When you need to buy heavy machinery for your business you should look at all of your buying options so you get exactly what you need at a price you can afford. A new business in need of heavy machinery may have different needs than an existing business looking to upgrade or expand. Considering all of your financing and purchasing options carefully may save you valuable time and money.
When you lease heavy machinery you make monthly payments to the owner of the machinery in exchange for using it. This is a practical option is you do not have a down payment or you do not want to put anything up for collateral. There are many benefits to leasing heavy equipment including maintenance coverage, easy upgrades, improved cash flow, and tax deductions.
If you plan on being in business for a long time and the equipment you need won’t become obsolete quickly than a loan may be right for you. Loans are good for businesses that have a large amount of capital available for a down payment or collateral they are willing to put up like a house, other heavy machinery or other valuable property. When buying machinery with a loan it is important to factor in repair and maintenance costs because unlike leasing, you will be responsible for repair and maintenance.
Whether you plan on leasing or taking out a loan to purchase heavy machinery you may want to consider purchasing it from an auction. Many auctions are now online and give buyers quite a few advantages. You can easily search for specific, specialized machinery and compare the machinery you want to buy with several other units available for sale. You can also look at machinery all over the world without having to travel to look at it. Many auctions include pictures and very specific descriptions of the machinery. Time spent on buying machinery can be cut down drastically when you don’t have to travel to check it out.
Another advantage of online auction is that many auctions allow you to automatically increase your bid over any counter bid up to the maximum amount you want to spend. This means you don’t even have to wait by the computer to bid on what you want. After the sale is completed the auction company will generally take care of the details including transfer of funds and titles and transportation arrangements. Auctions provide a convenient and speedy way to purchase needed heavy machinery.
The top 5 pieces of heavy machinery
1. Skid-steer loader
The skid-steer loader is the most popular unit of heavy machinery on the market today. It is considered to be the most popular because it is the largest unit of heavy machinery sold and more skid-steer loaders are currently in operation than any other unit of heavy machinery. They are easy to maintain, cheap to buy and they are efficient on fuel use. Skid-steer loaders are sometimes used instead of a large excavator by digging a hole from the inside. The first thing a skid-steer loader digs a ramp then uses the ramp to carry material out of the hole. This is very useful when construction includes digging under a structure with existing structures overhead.
Bulldozers are the next most popular unit of heavy equipment because they can be used for many different operations. They are used in road construction, land clearing, commercial and industrial development, dam building and agriculture. Bulldozers are capable of pushing large quantities of soil, rocks, sand and rubble.
3. Mobile Cranes
Mobile cranes are essential to almost all construction sites. They are used to transport heavy loads throughout the construction site. There are many types of mobile cranes including the truck-mounted crane, rough terrain crane, floating crane and crawler crane.
Also known as a back, an excavator is used for digging and for moving large amounts of soil. The excavator has a two-part articulated arm with a digging bucket attached to the end so it is widely used on construction sites for all sorts of purposes. Some excavator uses include digging trenches, mining, river dredging, forestry work, material handling, demolition, and heavy lifting.
5. Wheel tractor-scraper
The wheel tractor-scraper is used for earthmoving. It is commonly used in work sites like mines because they are very efficient for moving material back and forth quickly.
Heavy Equipment Manufacturers and Providers
Cat Heavy Equipment www.cat.com
Cat Heavy Equipment provides numerous forms of heavy equipment including units like hydraulic excavators, articulated trucks, wheel dozers and many others. Cat Heavy Equipment also provides protection on many of their units. The Tier 4 Equipment Protection Plan includes no-cost powertrain coverage for three years of 5,000 hours.
Rock & Dirt – The Equipment Marketplace rockanddirt.com/equipment-for-sale
Rock & Dirt- The Equipment Marketplace offers new and used heavy equipment for sale and rental. They have been selling heavy equipment since 1950 and they offer over 75 different types of heavy equipment.
Hertz Equipment Rental hertzequipment.com
Hertz Equipment Rental has a very large range of heavy equipment. The have options for sale and rental of their heavy equipment units. Hertz Equipment Rental provides online options to help customers manage their accounts online making it easier to purchase heavy equipment.
Iron Planet ironplanet.com/
Iron Planet sells heavy equipment online. They are the leading online marketplace for used heavy equipment. Iron Planet sells heavy equipment units for construction needs, agriculture needs and much more. Iron Planet is backed by Accel Partners, Kleiner Perkins Caulfield Byers, Caterpillar, Komatsu and Volvo.
AuctionTime.com is an online auction company. They bring together buyers and sellers and help move machinery at affordable rates. There are no buyers fees ever and sellers pay a low flat fee. They provide access to listings twenty-four hours a day, seven days a week and anywhere in the world.
Chris Fuller went to the University of South Florida and has worked in the financial sector for over 20 years. He has extensive experience in all aspects of personal and small business lending, from personal loans, equipment finance to cash flow based solutions for small mom and pop businesses, and large corporations.