The Advantages of Buying Used Construction Equipment

Excavator stand in construction site
By James White
As the economy picks up steam and your construction business grows, you may find yourself at a crossroads: Will you stay small, or will you expand your operation to take on more jobs? 
 

There are many decisions to make when growing your business, and one of the biggest is about equipment. You can always hire more workers and increase your marketing strength without too much trouble, but the bottom line is that you can only take on as much work as you are able to send machinery to. You can line up tons of jobs, but your customers will experience long, frustrating wait times if you only have one excavator for getting that foundation dug. 

New construction equipment requires a huge investment, though, and financing a brand new backhoe or dump truck can be a challenge. Luckily, you don’t need shiny, new equipment to get the job done. Purchasing high-quality used machinery has plenty of advantages:

  • Price – The most attractive aspect of buying used heavy machinery is that it simply costs less than a new machine. Despite what the manufacturers may want you to believe, construction equipment technology isn’t growing by leaps and bounds each year, and a used backhoe loader from 2013 is going to be just about the same as one from 2016. The biggest difference? It will cost thousands less to make it part of your fleet.
  • Insurance – Just like a car, your heavy machinery needs to be insured, and it gets expensive. Most policies base their premiums on the current value of your construction equipment, so you’ll pay lower premiums to insure equipment that is older and less valuable in the eyes of the insurer. Quality used equipment gets the job done and keeps saving you money in the long run.
  • Peace of Mind – Buying a new piece of heavy equipment can be fun, but it can also be nerve-wracking. No one wants to be the first guy to dent the shiny new toy, and you may find workers going more slowly to protect the equipment. Some caution is appropriate, but not to the point that it slows your work schedule down. With a used piece, the psychological damage of dents and dings is much less.

For additional peace of mind, narrow your search for used construction equipment to a qualified dealer with an extensive inspection process. Buying used equipment doesn’t mean picking up someone else’s banged up castoff – you can find a fully inspected, tuned-up and clean item for a great discount.

When you’re ready to expand your construction business and take on more jobs than ever before, investing in used construction equipment is one way to make a smart financial choice. Carefully planned expansion is the key to your future success, so make sure you choose the right investments in your business.

James White is an experienced home improvement blogger and construction worker. His writing has appeared in many publications, including True Look, EHS Today and Building Blok. James is involved in promoting the ideas of sustainable building and construction safety. And, when he's not saving the planet through his blogging, James revels in exploring the latest developments in the construction and manufacturing industries, its history, its advancements and where we will be tomorrow.

Have an idea for a guest blog for Construction Today? Contact alan.dorich@phoenixmediacorp.com or jim.harris@phoenixmediacorp.com.

 

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