In the construction industry, materials often make up 40-50% of the costs of each job.
Labor costs make up the other half. Most in-the-know construction workers understand that fact. That’s why they’re often interested in buying used construction equipment.
Used or rented equipment saves money, but that’s not the only benefit they can provide. This is especially true if you’re a small business owner. Read on to learn more about the benefits of using used equipment at your construction site.
The most obvious benefit of getting used equipment is that it saves you money. New equipment is going to be more expensive than if you buy it used. One reason why is because construction tools depreciate immediately after you buy them.
Within one year, most tools lose about 50% of their value but little of their function. With that in mind, you can save up to 50% by buying a used tool that works as well as a new one!
Reliable and Durable
Another advantage of used tools and equipment is that they’re proven to be effective. If the previous owner used it on a regular basis, then it’s durable and reliable.
There might be some quirks you need to be aware of, though, with some equipment. A used 8v92 Detroit engine, for instance, gets a little noisy with age. If you maintain it well, then this won’t happen. You don’t know how the previous owner treated it, though!
Get the Actual Features You Need
There’s nothing more frustrating than going through dozens of tools to find the right one. Often, certain features and parts of construction tools go to the wayside. New technology start to replace older ways of doing things, even if the older way is better!
For that reason, you may want to opt for a used tool with the actual features you need.
More Financial Benefits: Insurance and Taxes
The initial savings you earn from buying used isn’t the only money you’ll save in the long run. Used tools mean a lower insurance rate on those tools. It also means you’ll be paying less in business taxes, too.
Meet Your Green Goals
Do you know what’s even better than saving money? It’s saving the environment at the same time! By buying used, you can meet your business’s green goals. Your sustainable choices won’t go unnoticed by customers, either.
The Many Advantages of Used Construction Equipment
If you’re a new construction firm, you might think investing in new tools is the right choice. Once you’ve got a little experience under your belt, you’ll understand the error of your ways. Used construction equipment is more affordable, efficient, reliable, and durable.
So, the choice is clear. The best construction equipment does not have to be shiny and new.
Are you looking for more business ownership advice, tips, and related content? If so, then you’re in a good place to get informed. Click over to our main business section now to see more of our best articles.