Here are some tips on buying pre-owned equipment.
Know Who You Are Buying From
- Is the business you are talking to well known in the area and industry and do they maintain a good reputation
- What organizations is the business a part of
- Is the business a Stocking Dealer, Broker or if they are an Online Service are they a listing service or do they know the business
- Does the business provide references
- Talk to other shops in the area where the business is located, we are in a business where everyone really does know just about everyone, it’s not hard to find information
Inspection of Equipment (Always inspect machines under power)
- Either yourself or…..For out of state or long distance purchases we always recommend finding a reputable local technician in the are to inspect the machine for you…this can be fairly inexpensive and very beneficial, in most cases a technician will find things you or I could potentially miss. Be sure and talk to the technician before they go in and tell them what you want to look for and always ask for a detailed report and pictures are always a good idea.
- We DO NOT recommend buying a machine with an inspection, however, for you brave souls out there:
- Get Pictures but also ask for a video of the machine running
- Make sure you get a return privilege
- And make absolutely sure you know who you are sending your money to
Trucking & Rigging
a. Ask the dealer or seller you are working with to assist you in getting you a trucking and/or rigging rate – these people work with truckers and riggers all of the time and can usually get you the best rate, however, if you feel the rate is high get a second opinion
b. Although you may be paying for these services ask the dealer you are working with to assist in coordinating the trucking and rigging of your machine, this can actually save you a lot of time and headaches
Return Privilege:
a. Leasing – If you are buying your machines using a lease purchase…Remember pre-owned equipment is paid for prior to shipment and when leasing once you sign the acceptance you may have a return privilege with the seller but make sure you are not committed to the lease company if you return the machine
b. Standard MDNA (Machinery Dealer National Association) Return Privilege States: I need to get this information!!!!!!!
First Time CNC Buyers:
a. As a business owner myself I know the cost of start up, running a business and Cash is absolutely king, so we always recommend to our start-up business and 1st time CNC Buyers, to try and get in as inexpensively as you can to start…learn your likes and dislikes, be sure and buy a quality name brand so that it will hold its’ value for trade in later, or if you have to get out of it you can.
Want to Sell a Machine
a. Think Trade In it could save you on your P&L Statement’s Net Income – talk to your accountant to find out the best benefits for you when selling your equipment.