Heavy machinery is essential to any construction site as it performs complex tasks that humans can’t execute. They lead to increased production and yield accurate and precise results; and as a result, when they breakdown, it can adversely affect your business.
Your machinery may become less productive and breakdown more frequently at the end of its lifespan. If your machinery is damaged, you will have to decide between repairing and replacing. A good place to start researching your options is machinery auctions near me.
It can be difficult to know when it is time for new machinery or to get a repair. Repairing may be relatively cheaper in the beginning, but it can cost you a lot in the future if your equipment continues to break down. Before you decide what you want to do, here are some things to keep in mind.
1. New technology
Old equipment doesn’t have the same advanced technology as new ones; thus, you may consider replacing it with better technology. With new technology, your business operations are more efficient and fast.
2. Warranty term
All heavy machinery 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 caused. In this case, it might be better to purchase new or used from a machinery auction near me!
3. 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. This factor relies on the cash flow status of your construction site. For instance, can your company cover the costs of taxes, fuel usage and maintenance of new heavy equipment?
Unfortunately, maintaining old heavy equipment is more expensive than buying a new one. In this case, simply buying from a machinery auction near me will save time and money. Auctions have high-quality, brand name equipment for a reduced price!
4. Speed
Your heavy equipment may be slowing down your production rate leading to losses and setbacks in the business. Consider acquiring new equipment to speed up your production process as they are fast, efficient and operate smoothly
If you are unable to attend a machinery auction near me in person, check out their online bidding options! If your days are busy on the construction site, you can make bids from your phone at any time! Be sure you read the rules and do your research before bidding.
Alex Lyon and Son is an auction company of America that sells quality large equipment in-person and online! During these times, We are also practicing social distancing by using proxy-bids and making sure all equipment is clean and disinfected. Contact us today for our auction calendar.
