1. Understand your requirements
When it comes to buying machinery, you need to have clearly defined objectives. This will help you to know exactly what to buy. Having prior knowledge and experience with the brand you are looking to buy will make things much easier, especially if you have an in-house team that is familiar with the brand.
However, if you are looking to switch brands, are new to the industry, or don’t know what type of machine to get for your operation, it is advisable that you seek professional advice. Used machinery dealers can provide a lot of useful advice when looking for a machine to buy as they are familiar with different brands and models.
They are well acquainted with all the latest developments in the industry, and also have a good knowledge of the performance of old models, the availability of spare parts, and how to tell a good investment from a bad investment.
2. Come up with your budget
Ultimately, your budget will determine the brand and exact model type that you can get, in addition to the age and condition of the machine. You need to have a clear understanding of all the costs and expenses associated with your purchase of surplus equipment.
Some of these costs include the cost of shipping the machine to your factory; the cost of acquiring additional space to set up the machinery, if needed; the cost of dissembling and reassembling the machine; as well as the cost of making necessary upgrades. In many cases, there is a direct link between the price, brand, and condition of the machine.
To secure a great deal, you need to stay alert and act quickly whenever one arises. Thus, you need to be flexible with your time. However, the prices set during equipment sales are often determined by supply and demand and factors such as depreciation.
3. Time your purchase right
When it comes to buying used machinery, your timing matters. Once you’ve found the machine you want, you need to act quickly since certain types, brands, and models of machines are unique and scarce. Also, undertaking the purchase process when you are not busy with other matters increases your chances of securing a great deal.
Keep in mind that finding bargains for certain types of machines is not easy since demand often exceeds the supply and good deals tend to disappear as quickly as they appear.
4. Use a used machinery trader to get access to better machines and a wider variety of machines
The machinery market is a huge international market involving buyers and sellers from around the globe. This makes it more complicated for the average buyer to sort out the best deals in terms of cost and quality. And this is where brokers come into the picture.
A well-established brokerage firm will provide you with multiple options and advise you on the best used piece of equipment for your specific needs. They will give you access to equipment that would have been otherwise difficult to find on your own.
5. Do a visual inspection
This is one of the most important steps when looking to buy used machinery. Through the internet, it has become easy for people from all over the world to communicate and conduct business online. However, as far as buying used equipment is concerned, physically inspecting the equipment you are about to buy is crucial.
Regardless of what the seller claims, you need to know exactly what you are getting. Insist on visually inspecting the machine and doing a test run to gauge the state and performance of the machine. Look out for any signs of poor health such as unusual noises and vibrations. Check the maintenance records to find out how well and frequently the machine was maintained over the years.
Viewing the machine at its original factory will allow you to find out the type of setting it has been used in, know the people that were handling it, and better understand how it functions. Even better, you can arrange for a professional evaluation by a technician from the brand. MachinePoint takes the step to accompany potential buyers to do an inspection of the machine and run through the checklist.
6. Figure out all final costs
Do not forget to factor in the costs of dissembling, transporting, and installing the machine and also the costs of any upgrades that may be needed. These expenses can significantly influence the final price of the transaction.
7. Use a company that offers all the necessary services
It will be wise to work with a used equipment dealer that provides all the necessary services including dismantling, packing, and loading of the machinery. This will help to save you a lot of costs and unnecessary risks. It is very important that all phases of the process are done correctly to ensure the proper functioning of the machine.
Considering that you may not have such types of contacts in the country where the machine is, you will need a company to assist you with this. Select a used equipment trader that also deals with international machinery transportation.
