Spring is here and the countdown is on to get back on the jobsite. As you consider your upcoming projects, do you have the right resources in place? Does your fleet have extra equipment that you won’t need during the 2022 construction season? With the tight market we’re currently experiencing, here are three things to consider when selling used equipment.
1. Is your equipment making you money or costing you money?
Heavy equipment is expensive and can often take years to pay off. Be conscious of your fleet – if you have equipment sitting with no plans for use this year, it might be time to sell.
Further, do you have upcoming equipment maintenance and you aren’t sure those costs will be offset with the projects you have scheduled? If so, it may be time to sell before paying top-dollar on maintenance costs.
Now is a great time to move underutilized assets to maximize prime value. The market is at a peak due to low supply and high demand. Value is the highest it has been in a long time, but no one knows when that peak will fall. Companies and individuals looking to sell equipment this year are in prime position to move machines quickly and guaranteed to get a good price.
2. Could your resources be better invested?
Has your business changed? Maybe you have contracts for more commercial projects when you used to focus on residential clients. New scope of work often brings new equipment needs. When selling used equipment that no longer fits your business scope, you can take the net capital and reinvest in other resources you’ll use during this season – adding enhanced technology and machine control for existing equipment or using technology to reduce the machines needed to complete a job, hiring additional personnel, or simply having extra cash flow on hand to address unexpected situations.
3. What is the best method to sell?
You have choices when you want to sell your used equipment – to a dealer, at auction, or through a third-party transaction. No matter which method you choose, sellers need to have clear expectations on the details. Are you selling the equipment as-is, are there warranty considerations, is there an assurance plan in place?
At RDO Equipment Co., we purchase used equipment and offer a process that allows sellers a guaranteed price and final sale without the burden of managing multiple buyers or haggling. We do a complete evaluation, inspection and offer a fair price, based on the equipment’s condition.
Whether you choose a dealer, auction or third party, make sure each item of the sale is documented and clearly understood between the buyer and seller.
Make an informed decision
While spring is now adding more minutes of daylight and productivity to your days, now is the time to consider your options while managing your fleet.
Need parts to have onsite or to fulfill an immediate need? Search parts for sale and learn more about the convenience and ease of buying parts online with RDO.
Learn more about all parts, service, and technology support from RDO by contacting your local RDO Equipment Co. store.