As the spring season approaches, many construction companies will soon begin to take a load of new projects. However, to take on more jobs requires the right and properly working equipment. Without large construction equipment, it would take companies much longer to complete projects, ultimately slowing down their operations.
Unexpected breakdowns or damages to your equipment is one of the leading factors that causes construction companies to fall behind on their projects. When equipment breakdowns occur, companies are left with two options: either repair that piece of equipment, or replace it with a new or used model.
At Lyon Auction, we provide large construction equipment auctions across the entire United States.. Our auctions are a great opportunity to purchase the equipment your company needs at a great price. Our team understands that heavy equipment does not last forever, and that the smallest breakdown leads to costly delays. When you run into damages and breakdowns with your equipment, be sure to consider these factors to decide whether you should just repair or completely replace your damaged equipment.
New technology
Old equipment doesn’t have the same advanced technology as new ones; thus, you may consider replacing to get better technology. Although equipment with newer technology may be more expensive, they do offer many great benefits to make your job easier. With new technology, your business operations become more efficient.
Warranty terms
All heavy equipment comes with a warranty that covers the majority of your equipment’s maintenance costs. Before replacing or repairing, check the status of your warranty to cut down on costs. However, if your warranty has expired, your supplier won’t pay for any damages.
Costs
The cost of repairing or replacing your heavy equipment plays a vital role in what you will decide to do. If the value of repairing doesn’t exceed the cost of replacement by half, it is wise to repair the machine. Unfortunately, maintaining old heavy equipment can be more expensive than buying a new one. Older equipment is prone to more frequent breakdowns, making companies perform more regular maintenance to try and avoid down time. However, if your equipment damages are minor, repairing and maintaining may be the cheaper options also, especially in newer machines.
When looking at the costs between repairing and replacing, give our team a call today! We are happy to help answer any questions you may have.
Efficiency
Lastly, when deciding whether to repair or replace, consider how efficient your machine has been throughout the past year. Sometimes, machines will slow down as they become older, which can result in jobs taking longer than they used to. If you have noticed that your machines have been running slower for some time, and become even more damaged, then it’s a good indicator to replace that piece of equipment all together.
Unexpected breakdowns will occur from time to time, and deciding how to repair or replace your equipment can be a difficult decision. When you run into this situation, be sure to consider these factors before making a final decision.
Looking to buy or sell used large construction equipment? Check out our upcoming auctions to see which auction date works best for you!
