As you begin your search to purchase a new Skid Steer
Loader, you will quickly find that that there are many
manufacturers of skid steer loaders.
You will find that there are infinite options, from engines
to operator control options. As with the purchase of any
piece of equipment you need to start by purchasing the
right unit to complete the application you will be using it
in, don't ever think that because you have purchased the
largest or highest horsepower machine that it will complete
the job more efficiently.
Below are some of the key objectives for purchasing a new
Skid steer Loader.
1. Budget vs. financing. You will need to start the buying
process by determining whether you will need to finance the
equipment or purchase outright depending on your financial
situation. Even if you have available funds to purchase the
equipment, don't rule out financing. With current programs
manufacturers are offering 0 - 4% interest programs on new
equipment.
You may be able to put as little as 1% down and keep your
working capital for if or when you or your business is
having a slow time and the income isn't coming in the same
as it had been. The worst time to try and get money is when
you need it. With this decided, you will need to determine
a dollar amount or payment that fits your needs. Leasing is
also another viable option that many construction
businesses are utilizing. Typically, leases have better tax
structures, lower payments and can help you avoid too much
exposure on your financial statements because true leases
can typically be shown as an "off-balance sheet"
transaction. If a bank sees that you have too much debt,
they may begin to stop loaning you money. Leases can help
prevent that from happening.
2. Purchasing the Equipment that will best suit your
applications. This is by far one of the most important
steps of this process. You will need to provide the
equipment sales company with accurate information about the
type of work you will be doing, this will allow them to
provide information and pricing on the unit that meet all
your need on the job. Utilization is key when purchasing a
piece of equipment, the more task you can complete with
owned equipment the less you will have to rent equipment
from an outside source, again saving you money in the long
run. You will need to know information such as lifting
capacities(especially if you intend on using the equipment
to handle material), you will need to have an idea of what
the weight is of the material. Next you will need to
consider lift and dumping heights. If you need to load into
truck you will need to know how tall the bedsides are. You
will also need to know if you are restricted by the
physical dimensions of the equipment(are you working in
confined spaces that a large loader would not be able to
maneuver safely).
Another key is properly equipping the unit that you
purchase. Think about things that you may need or want as
far as options. Many time consumer will buy a base model
machine to later find that they better utilize the
equipment if it were equipped with heat and air
conditioning or foam filled tires, many times consumers are
restricted on the attachment they are able to run based on
whether or not they have high flow hydraulics opposed to
standard flow hydraulics. Transport is also a major
concern, do you have the capabilities of transporting the
equipment from project site to project site without buy
larger truck and/or trailers.
3. Comparing various models. When you begin comparing
different models, be sure you understand how the various
manufacturers rate their equipment, when you are comparing
horsepower rating be sure that you are not comparing net
horsepower to gross horsepower. Some manufacturers rate
their machine by gross horsepower and others rate theirs by
the net horsepower, the same will apply with lifting
capacities. The rated operating lifting capacities are
figured as a percentage of the machine tipping load, again
the different manufacturers rate their machines
differently, some will use 50% of the tipping load and
others may only use 30%. Just be sure to compare apples to
apples for the best value. Another good idea is to ask
about resale on the equipment, Ask what a comparable
machine that is a few years old would be sold for, this
will give you a rough idea of what you may be able to sell
this unit for when it is time to upgrade.
4. Warranty and Service after the Sale. When purchasing a
new piece of equipment be sure to ask about warranties, you
should determine what is covered and how long the warranty
is in affect. Be sure to find the closest warranty repair
center before you purchase. Ask if a service loaner will be
issued in case of mechanical breakdown. You may also want
to ask if the dealer stocks parts for the unit. Before the
sale is final be sure to ask the dealer how they would
handle the situation if a month or so after you purchase
the equipment, you decide that you are not satisfied with
it.
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Will Burke has been selling construction equipment for over
9 years and is a specialist in compact equipment. For more
information please visit http://www.buyhaydenequip.com .
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