Top 15 mistakes people make when buying used machinery
Here’s our list of the top 15 mistakes we see people make when buying used machinery:
- Not reading the machine’s description properly, thinking they are buying one machine, when they are buying another
- Buying on impulse, and not in accordance with any written asset purchase, management and disposal plan
- Not planning for the costs, resources and time involved in moving and fitting the machine
- Buying as ‘we always have done’, not considering alternative buying strategies – ‘we always buy from dealers, it’s always worked for us, why should we buy online?’
- Not doing their own research into the specific make and model of machine
- Not getting specialist support in decommissioning, moving and recommissioning specialist machinery, but trying to do it themselves
- Not seeking out and taking advice from others who have the same machine
- Not viewing the machinery working
- Not having a proper plan for integrating the machine into the business, including staff training
- Not considering similar machinery, its costs and capabilities …
- Overvaluing what a warranty is really worth
- Not considering the reputation of the seller – can they be relied on, have they included everything they should about the machine?
- Not reading the terms of sale in detail
- Failing to investigate the support available from the OEM/others post sale. Some OEMs are not good at providing customer support on machines bought second hand. It’s still OK to buy used provided that there is an alternative support market – make sure you understand the support market.
- Failing to investigate the number of hours worked or the maintenance history. You wouldn’t buy a use car if you were not satisfied on both, so why treat a used machine purchase any differently?
If are not confident you have each of these covered off, then simply do not buy! Buy when you have them covered off!