If you are in the construction industry, the benefits of buying used plant equipment cannot be underestimated. They can literally make the difference between building up your company to last or risk it collapsing (with no heavy machinery required). The benefits of used plant equipment include:
Smaller financial outlay and risk
Unlike buying new plant equipment at considerable financial outlay, used plant equipment is kinder on your bank balance. This helps to keep your account in the black and improves cash flow. Keeping a steady cash flow is one of the main reasons successful businesses stay in business, and buying used plant equipment helps to keep your books and cash flow balanced.
No waiting around
Buying new may entail waiting for your piece of plant equipment to be manufactured for you. This could mean a costly delay in jobs and projects where you need it.
The benefit of used equipment is that it is in stock and available as soon as it can be delivered or collected and can start paying for itself right away.
Lower insurance costs
Because insurance premiums are generally based on what it would cost to replace your piece of plant equipment, the cost of coverage for used compared to new plant machinery will be significantly cheaper.
The cost of new plant equipment has increased over the past few years, however, you don’t have to sacrifice quality simply because you buy plant equipment that has been previously owned. Well maintained, quality equipment can provide reliable service for years – literally saving you thousands of pounds.
Bigger appreciation value
Buying a shiny new digger may be appealing to many building site owners but the shine can soon wear off – both literally and figuratively! As well as the initial financial outlay, there is the factor of depreciation to consider. This can be considerable within a relatively short period of time; between 20-40 per cent in the first year. This means that it is actually possible for you to owe more than it is worth if you need to sell it on after the first year of ownership.
On the other hand, when buying a quality used digger, you have a smaller financial outlay and a machine that will hold its value for longer. This is because that initial depreciation from new has already taken place!
Stable sell on value
It may have a few scratches, but the quality level remains consistently high for a longer amount of time. And, this will reflect in the sell on value as long as the plant equipment is properly maintained. The need to use and buy different equipment can change according to seasons and job sheets. So, there should be no problem in getting a good price for second-hand machines such as used telescopic handlers on a website where a full range of used plant machinery is available to buy and sell including compaction equipment, cranes, dump trucks, excavators and more.
Lower costs of ownership
Since used equipment holds its value, you can afford to buy it for special jobs if needed and then sell to recoup the cost. You can even recoup the running costs for tax purposes.
Use second-hand land equipment to help build your business better
The savings you make from buying used plant machinery could be put toward such things as attachments, maintenance costs for your fleet or the cost of buying an additional piece of machinery. Essentially, saving money on your plant equipment by purchasing used could mean you could help build your business without worrying about how much your machinery is depreciating.