Benefits of Buying Used Construction Equipment

Posted by IronPlanet on Nov 4, 2012 11:14:00 PM

The American economy has emerged from the recession, yet when the nation as a whole is on the mend, the recovery is slow-going for many. The construction industry has seen increases in new housing starts and the development of business and government construction projects, which has improved conditions for plenty of businesses and contractors. While new projects are coming in, many companies may still be recovering financially. Those that are in need of construction equipment to complete new jobs may want to consider buying used equipment.

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IronPlanet auctions off a wide selection of construction equipment, parts, tools and vehicles, giving buyers plenty of options. Many of the listings are accompanied by IronClad Assurance and full inspection reports that allow buyers to get a clear picture of the goods they're bidding on. The inspection report includes information about any visible damage, how the machinery runs and even fluid analysis data, so there are no surprises when buyers purchase used equipment through IronPlanet's Featured Auctions or Daily Marketplace.

Should a company have equipment they do not need, they can always consider selling their inventory through IronPlanet. This will help to maximize profits and make space for any newly purchased replacement equipment. When replacing used items with similar equipment, sellers may be able to defer income taxes on the goods they sell, leaving them with even more funds to purchase new items.

Even as the construction industry continues to grow across the nation, new equipment sales are still low. According to Time magazine, Caterpillar, a leading worldwide manufacturer of mining and construction equipment, is reducing production on new goods. This is because dealers are ordering less inventory than their customers are buying, which could present an issue for companies and other buyers in need of certain machinery. The news source indicates that dealers are ordering less than their customers are buying. This could create an increased demand for certain new items, potentially driving up the purchase price.

Used equipment could be a better option from a financial standpoint. Those in need of certain items may be able to find what they want for less if they buy used rather than new. In many instances, the used goods could run like new. IronPlanet ensures that what buyers see is what they'll get, with inspection reports that are made available free of charge so they can place bids with confidence.

Topics: Construction