Heavy Equipment: The Ultimate Guide to Buying, Selling

Insight - 44 Min read

September 4, 2023

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Looking to navigate the world of heavy equipment? This guide is your compass. From heavy construction equipment to wheel tractor scrapers, we're unwrapping the how-to's biggest benefits of buying and selling industrial equipment. Construction sites buzz with the power of these giants, and we're here to ensure you make informed choices. Explore the intricacies of heavy equipment transactions, grasp the essentials of the market, and seize insights into maximizing value. Whether you're a seasoned pro or a newcomer, our breakdown of skid steer loaders and more will steer you toward success in the heavy equipment arena.

Assessing Your Needs: What Equipment Do You Require?

Before diving into the world of heavy machinery, start by defining your requirements. Analyze your upcoming construction projects to determine the specific types of heavy equipment needed. From a versatile compact track loader for agility on rough terrain to a heavy-duty dump truck for hauling materials, tailor your choices of heavy construction equipment to suit the demands of each construction site. Carry deck cranes offer exceptional lifting in tight spaces. By understanding your needs, you'll pave the way for successful equipment acquisitions and efficient construction operations.

Research and Selection

Explore various types of heavy equipment available. Investigate the benefits each machine offers for your projects. Dive into details about machinery like the carry deck crane and its capabilities. Analyze machines and their features, performance, cost, and compatibility with your job site's conditions.

New vs. Used: Weighing the Pros and Cons

Delve into the advantages and disadvantages of purchasing new or used heavy machinery. New equipment assures modern features and reliability, for example, while used options might save costs. Factor in your budget, the longevity needed, and the cost and availability of maintenance services. Your choice depends on the balance between initial investment and long-term benefits.

Inspecting for Quality: Essential Checks Before Purchase

Before diving into the world of heavy equipment, it's crucial to ensure you're getting quality. Start by examining the hydraulic lift system, a pivotal component. Check for leaks and smooth operation, ensuring seamless lifting of heavy worksite materials. Scrutinize the motor grader's condition, especially if it will tackle farming and landscaping projects. Don't overlook loose materials – ensure there's no residue, indicating efficient past use.

Pricing and Financing

Understanding pricing dynamics is key. Research the construction industry's market rates for equipment like boom lifts and asphalt pavers. Compare prices based on factors like model year and usage. As you finalize, consider financing options. Opt for the finance plans with interest rates that align with your budget, providing flexibility as you venture into projects that demand an asphalt paver to lay asphalt or a digging bucket to dig.

Selling Your Equipment

When the time comes to part ways with your heavy equipment, smart selling strategies are vital. Showcase the well-maintained hydraulic lift system and the machine's track record in managing heavy worksite materials. Highlight its role in construction, farming, and landscaping projects. Emphasize its value in enhancing efficiency, whether it's a motor grader or a boom lift. Utilize online platforms and industry connections for additional information and a seamless selling experience.

Maximizing Value: Maintenance and Upkeep for Resale

When it comes to heavy equipment, one of the most significant considerations is its resale value. Proper maintenance and upkeep play a crucial role in determining how much value your equipment retains when it's time to sell. Investing time, money, and resources in maintaining your equipment can significantly impact your ability to command a higher selling price when you decide to part ways with it. Here's how to maximize the value of your heavy equipment for resale:

1.  Regular Maintenance

Efficient heavy equipment operation starts with regular maintenance. Prioritize scheduled upkeep to ensure smooth functionality. Keep motor graders, smooth rollers, and more in top shape. Regular servicing prolongs equipment life and minimizes unexpected downtime.

2.  Record Keeping

Maintaining meticulous records is key. Document maintenance schedules, repairs, and part replacements. Accurate service records aid the dealer in assessing equipment performance, making informed decisions, closing costs, and demonstrating value when selling.

3.  Appearance Matters

Don't underestimate the impact of your house and presentation. Well-maintained equipment reflects professionalism. Whether it's a boom concrete pump, scissor lift, or others, a clean and cared-for appearance can enhance your house and resale value and attract potential buyers.

4.  Address Wear and Tear

Table of Contents
- Introduction
- Trends
- Types
- Specs
- Attachments
- Choosing a Dealer

Introduction

Today, excavators are state-of-the art, using hydraulic power with smaller turning radiuses for tight spaces and intuitive joystick commands. Industries such as construction, utility, public works, mining, demolition, forestry, and landscaping use them every day to dig the trenches, holes and foundations.

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The components of an excavator include:

[table]
Component, Description
Cab, This is where the operator sits and controls the machine through pedals and joysticks.
House, "The house contains the engine, oil and fuel cylinders. It is connected to the undercarriage with a cylindrical casket to enable 360 degree rotation."
Engine, The engine (typically diesel because of the amount of power needed) sits in the house and powers not only movement of the machine but also the hydraulics used to move the boom and attachments.
Undercarriage, The undercarriage has the gears and motor that facilitates movement of the machine over the ground.
Boom, This is the extension that connects to the bucket and other attachments.
Stick, "The stick connects the boom and the undercarriage, extending or retracting depended on the distance necessary to operate the boom and dig"
[/table]

Choosing the right excavator depends on many factors. Size, controls, and jobsite locations rank high on the list of things to consider.

Size
The size of an excavator will determine your digging depth and dig power. The industry refers to excavators in different size classes:

[table]
Operating Size, Terminology
0 - 6 Metric Tons, "Micro, Compact"
6 - 25 Metric Tons, "Mini, Construction Class"
25 - 40 Metric Tons, "Mini, Construction Class"
40 - 90 Metric Tons, "Large, Production Class"
[/table]

You want to purchase an excavator that will meet your job requirements – and nothing more. If you purchase one that provides a deeper depth and stronger power than you really need, you could be wasting money on extra costs for fuel and possibly transport in addition to the extra expenditure on the machine itself. Really think about the size that makes the most sense for your company now and the foreseeable future.

Controls
There are two main types of excavator controls. One is specified by the Society of Automotive Engineers (SAE), and the other is by the International Organization for Standardization (ISO).

The two controls are very similar with the biggest difference being that the controls for the boom arm and dipper arm are reversed. SAE controls are the preferred method in the U.S. It's important to know the difference, especially if you are considering buying a used excavator.

Jobsite locations
Where you are going to use the machine is a critical consideration. Tight spaces require smaller machines, for instance; however, you want to look into a machine that is small but still provides the power you need.

In addition, evaluate how deep you dig and the type of breakout force you will need to get through different materials. Differences in soil types can dictate what power you need, how deep you will go and what accessories you need to break through, remove or cultivate the finished product.

Cost
When it comes to excavators, one of the decisions you'll have to make is used or new. Depending on what you choose, the prices will vary. Prices range from $100,000 for a mini-excavator to $500,000 for a large excavator.

You also have the option to rent an excavator on a job-by-job basis. If you are not going to use the excavator for every job, renting as needed may be the most cost-efficient option. Most rental companies even offer delivery as well. You can rent an excavator for $2,000 to $10,000 a month, depending on the size and type of excavator.

Leasing an excavator allows you to get the type of excavator you need for a job, at a more affordable price and for a longer period of time. While rental prices are higher for the same time period, leasing holds you responsible for maintenance and transportation costs.

This purchasing guide will discuss the trends, types, and excavator specifications that will help you choose the best excavator for your job. It will also provide information about various attachments available and suggest questions you should ask when interviewing dealers.

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