8 FACTORS THAT AFFECT EQUIPMENT COST AND VALUE
Managing the heavy equipment fleet of a municipality can be a rewarding job.
You work with iron on a daily basis, so you understand that the lowest bid choice isn't necessarily the best use of public cash. Encourage your procurement team to think about some of the other factors that influence equipment value when negotiating potential purchases.
- Safety Features
Although many equipment brands meet the bare minimum in terms of safety, some go above and beyond with features like secondary steering, thicker handrails, ergonomic cabs, better visibility, rear-view cameras, and more. The added features come at a price, but the long-term benefits—in terms of reducing accidents and injuries—are well worth it.
- Fuel Efficiency
Fuel is a significant cost driver in any business, so keeping it under control is always a priority. That implies your fleet of machines needs to be able to do more work per unit of fuel consumed. Choosing higher-quality goods backed by dealers with varied application and equipment management skills is the best way to enhance fuel efficiency. Look for the most affordable construction equipment loans.
- Ease of Operation
Some brands are easier to use than others. These controls usually require less effort to use. Visual assistance is provided by in-cab displays. These features may raise the purchase price, but they usually pay for themselves in terms of more productive employees.
- Parts Availability
It is beneficial to be well-informed. If you get the parts you need when you need them, you'll be able to keep your equipment on the ready line.
- Foresight and prevention
While the machines are in use, on-board technologies of higher-quality brands may capture essential data from main components and systems. The professionals at our dealership study the data and provide recommendations to minimise minor issues from becoming major issues. In the long run, having access to such technology and information can be quite useful. You can also conduct an online search for the best equipment trader.
- Convenient Design
Because skilled labor is in short supply in many areas, it might be difficult to find suitable specialists to work on your fleet. If you don't have a seasoned maintenance team—or even if you do—having equipment engineered for quick service is beneficial. A better design may cost a bit more up front, but it pays off in the long run with more efficient maintenance and repairs.
- The cost of resale
The value of a higher-quality brand is frequently evident through trade-in or resale. While a low-bid model may be worthless, a machine built to last can help you save money on future purchases.
Alternatives to Disposal
Equipment with a higher monetary value can be repurposed to serve a second purpose. When your company chooses a product that can be repaired or remanufactured, it demonstrates its commitment to resource conservation and long-term sustainability.
Spread the word!
You understand, perhaps better than anybody else, why the low-bid option may not be the most cost-effective. Let your procurement team know what you've learned. Assist your company in obtaining high-quality equipment at a low overall cost.