So you need new heavy equipment for your company, and you’ve decided you are going to buy used from an equipment auction; how exciting! Equipment auctions are a great and fun way to purchase quality used equipment at an affordable price.
However, buying equipment from an equipment auction can be a little nerve wracking. There’s always a risk with buying used equipment compared to new, however, asking the right questions and considering the right factors will help ease your mind when making a final purchase.
At Lyon Auction, we offer many different types of heavy machinery, trucks and attachments at all of our equipment auctions. We understand how important it is to be sure you are making the right choice, so we have provided some questions to always ask before purchasing equipment from an auction!
Although most auction companies provide this to all potential buyers, if they don’t it’s important to ask if you can see the equipment’s service history and records. Viewing the service records will help you see if the equipment was well taken care of or not, as well as how often it was serviced. If you notice that there are large gaps between services, be sure to ask why.
Are operation records available?
Another question to ask is if there are any operation records for the equipment. These records aren’t as common as service records, but will help show you how many hours the machine was in use, as well as what jobs it was used for. If it seems that the equipment was overworked, then it may be best to not buy it!
Is there a warranty option?
Before making a final purchase, it’s a good idea to ask if there are any warranty options for your equipment. Although warranty options are less common for used equipment, equipment financiers may offer different options themselves!
Be sure to ask if there are any additional costs associated with purchasing your equipment. At equipment auctions, you may be required to pay an additional buyers fee up front. Some auction companies also offer different financing options where you don’t necessarily have to pay full price right away! Be sure to ask and see if there are flexible payment options available.
How does this machine compare to newer models
As technology continues to change the abilities of newer model equipment, it’s a good idea to ask how the machine you are buying compares to newer models. This will help ensure you are choosing a machine that fits what you want, especially if you are wanting to stay up to date with technology or certain features.
Equipment auctions are a great way to purchase quality equipment for cheap, but it’s still important that you are being wise of what you bid on. Before attending your next equipment auction, be sure to consider asking these questions to assure yourself you are choosing the right machine!
At Lyon Auction, we offer equipment auctions throughout the United States and Canada. If you are in need of new equipment this winter, be sure to check out our upcoming auctions on our website!