provide clear photos and documentation. This can help you avoid scams and ensure that the machinery is safe to operate.When companies decide to sell used machinery for sale, they usually have three options: working with an equipment dealer, selling at an onsite auction or purchasing directly from the owner. Each of these options can have different benefits and drawbacks, but the main goal is to maximize value. That means ensuring that the machine is a good fit for your needs and getting it at a fair price.

Know What to Expect

Buying used manufacturing equipment is an excellent way to save money and still get the exact machinery you need for your company. However, there are some things that you should know before investing your hard-earned dollars in this type of machinery.Check to see if the seller owns the machinery outright or has paid off any loans. Also, make sure the equipment title is free of liens and the original owner’s information lines up with the invoice on the initial purchase.

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