When choosing between purchasing new or used equipment for your business, it’s important to consider the quality, price, and buying experience. While it may be more convenient to simply buy new equipment when the old one fails, purchasing used equipment can also be a viable option. However, it’s important to keep in mind that the process of finding and purchasing used equipment may be more time-consuming than buying new.
To help ease the selection process, here are some of the most important points to keep in mind:
Assess Your Specific Needs
When looking for industrial parts for your business, it’s important to carefully consider your specific needs and requirements. This includes factors such as the size, model, attachments, and capabilities of the equipment. Be sure to do thorough research to find the best option that meets your needs. Don’t just assume that a piece of equipment will work for you because it worked for someone else.
Check the Equipment’s History
It’s also crucial to inspect the history of the equipment before making a purchase. This includes checking for any liens or stolen status. Make sure you have the necessary documentation to confirm that the equipment is fully paid for and there are no liens against it. You can do an online search or speak with your bank to find an organization that can help you verify the equipment’s status. When shopping for used equipment, it’s best to work with someone you trust to avoid the risk of receiving stolen goods. Be sure to record the serial number or product identification number (PIN) of the equipment and check with the police or a specialized service to confirm its legitimacy.
Check the Operating Hours
It’s also important to consider the operating hours of the equipment. While it may not directly reflect the condition of the machine, it can give you an idea of how much use it has had. It may be wise to avoid equipment that has a high number of operating hours, as it may be more prone to breakdowns and require more maintenance. However, if you are still interested in purchasing it, you can do a cost-benefit analysis to determine if the money you save on an older machine is worth the potential additional maintenance costs.
It’s also important to make sure that the equipment has received regular maintenance. A poorly maintained machine with only 1,000 operating hours may not be a good buy compared to a well-maintained machine with over 10,000 hours.
Check the Fluids
When evaluating used equipment, it’s important to check the fluids, such as transmission fluid, engine oil, hydraulic fluid, and coolant. These can give you an indication of the current condition of the equipment and how well it was maintained in the past. If the fluids are dirty or low, it may indicate that the previous owner did not properly maintain the equipment according to a standard schedule. Other issues, like water in the engine oil, could be a sign of a more serious problem.
Signs of Wear & Tear
It’s normal for used equipment to show some signs of wear and tear, but it’s important to make sure that the damage is not severe. Look for signs such as hairline cracks, rust, or other damage that could lead to a substantial equipment breakdown down the line. If the equipment requires significant repairs, it can be both expensive and cause increased downtime for your business. In severe cases, the repair costs may be so high that it’s not worth purchasing the equipment at all.