Industries, ranging from construction and agriculture to landscaping and road maintenance, rely on heavy equipment and machinery to be effective and competitive in their work. While in this industry it may seem that purchasing new equipment, products, and machinery is the optimal choice, in most cases, buying used heavy equipment offers more benefits for companies in these industries.
How to determine the value of used and certified equipment
Whether you are selling or buying used heavy equipment, you want to ensure that you are getting the best value. The key to determining the value of the equipment is understanding what influences the price. In this blog, we’ll review some of the main factors that affect the price of used heavy equipment and machinery.
- Manufacturer: There are numerous heavy equipment manufacturers out there, but only few dominate the market. Many in the industry are willing to pay more for equipment made by a well-known manufacturer and the quality offered. Keep in mind, lesser-known and possibly less expensive brands of equipment may perform just as well as some of the big-name manufacturers. Having access to detailed information about the equipment and being able to compare models better helps buyers determine the value.
- Models and Features: Standard models tend to cost less and are often easier to sell than specialized pieces of equipment. Features and attachments can have a compelling effect on the selling price of equipment — either positive or negative.
- Age and Condition: The age and condition of used equipment are some of the biggest influences on price. Typically, the value of heavy equipment depreciates as it ages. Any piece of equipment, regardless of age, will not sell for a high price if it’s overall condition is poor. However, older equipment that’s been well-maintained or lightly used can still sell for a decent amount.
These are just a few of the following factors to check that can help you determine the value of used and certified heavy equipment, whether you are buying or selling. Remember, if you are selling or buying used heavy equipment, Heavy Equipment Seller is your number one resource. To learn more, visit our site today!