How to Buy Used Equipment

How to Buy Used Equipment

Whether you own a small enterprise or run a big company, you are constantly looking for ways to cut down on business expenses while maximizing your revenue. And one of the ways to do this is to invest in good quality second-hand industrial or commercial equipment at a low cost. To ensure that you make the right purchasing decision, here are a few things that you need to consider:

The reputation of the seller

Nowadays, thanks to the internet, you can find literally anything you want on the web. However, with so many sellers online, you should expect there to be a few bad apples. Not everyone will have good intentions. Before spending your hard-earned cash, you need to do some proper research. You definitely don’t want to end up with a piece of equipment that is too weary to function properly, has some parts missing, or is already past its service life.

Make sure to check websites and public records dedicated to consumer problems. Also, check the seller’s website and other relevant sites for customer reviews to know what to expect from the company. Don’t forget to search the Better Business Bureau to find out whether the company is a member of any trade organizations. Surplus Network is very reliable and trustworthy for providing affordable equipment.

The condition of the equipment

Different types of equipment are built differently. For instance, things like stamping tools can withstand years of abuse without requiring any major repairs. On the other hand, something like printers and other office equipment typically has a useful service life of two to four years. This means that if the piece of equipment you are looking to buy is older than this, it won’t offer you a lot of value even if it comes at a good price.

So, whether or not you find a good deal on a piece of equipment will depend on the type of equipment. In the case of stamping tools, when purchased and used, they may only require a simple tune-up and nameplate replacement.

Nameplates are vital as they contain equipment data, safety warnings, as well as other important information. Go for a heavy-duty brand that will withstand years of use as well as harsh warehouse conditions.

Whether you can physically inspect the equipment

Before giving out your money, it is always safer to first see the machinery in person to know exactly what you are getting. Avoid any seller who insists that you make any upfront payment before viewing it. Seeing the machine in action helps you to better assess its capabilities.

Whether the equipment has a clear title

Some types of equipment, especially heavy machinery, are titled. When buying this type of equipment, it is always crucial to check its own history to ensure that you are buying stolen equipment. When buying a non-titled piece of equipment, make sure to ask for proof of purchase in addition to proof that the original loan has a zero balance. Keep in mind that the title can’t be transferred if the seller still owes money.

Where to purchase business equipment

When it comes to buying industrial machinery and some types of office equipment, it is always a smart move to be on the lookout for similar local businesses that are going out of business. For all others, you can consider sites like eBay, Amazon, and Aucto. Also, research companies that broker these types of transactions. If you are in the search for used restaurant equipment, Gator Chef suggests signing up for a dealer email list.

Finding Help

You will most likely need some expert assistance installing or operating your purchased equipment. Here are some professionals that can help:

  • An IT professional can build and install hardware for computer systems
  • A warehouse manager knows how to use warehouse equipment effectively and efficiently 
  • An electrical engineer has a lot of expertise in everything from electrical motos to communication systems including consumer electronics, robots, and computers. While a more experienced engineer will command a higher fee, they have more-specialized areas of expertise, can work faster, and deliver higher-quality work. On the other hand, a contractor still trying to establish themselves will be more affordable.

It is also important that you utilize a time-tracking and payroll system for your construction crew. This not only helps to ensure that everyone is paid on time but also promotes accountability and makes it much easier to more accurately approximate project costs. Your staff also gets the added benefit of being able to track their time and compensation via a mobile app.

Depending on your needs and budget, buying used equipment might be the best option for you. However, it is important to note that it comes with some risks. It is thus important that you do your homework to get the best deal possible. Again, check the seller’s reputation, inspect the machinery, and check its ownership history!