Buying & Selling Used Machinery

Equipment of a brewery. The crane for fresh cold beer.Great news! After putting your nose to the grindstone your business is taking off – you’re in a position to expand your operation. Expansion is great, but with growth comes additional expense. So, before you place that order for brand new machinery, vehicles and equipment, be sure to explore the used machinery market. Not only does pre-owned machinery come at a reduced cost, it’s often in very good working order that allows you to continue your expansion without breaking the bank.

As with any large business purchase, there are certain items you should watch out for when perusing the used machinery market.

Do Your Homework
Do a little background checking on the company or individual selling the machinery you’re looking to buy. If you have colleagues in the same industry it never hurts to ask for referrals. It’s also smart to ask for any references the seller might be able to provide.

Kick the Tires
If you’ve found the machinery you’re looking for locally, go and check it out in person. If you’re not able to inspect the equipment in person, ask that the seller provide video or other proof of the item you want being put through its paces.

Guarantees
Does the machinery for sale come with any guarantees or warranties? If buying from a dealer, did they they perform any type of inspection to verify condition? Never feel bad about asking for additional documentation if the seller makes claims regarding warranties or guarantees of any type.

Are Batteries Included?
Used machinery can sometimes be used as an in-house salvage yard for other machinery, so be sure to verify that all components and pieces are present. If you’re buying direct from the previous owner, ask about how the equipment was used and how long it’s been idle. These can be good clues as to how the item was used once it was replaced.

Regardless of your final decision when it comes to purchasing used machinery, it’s always smart to protect yourself as much as possible from misrepresentation. The easiest way to do so is through the use of an online escrow company that will hold your funds safely until you’ve had a chance to verify the machinery is as advertised. Short of that, be sure to ask the seller about any return or money-back policies they may have in place. And, as always, if something seems to good to be true it probably is.

Advertisements

6 comments

  1. […] sure to check out this post for additional tips on buying and selling used machinery as well as additional information when it comes to private treaty livestock […]

  2. Buying and selling used machines gets great demand by many people. Large machines in large industries usually have fairly expensive price. What’s wrong with buying a used machine that still has good condition, in addition, the price is cheap. This savings!

  3. Wanted to sell my old SUV from college since my daughter refused to use it. My friend suggested Joliet-U-Pull-It and I was very satisfied! the process was easy and the workers were friendly. I’ll definitely be recommending them to anyone looking to sell an old car! Oh and they have a helpful website too! http://jolietupullit.com/

  4. […] sure to check out our earlier post on buying and selling used machinery for more tips on negotiating your next machinery or equipment […]

  5. […] expand while still being mindful of your overall budget. For more info, see our previous posts on buying and selling used machinery and calculating the actual cost of any machinery […]

  6. […] For more tips on buying items on the secondary market, check out our used car checklist, and how to’s on buying and selling used machinery. […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: