One of the most important decisions a company will make in any industry is to whether they buy new or used equipment for their company, none more so than in the construction sector, where the price of equipment can be very high. Of course companies do have the option of leasing equipment and plant hire has really grown over the last decade or with more and more companies entering the market.
Smaller companies prefer to buy second hand or used equipment as the capital investment is much lower. In addition to this the cost attached to second hand construction equipment is much lower. As long as the equipment has been well maintained then it is worth buying the second hand construction equipment.
In the first half of this decade when the economy was recovering from the economic downturn, many companies chose to buy second hand equipment over investing in new pieces of machinery, due to uncertainty on the economic climate. Companies were also looking at cost saving measures to try and keep cash in the business, rather than spending it on expensive equipment. However, the economy in the UK has shown signs of recovery and companies are starting to spend again.
While there are many advantages to buying new construction equipment, such as it will last longer. Also the equipment will also be under warranty for a number of years from the date you buy it, which may not be the case with second hand equipment.
For some companies it can still make more sense to buy second hand construction equipment. It means that you maybe able to access higher quality equipment at a lower price, than you would have if bought the machinery brand new.
Its important that if you do decide to buy second hand machinery that you have a detailed service history, so you are fully aware of any potential problems in the future. You should get the piece serviced regularly which will help cut down on costs in the future.
When researching where to buy second hand construction equipment it is important to research all of the different sources an only buy from reputable second hand sellers to avoid buying faulty equipment. You should also ask around for recommendations, that way you can find out whether a piece of equipment has lasted or not.
Above all whether you decide to buy brand new or second hand construction equipment its important that you have the correct insurance in place and you get it serviced often to ensure that it lasts as long as possible.