Thursday October 8, 2020

Buying Used Construction Equipment: Pros & Cons

buying new vs used construction equipment

High-quality equipment is key to the success of a construction company — and it’s one of their primary expenses. That’s why shopping for new construction equipment can often be a balancing act between managing your budget and guaranteeing quality. Buying used construction equipment is a popular choice to avoid paying a premium price for new equipment as well as to enjoy a few other key benefits. In today’s blog, we’re highlighting the pros and cons of buying used.

At PowerPro, we sell a wide range of new and used heavy equipment, including telehandlers, masonry mules, mobile scaffolding, and MEWPs. As a large power equipment dealer, we proudly sell leading heavy equipment brands including Pettibone, Mule, and Hydro Mobile. Read our latest blog to dig into the benefits and possible downsides of buying used construction equipment. However, if you’d rather talk to an expert and get prices, reach out right now!

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Benefits of New vs Used Heavy Equipment

Since we both sell and rent a wide range of new and used construction equipment, we’re in a position to give you an unbiased look at the benefits of each. Here’s what to expect with new and used heavy equipment:

New Heavy Equipment

  1. You Get the Warranty — Like we said earlier, buying new vs used heavy equipment is primarily a financial decision. And this is a major financial reason to buy new: new equipment is protected by a manufacturer’s warranty — which keeps you protected from a surprise repair shop bill. The warranty on a used piece of equipment typically doesn’t transfer owner-to-owner, so if it breaks down, the repairs are on you.
  2. Less Issues — Time is money, and disruption from your supposedly good equipment costs you precious time. While you can buy quality used heavy equipment with confidence, they are still more likely to have issues. This proves especially true if you buy bottom-of-the-barrel equipment to get the lowest possible price.
  3. Better Payment Options — Unless you’re paying cash for the machines, this is important to keep in mind. You’ll get more competitive interest rates on financing for new equipment rather than when buying used construction equipment. This is largely because equipment dealers subsidize rates.
  4. You Have the Latest Technology — Not only will new equipment run extremely well, but the newer models can potentially be required for your project. This is because ANSE regulations can change, potentially meaning older equipment is no longer jobsite acceptable.
  5. Maintenance is Included — Depending on what and where you buy, key maintenance can be included in the purchase of new units.
  6. Upfront Price Will Be Higher — No surprise here. New equipment will always come with a higher sticker price.

Used Heavy Equipment

  1. Potentially Large Savings — Depending on what you buy and the lifespan it has left, you can expect to save about 50% when buying used construction equipment.
  2. Look for Dealer Maintenance — You can mitigate the potential risk that comes from used heavy equipment by ensuring the unit you buy has dealer repair and maintenance records. This is something we offer with our used inventory.
  3. You Can Match Models You Already Own — Depending on supply, you can buy a model that’s already in your fleet. This is a benefit of buying used that you can’t get any other way. Not only will your crews already be very familiar with the model, but you can use the same parts you already stock.
  4. New Machines May Have Less Horsepower — Since diesel exhaust regulations are changing, the horsepower from new machines will often be less than the older models. By purchasing used equipment, you can get a machine built before those regulations came into effect.
  5. Potential for Poor Quality — The main risk of buying used is the potential to spend a large sum of money on a machine that doesn’t have much life or power left. Even a 50% savings on a piece of equipment that needs massive repairs isn’t a win. You can mitigate these risks by shopping from a local and reputable source like PowerPro.

What Sets PowerPro Apart?

used heavy equipment

Depending on where you shop, buying used construction equipment can be a risky proposition. At PowerPro, we make sure that’s not the case. Before you buy anything from our used inventory, we recommend having your mechanic inspect it and having your operator come run it.

Another reason to trust PowerPro is that we’re an established company with decades in the field — not an online equipment wholesaler. We are a well-reviewed, well-respected local company that treats all of our customers fairly!

Buying New & Used Construction Equipment Starts with a Conversation

Acquiring construction equipment is a huge investment, which is why you want to make sure whatever you purchase is right for your business and budget. Whether you’re interested in our inventory of new pieces — or you want to talk about buying used construction equipment — a conversation is the first step. Reach out to our team today to discuss your equipment needs and to see what we have in stock!

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