Things to Consider Before Buying Used Equipment
Buying used equipment has many benefits but it also requires a little bit more discretion on the buyer’s side. Lower prices are often the most enticing part of buying used equipment, however, there are several other factors to consider before going through with a purchase. In this article, we cover the 5 factors we think are the most important to consider before buying.
Seller Reputation
Regardless of whether you’re looking at used equipment online or in person, it’s important to take into consideration the seller’s reputation. Since you will largely be relying on the information they provide about the equipment, it’s important for you to know if they are reliable. If the equipment is being sold by a dealership, do some research into the company and what people say about them. Are they honest? Are they transparent with customers? Are customers generally satisfied with the equipment they get from them? It can be a little bit more difficult to figure out the seller’s reputation if you are buying from a private party. If this is the case for you, follow your instincts. Does the deal seem too good to actually be true? Does what they are telling you make sense? Are they answering your questions or are they avoiding them?
Condition
What sort of condition is the equipment in? Does it look like it has been well cared for or is it in rough condition? Ask the seller what they know about how the equipment was used. Pay attention to if the seller's description of the equipment matches what you are seeing. If the seller is saying the machine is in premium condition but you can tell it’s been used aggressively, that should be a red flag that the seller isn’t telling the truth. If you are really interested in a piece of equipment and aren’t sure of its condition, ask an expert to take a look at the machine and see what they think of it.
Maintenance History
Ask the seller about the equipment’s maintenance history. Some of the most important things to figure out include how often the equipment was serviced, whether there have been any repairs, and if there are any current issues with the equipment. Asking about these things will help give you a better understanding of the machine. When you are buying used equipment, ideally you want to buy machinery that has been serviced regularly. If equipment hasn’t been regularly serviced, it can cause issues with how the equipment operates. If there have been repairs done in the past, it might be indicative of issues that could arise in the future, or if there are known weak spots in the equipment, knowing that they have already been repaired could mean you won’t have to worry about them. Asking about current issues will help you have a better understanding of the amount of money and work you will have to put into the equipment before it is ready for operation.
Operating Hours
Knowing the age of the equipment is definitely important but knowing how many hours the equipment has been used is oftentimes more of indicator of future usefulness than the year it was manufactured. If a piece of equipment is several years old but has been used very little, it retains a lot more of its value than a newer piece of equipment that has thousands of hours on it. Equipment that has been used more often and for longer periods of time will show a lot more wear than equipment that has minimal use.
Price
After evaluating previous factors, it’s time to take a look at the price. You might be thinking, “Why isn’t price the first factor I should consider?” Oftentimes when people are searching for equipment, they narrow their search window by price, which is totally fine, but it isn’t the most important factor. A piece of equipment might be for sale and the perfect price, but if it doesn’t first pass all the other factors, it isn’t worth it. When you are pricing out how much you are willing to pay, do some research on what other pieces of similar equipment in similar condition are selling for. If the equipment you are looking at is priced higher than comparable units are, talk to the seller and see if you can work out a deal. If the equipment is priced way lower than the units you compared it to, this could be a red flag.
Pro Tip: Ask to test out the equipment before you purchase it. Make sure everything works correctly. Sometimes equipment can look perfect in pictures and even in person but to get an accurate feeling of what it is like, you need to operate it.
If you are in the market for used compact construction equipment, lawn and garden equipment, or agriculture equipment, take a look at what we have for sale at Prairie State Tractor. We have eight dealership locations across Illinois and we sell all makes and models of used equipment.