When a specific piece of equipment calls for repair or replacement, one of the biggest dilemmas for contractors is buying a new unit or a used one for a lesser value. It will always be ideal to buy a new unit mainly because of assurance that the machinery will work properly and your investment would not go to waste. But for some companies, going for a used machine is more practical, money-wise. Here are some of the downsides of investing in used construction equipment:
1. No Warranty
Since third-party dealers sell most used machinery, it is common for the equipment not to have a warranty from the actual brand. If your machine breaks down, you will have to shoulder the maintenance costs. Although some dealers would negotiate some form of warranty with you, it will not be as good as if you buy from the actual manufacturing company.
2. Safety Concerns
You will never have an idea of how the previous owner used the equipment. You could only trust the previous owner’s words. Although you have the liberty to inspect the equipment before buying it, you can never be too sure that none of the parts turned over to you does not have some defect. Since construction equipment is used heavily on-site, these machines are very likely to have signs of wear and tear in one of its many parts. Some dealers do not disclose this information to make the sale.
3. Outdated Model
Manufacturers improve construction machinery from time to time. If you are to buy a used machine, likely, it’s not the latest model hence the lower price. Unlike when you are buying used equipment, you can choose the machine’s model, interior, and color among everything else. With older equipment, your choices are limited, and there’s minimal flexibility when it comes to customization.
4. Short Equipment Life Span
Since the equipment you are procuring is already used in the past, it is more likely to have a shorter life span than new machines wherein you are the first to use it. The reason why used machines are cheaper is that the quality will never be as good as a brand new one. Parts already show signs of usage and are most likely to need repair and replacements anytime soon. Unlike if you buy a new machine, parts are guaranteed to be brand new and are likely covered by a warranty that would be beneficial to you, especially if it breaks down early on.
5. Depreciation of Value
Just like cars, the older the equipment is, the faster its value depreciates. Unlike buying a newer and brand new model, the value would most likely be high for a few years compared to an already used machine.
Overall, there is nothing wrong with buying used equipment as long as it does the job. Remember to weigh the pros and cons before shelling out tons of money for your equipment. It is up to you to decide which choice is more practical for you and your company.
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