Efficiently managing your most expensive assets is critical to the success of businesses that utilize heavy equipment. Part of this is knowing what to do when you no longer need a machine or are ready for an upgrade. The good news is you have a lot of options in addition to selling your used construction equipment to maximize your cash flow and get the most significant return on your investment.
If you are ready to move some of the older machines in your fleet, consider these ideas on what to do with your used equipment.
- Trade it in:Perhaps the easiest way to recoup value on a piece of equipment is to trade it in with the dealer. This method is a viable option if you are shopping for a new machine and are ready to make a purchase. The downside of trading in construction equipment is you likely will not get as much cash back as you would by selling it yourself, but you also save a lot of time listing and showing it to prospective buyers.
- Put it on consignment:Striking an agreement with a used construction dealer has many advantages. These guys have already established a market for the products they’re listing and have the knowledge and skills to make the sale. Used equipment consignment also helps you move your machines off the lot to create additional storage space or free up funds for other priorities. there’s no guarantee the piece will sell and when, but in general it usually offers faster sales then listing it yourself. Buyers are often more comfortable working with an established dealer.
- Sell it privately: Just like it is with preowned cars or trucks, privately selling your used construction equipment is among the most common ways to go. Selling machines can be time-consuming and work-intensive and typically take longer then consignment. Smart tactics you can utilize are to list online on the most popular websites for used machines, contacting your network of equipment users and putting up a sign where you store your fleet. You may even be able to establish an ongoing relationship with a few reliable buyers that are frequently looking for used equipment.
Whether you are interested in trading in construction equipment or want to sell it used, NMC Cat is a local dealer with broad capabilities. Our knowledgeable team will work with you to find the solution for selling your used construction equipment that’s best for your business. Contact us today for additional details.