Contractors and other construction equipment buyers are always looking for ways to gain advantages in a competitive economy. Key factors in any equipment purchase decision are well known: cost, reliability, durability, power, brand, and resale value, among others. In a new IronIntelligence Report, we suggest a careful study of five often-overlooked factors before making an equipment purchase.
- Pricing with No Middleman — The more layers involved in getting equipment from the factory to the job site, the higher the cost. Look for suppliers with a different business model that cuts out the middleman. Savings can easily range from 20 to 40 percent.
- Extensive Support — Service and after-sales support can be as important as the equipment itself. How quickly can parts be acquired if a machine goes down? Will the supplier guarantee delivery? Take a look at machine warranty. Is your machine covered only for key components, or the full machine? Look for a provider that offers flexibility for warranty repairs, allowing customers to select their repair outlet, or do the work themselves.
- Online Ordering — The convenience of doing product research and ordering online is moving into the world of heavy equipment. And why not? The internet makes it easy to access equipment features, pricing, specifications, photographs, video clips, and more. The right supplier will deliver information and an online platform to order everything from full machines to parts.
- Equipment Management — To get the most from your equipment, you want tools that make it easy to manage fleet assets, control costs, and maximize uptime. The best supplier will provide telematics tools that save fuel, monitor performance, diagnose trouble, and enable repairs.
- Investment Recovery — Construction equipment that has reached the end of its useful life used to be considered a burden. But the savvy owner and the right supplier can make it an opportunity to extract value that is then invested in new machines. Look for trade-in packages, loyalty programs, and systems that make it easy to sell equipment to eager buyers.
Equipment buyers who are willing to look beyond the usual will find the future. Armed with this list of value add-ons, you will make smart purchase decisions that deliver better value. Download a PDF of the full IronIntelligence Report, written by IronDirect President Tim Frank.
Joe Hanneman, Director of Industry Engagement for IronDirect.