Image link: Anamul Rezwan Meta-description: Buying used heavy equipment is usually the option for companies especially if it’s only to be used for a few projects only. Are you looking for ways how to properly purchase used machinery? Learn some buying tips here. 5 Best Ways to Buy Used Heavy Equipment Machinery How to purchase used heavy machinery? This is the question for anyone looking to buy machinery at a budget-friendly price. Getting needed equipment for a low price is, after all, a steal. However, buying so will likely make you lose money later on if the buyers are not careful. The risks outweighing the reward will always be there, but with a little effort, you can avoid common buying pitfalls. So, here are 5 tips on the best ways to buy used heavy machinery: 1. Evaluate the supplier As scams nowadays are difficult to detect, finding the right supplier that offers used heavy machinery is tricky. While scammers try to find ways to mask their deceit, do this to spot legitimate suppliers: ● Find Public Company Records Well-established companies with a long history are the best ones to start. Publicly-traded companies have to publish financial statements. Seeing their stability in maintaining a long-term business is a good indicator of legitimacy. ● Get online reviews If looking to buy from a website, spend a few minutes finding customer reviews. While some are biased, there are reviews to verify the performance of a business. Feedbacks or testimonials show the integrity of a company. Quality suppliers will have recent customers who are more than willing to endorse the seller. If none are on the website of the company, contact their management if they can provide information about customers near you. ● Visit the Better Business Bureau Better Business Bureau (bbb.org in Canada) maintains a list of businesses with their contact information and customer complaints. Visit the site and search for companies in your area that you consider doing business with. It is also highly recommended to send someone knowledgeable to check the products personally and to know the seller better. 2. Run a background check There are 2 things to watch for before purchasing and avoiding stolen equipment. When buying from a business, ask if it is owned entirely by the seller. Verify the information they gave you. If buying from a private seller, ask them for the original sales invoice and see if the sales invoice matches the seller's name. Check for ownership using the serial number of the equipment or its VIN. Contact the local police department to run the numbers if it was ever listed or reported as stolen. 3. Inspect the machine before buying Used machinery has the benefit of being cheaper than brand new equipment. However, anything posted online can have insufficient information. While other used machine dealers find creative ways to sell their wares, the worst traders will use paint and spare parts to pretty up the exteriors of the equipment. Some may even place additional equipment, such as a forklift rear post from Toronto on their used forklift. Therefore, setting up the right strategy for the purchasing process is a must. If possible, test the equipment before you buy. If you do not have considerable knowledge to perform a safety inspection, best hire a safety consultant from London to avoid putting you or your employees at risk. 4. Pay attention to red flags Phrases like "3 other people wanted this machine too" or “you can never get this bargain anywhere else" are done to reel you in for impulse buying. Not only is it a business tactic, but a trick on selling you an underperforming machine to scam you of your money. See to it that the seller has the right contacts and does not pressure you. Avoid sellers who only have a mobile number and e-mail, but lack visibility on Google maps or having the supplier request a down payment before the inspection. 5. Ask for proof of purchase Purchases online or from private sellers require some proof to avoid unforeseen situations, such as damages or a lost package. Always ask for a receipt, invoice, or other documentation presenting you as the owner of the equipment. Avoid paying in cash. Preferably, pay with certified checks to help prove that you paid for it. To know if the used-heavy equipment is still subject to value-added tax, better consult with an expert on VAT services from Malta or nearby firms. Doing so will help you avoid a padded price used by unscrupulous sellers. Taking precautionary steps is fundamental, especially in buying used. You get to avoid the risks and reap the full benefits of the purchase and one of them is at a fraction of the cost of new equipment. After all, a piece of used heavy machinery is just as valuable as a new one.
