Of course, you want two things – to sell your heavy duty equipment quickly, and you want the best price possible when it’s time to sell. That sounds pretty straightforward and simple, but we all know it isn’t always so easy. With all the available sales options and the constantly varying needs and demands of businesses, selling an equipment can become a complicated and time-consuming undertaking.
When it comes to buying heavy duty equipment, it’s essential to inspect the equipment thoroughly if you’re buying a used one. When buying a new heavy duty equipment, you can check out for the best dealer options in your locality who can give you what you need by paying a discounted price.
How you sell your heavy duty equipment should be given some careful consideration, as it can have a big impact on your bottom line when you consider how much time and money you can afford to spend on the process. Finding the right potential buyers is just one small piece of the puzzle. You also have to consider everything else involved, which includes, marketing, arranging inspections, negotiation, vetting legitimate offers, storage, insurance and other costs.
Taking the task on your own hands can eat up a lot of your time and effort. Thus, handing the task over to a third party can certainly save you time and effort, but there are pros and cons to all the different ways to sell heavy duty equipment. To help you make an informed decision, here’s an overview of the most common sales channels used for asset disposal:
To dispose any asset, private selling is perhaps the most common way, whether by contacting your personal network of equipment users, putting an ad in newspaper, or online listing site. Depending on the market conditions, your equipment sale can yield the returns you’re looking for. The best part in this type of selling or buying is that there’s no middle-man controlling the process or setting the price for you.
Selling privately can require a large investment of time and money. However, you can minimize your cost, risk and time-spent by choosing an industry-specific online listing service that’s secure, and lets you control the selling process.
Selling or Consigning to Equipment Dealers:
Certainly, there are advantages to selling your heavy duty equipment to a dealer or getting them to sell it for you. They understand the industry and know the market well. Dealers can showcase your equipment in a prime location that’s accessible to the public, but as a result often have high overhead costs they must compensate for. They are also open to trade-ins, however the value you can expect will generally be low given that the dealer has to turn a profit on your old equipment. They’re motivated to sell and can often offer buyers financing to help facilitate a sale. However, they won’t guarantee when your equipment will be sold or when you’ll receive payment.
Using their industry knowledge and connections, equipment brokers help to sell your heavy duty equipment, and use their experience in facilitating inspections, negotiating on behalf of both the buyer and seller, and ensuring the sale is concluded – all of which will save you time. But the commission rates and price you get for your equipment can vary greatly. They may or may not have a plan for marketing your equipment, and any costs associated with this can be charged to you. In addition, you’ll be responsible for your equipment’s storage, maintenance, insurance costs, and losses from depreciation while the broker finds potential buyers.
Once you decide the right sales channel for you – whether it’s a dealer, private sale or through a broker, you need to choose the right dealer, buyer or listing service. Different vendors and services have different levels of service, costs and experience. If you’re planning to buy or sell your heavy duty equipment, get in touch with our professionals who have enough experience and expertise, and our the best dealers of heavy duty equipment, trucks, trailers, agricultural equipment and attachment parts.