Excavators are invaluable machines on construction sites, demolition projects, and excavation jobs. Their versatility with attachments like buckets and breakers allows them to dig holes, trench, hammer, crush material, lift, and place heavy objects with ease. While buying a brand new latest model excavator has its advantages, purchasing a used, older model excavator means massive cost savings.
Lower upfront costs
The most obvious perk of buying used is the huge difference in purchase price compared to new. With used equipment, there’s often more room for negotiating prices as well. While brand-new equipment ordering means paying set retail costs, you may be able to talk down a used excavator’s price further depending on age, hours, condition, etc. Just be sure to have a trusted mechanic inspect it first.
Faster depreciation on new models
Brand-new heavy equipment like excavators depreciate extremely quickly in their first few years. They lose 20-25% of value just in their first 12 months. Then 10-15% each following year. By purchasing a used, older unit, you skip most of that steep initial depreciation curve. The used excavator has already taken most of the depreciation hit on someone else’s watch. It means you get more value for money upfront and waste less on rapid depreciation.
Aftermarket parts availability
When it comes to repairs and replacement parts, used excavators have the upper hand too. Since they’ve been around for a while, there is greater availability of cheap aftermarket and off-brand parts to keep costs down. With newer models, you often have to go straight to the dealer for parts and repairs, which is quite expensive. With used equipment, you source quality generic parts for much less. It makes a big difference if you need to replace a component.
Stronger negotiating position
When dealing with used equipment and private sellers, you are in a much stronger negotiating position as a buyer. There is greater motivation on the seller’s side to move the used unit and free up capital. You leverage this to negotiate better pricing, terms, and warranties. With new equipment, the dealer has little incentive to negotiate since demand is high. Go used, and you’ve got more leverage.
Lower registration/permit fees
The requirements and fees to legally register and permit an excavator for use vary by location. In many areas, costs are based on factors like purchase price, weight, age, etc. Since used excavators have lower purchase costs and are typically older units, registration, and permitting fees can often be lower, when compared to new models. Every little bit helps when trying to maximize savings.
Depending on your state’s tax laws, buying used may mean paying little to no sales tax on your excavator purchase. If you buy privately through an individual rather than a dealer, you sometimes avoid sales tax altogether. With a new unit, you must pay state sales tax, which adds up to thousands. Keep more money in your pocket by researching sales tax laws and buying used privately if possible. Buying smart with used heavy equipment is a great way to maximize your investment, capabilities, and savings over the long run. If you have a peek at this web-site to gain further insights.