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Unneeded heavy equipment can cause a lot of strife for the owner. If you’re looking to sell your used heavy equipment, you likely can’t get rid of it soon enough.
With the recent rise in used heavy equipment for sale, starting the selling process can be stressful. You want to make sure you get the best price possible while getting rid of the excess equipment quickly.
If you’re looking to advertise your used heavy equipment for sale by owner, keep reading. We’ll give you 5 tips on how to efficiently sell used heavy equipment.
1. When to Sell Your Used Heavy Equipment
The first step to selling your used heavy equipment is knowing the right time to sell. First, you need to calculate whether you use it enough to get your money’s worth.
If your machine doesn’t generate as much revenue as it costs to store and maintain it, it may be time to sell.
You also need to consider the age of your machines. Once heavy equipment gets too old, maintenance costs can break you. Be sure to sell it while it still has a few good years left to get the most money out of it.
Lastly, try to strategize your inventory of heavy machinery. If you have a few upcoming jobs that require buying new equipment, consider selling equipment you already own that doesn’t get much use.
2. Where to Sell
Depending on where you live, there may be multiple channels in which you can sell your used heavy equipment.
You’d be surprised at how many people search for “used heavy equipment near me” on the internet. Classified advertisement websites and specific used heavy machinery sites will enable you to advertise your equipment for sale at no cost.
You can also search for dealers in your area to sell through, or reach out to equipment brokers. If there are frequent auctions near you, those are a great way to sell a lot of equipment quickly.
3. Pricing Your Equipment
Pricing a used forklift isn’t something you do every day. The best way to price your equipment is to compare the prices of other used heavy equipment near you.
Some websites gather average prices for used heavy equipment. These are like Blue Book pricings for cars and can give you a good idea of a fair price.
Once you’ve figured out what channels you want to sell through, skim those channels. The prices of similar used heavy equipment should help you out.
If it doesn’t look like you can get the price you want for the whole machine, consider selling your used heavy equipment parts.
4. Crossing T’s and Dotting I’s
There are a few boxes you need to check before you agree to sell.
Make sure there are no liens on the equipment you intend to sell. Also, make sure the description matches the condition of your equipment.
Be sure your equipment’s fluid levels are adequate, and that you have proper documentation. No one will agree to buy if you don’t have maintenance records.
5. The Sale
Once you have a buyer, get ready to let them test the equipment. If they’re willing to buy, make sure you can provide them with their proof of purchase.
If they’re paying in full, you’ll have to turn the title over to them. Make sure all transactions are traceable, so no miscommunications are made.
Sell Your Used Heavy Equipment Today
Now you know the ins and outs of selling your used heavy equipment. All that’s left to do is decide on the right time, place, and price at which to sell your machinery.
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