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How to Sell Your Used Construction Equipment

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If you are looking to expand or upgrade your company or equipment, you may be thinking of selling your used trucks and construction equipment. Furthermore, you likely want to get the best return on your investment, and so you may start to look for ways to sell your used construction equipment in a quick, efficient, and cost-effective manner.

How to sell your used construction equipment?

Below are some quick and easy tips to help you sell your used construction equipment without any issues.

Find Out How Much Your Construction Equipment is Worth

Look into industry trends and equipment pricing by performing the necessary due diligence. Establish an accurate price range for your used construction equipment; the quickest way to do so is to use the most current intel available on the market.

Having an accurate price range to work with will allow you to set price expectations that are not extreme and will also help you confidently negotiate pricing.

Look into Different Selling Methods

Regardless of your present situation or the condition and type of the item you wish to sell, there will be an ideal selling method for your unique needs. Research to learn the disadvantages and advantages of the various selling methods currently employed to sell different construction equipment.

Examples include equipment brokers, private sales, unreserved auctions, equipment dealers, and reserved auctions.

Consult With a Professional

Some construction companies may require help to procure truck repair loans or financing, while others will need professional services to liquidate their construction assets. It doesn’t hurt to at least have a one-on-one consultation with a local expert who’s experienced in the sale of used construction equipment.

Not only will they suggest the best method to sell all of your equipment, but they will also provide you with contacts and other resources that you otherwise would not have access to.

You can save quite a bit of time and money by working with a dedicated asset manager instead of trying to sell all of your equipment on your own. A professional will help maximize your return on investment in an expedited manner so that you can focus on other more pressing matters.

Consider Refurbishing

They say that a picture speaks a thousand words, and that image is everything, so you may want to consider refurbishing to help you sell your equipment quicker while also maximizing your ROI.

How your construction equipment looks can either help you attract higher offers or backfire, causing your items to sit on the shelf. Heavy equipment refurbishing may help you sell your equipment far quicker.

For example, you may want to consider decal replacement, upholstery repair, glasswork, cleaning, or painting to help your construction equipment look its absolute best, which will help attract prospective buyers.

Refurbishing doesn’t cost a significant amount and almost always yields far greater returns in the end.

Don’t Sacrifice Quality for Quantity

Partner with a seller that will not only markets used equipment to larger segments of the industry or market, but will also target niches (for example, equipment type and region).

Marketing your used construction equipment will probably be the most money and time-consuming endeavour that you will have to tackle. Your stress can be alleviated by working with a tried and true seller who has a proven track record of success.

Transparency is Key

It’s important to be honest because trying to “stretch the truth” will almost always backfire. Provide highly detailed information, including high-resolution photos of your equipment from every vantage point imaginable.

Most buyers want to be able to access convenient and accurate information, photos, and videos with the click of a button, and used construction equipment is no exception.

To cater to more discerning buyers, you should only partner with an auction company or selling agent that not only publishes equipment information, photos, and videos online but also accommodates inspections available on-site for more skeptical buyers.

Vet Buyers

The last thing that you want is to have to deal with a lowballer or tire-kicker. Hence, you must screen every prospective buyer before agreeing to meet with them.

You can get a selling agent to do all of the legwork and screening for you. By doing so, you will be provided with assurances that deals will not fall through, ensuring that you will be paid your asking price without question.

Foster Strong Relationships to Plan for the Future

If you plan on turning over a fleet of trucks, excavators, or bulldozers in the next 3-5 years, we recommend partnering with a sales representative that is honest, reputable, and transparent.

A reliable sales rep can help you if you plan on upgrading your construction equipment in the foreseeable future.

Truck Loan Center

If you require truck repair loans or would like more pragmatic tips to sell your used construction equipment, please visit our website. We specialize in truck repair loans and financing, and can also be reached at 1-866-230-0094 for a free, no-obligation quote and consultation to candidly discuss your used equipment sales needs in confidence.

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