Simple Tips for Selling Heavy Equipment and Trucks
If you are the owner of used heavy equipment, like most others, you surely want a high price for it. Purchasing any heavy equipment and maintaining it in the long run requires a significant outlay of cash. Therefore, there is nothing wrong in expecting a reasonable return on investment.
Whether you own one or a fleet of equipment, it always helps to have some expert opinion on selling heavy equipment. At K and G Machinery, we have years of experience in dealing with different types of heavy equipment. We understand every equipment, know the prospective equipment buyers, and can help you strike the best possible deal.
Summarised below are some simple tips that can make it much easier for you to sell your heavy equipment for a reasonable price.
- The first step is to ascertain the true value of your heavy equipment. This can be done by carrying out your homework and researching industry trends in equipment pricing for similar type of equipment. Establish your equipment’s price range using the most current information available. This will help you set realistic price expectation and negotiate confidently.
- Research different selling methods to figure out which selling method is best suited for your equipment and situation. If you want a good return from your equipment, educate yourself on the merits and demerits of selling methods such as equipment brokers, equipment dealers, private sale, auctions, etc.
- Though it may be tempting to do everything on your own, this would mean putting together a lot of time and effort. By seeking help from an expert, you can reach out to many potential buyers without spending much time or effort. This can be particularly useful if you are trying to sell your equipment in a region that has high supply or low demand for used equipment.
- The appearance of your used equipment can either attract or deter potential buyers. This is why it is important to show the value of your equipment properly. Heavy equipment refurbishing before selling it is a great idea. This can include painting, upholstery repair, glasswork, cleaning, decal replacement, and much more. This small investment can easily lead to big returns.
- You must maintain a high level of transparency while selling your old equipment. Provide detailed information and images of your equipment. Your images should document the present condition of the cab interior, engine compartment, undercarriage, etc. Please remember that buyers are always more comfortable and likely to purchase equipment that they can view and test first hand. Therefore, you should be able to accommodate prospective buyers for on-site inspections.
- Once you receive a good offer, make sure that the deal doesn’t fall through. Before accepting any offer, screen all potential buyers to verify their legitimacy.
- Finally, after selling a heavy equipment, none wants to wait too long for payment. Please remember that the equipment market can change in no time. Therefore, opt for a selling method that provides certainty of sale and prompt payment.
If you want to sell your equipment without any hassles whatsoever, please contact us immediately at K and G Machinery.