These include:
-- market conditions at the time
-- the general state of the industry
-- the type of machine you are offering
-- the make (is it a well-accepted make, or is it somewhat of an orphan?)
-- age of the machine, and how many hours it`s done
-- the nature of the work it`s been engaged in.
However, there are some things you can do to ensure you will get the best possible price for the unit at sale time.
The two key points are appearance and history.
Appearance
We all know how important first impressions can be in all aspects of life! Earthmoving equipment is no different.
As a start, the machine`s overall appearance should be kept clean, with minimal panel damage and no broken glass.
If you take pride in a machine`s appearance from the start, it`ll pay off when you come to quit it. If a machine has been well looked after all its life, it shows.
The undercarriage or tyres should be in reasonable condition, with at least 50% remaining. If there is less life remaining, that will be reflected in the price you are offered.
The cabin should also be clean and well maintained, with all controls and gauges working properly.
Warning devices and safety equipment (such as seatbelts) should also be in good working order. The seat should be fully adjustable, with no rips and tears.
If a machine doesn`t have a ROPS cab (where applicable) or the ROPS has been damaged, that may have a drastic effect on the resale value.
Most construction sites these days won`t accept a machine without a certified ROPS. Any buyer of a machine without ROPS will have to factor that into their price.
History
The first question asked by most customers when they inspect a machine especially when it gets up in hours is: `Do you have a service history?`
Particularly with larger machines, component history will dictate the sale price.
Understanding a machine`s history is the key to being able to put a true value on it.
Any machine with a well-documented record of scheduled maintenance, carried out by the dealer or the contractor`s workshop staff, will be worth more than one which has no evidence of regular maintenance.
Also ensure that daily greasing and regular oil changes which are important for extending component life are carried out, and documented.
Always keep receipts for parts and labour for any repairs carried out.
You should be having regular oil sampling; make sure you keep all the results. The true value of oil sampling is the trends it shows up not the one-off sample at the time of purchase.
If you have opted for a full repair and maintenance contract from your dealer when you bought the machine, you will have done a lot to maximise its resale value.
Repair and maintenance contracts not only reduce operating costs, but also provide an accurate machine history.
In summary, if a machine is well looked after, with a history of regular servicing and full documentation of any repairs carried out, you will generally receive a much better resale price.
Optimum change-out period
We are often asked what is the best time to change a machine over and replace it with a new one.
This very much depends on individual circumstances and requirements. The optimum change-out time will depend on application and operating conditions, any contracts you may have coming up, your work levels, etc.
If you are looking to buy a new replacement machine, the trade-in option is generally the best.