What are the benefits of buying used construction equipment?

The advantages of buying used construction equipment

If you want to expand and add more of the same equipment you already rely on, or need new heavy machinery to help you take on new jobs or work more efficiently, it’s well worth looking at the secondhand market, and here’s why.

It’s cheaper

Buying used construction equipment is significantly cheaper than forking out for new assets. Construction equipment depreciates quickly and commonly loses 20 to 40% of its value within the first few years. However, these types of heavy-duty assets have a typical lifespan of 10 to 15 years, so you’ll still get plenty of good use from them when buying secondhand. 

You recover your investment more quickly

When you buy used equipment, you avoid the initial value cliff when depreciation is in freefall. That reduces your initial spend so you can recover your investment and start making a profit more quickly.  

You can add new capabilities to your business

Buying used construction equipment may give you access to tools and machinery that you could not afford from new. The features and functionality of that equipment can help you work more efficiently, add new services and diversify your offering.

It gives you more flexibility

Buying used rather than new equipment allows you to acquire assets without tying up all your capital. For example, rather than spending £60,000 on a new asset, you can buy used heavy machinery for £30,000 and take on a new hire.

It’s more sustainable

Buying used construction equipment extends its lifecycle and is more environmentally sustainable than buying new. You reduce your carbon footprint and contribute to the circular economy by eliminating waste and cutting down on the use of raw materials. 

You can buy it more quickly

There’s no shortage of ways of buying used construction equipment and heavy machinery. Construction plant and machinery auctions take place all the time, and they remove the long lead times that are common when buying new equipment. You can bid on an item and collect it within a few working days. 

The insurance costs are lower

The lower value of used construction equipment reduces the cost of your insurance in the first instance. Thieves also frequently target construction sites due to the high resale values. Buying secondhand reduces the risk of falling victim to a crime and helps you save on your premiums.  

The disadvantages of buying used construction equipment  

Buying used heavy machinery can be quick, convenient and cost-effective, but there are also a few things to look out for.  

Prices can vary

A lot of used construction equipment is sold at auction, where you can never be sure how much you’ll have to pay to secure an asset. That price uncertainty could leave you without the necessary equipment if the bidding rises beyond your budget.

You need to conduct a physical inspection

Buying used construction equipment online is very convenient, but it can make it difficult to identify potential issues. The maintenance record will tell you about routine inspections and any significant repairs or damage, but you should always inspect the machinery yourself. 

Trusted sellers will inspect the equipment thoroughly and only sell items in good working order. However, you should still arrange a physical viewing to be confident about what you’re buying. 

Limited warranty 

Used construction equipment often has a reduced warranty or no protection at all. Obtaining spare parts for older machinery may also be more difficult, although that’s usually only an issue when the equipment is 10 or more years old.

Where can I buy used construction equipment?

If you’re not sure where to buy used construction equipment, you have a few options:

• Private sales listings - Sellers can place listings in trade publications and online marketplaces. Buying from private listings can be risky as it’s not always easy to inspect the equipment and you will have little or no recourse if something goes wrong. 

• Specialist dealers - Some dealers specialise in used heavy machinery and construction equipment. While there’s usually more comeback if something goes wrong, they typically charge more than private sellers to make their business profitable.

• Construction equipment auctions - Online auctions can be a quick and cost-effective way to buy high-quality used equipment and machinery. Auctions typically offer a wider selection of brands and equipment than a dealer, and there’s no markup as the highest bid determines the price. That said, you should be aware of fees.     

Buy used construction equipment at Eddisons Asset Auctions

At Eddisons Asset Auctions, we hold more online equipment auctions than anyone else in the UK, with new items added daily from leading brands such as Caterpillar, JCB, Komatsu and Volvo. As a buyer, you can arrange to inspect the equipment in person and our specialists are on hand to answer your queries. 

Please browse our current range of used construction equipment for sale, click on each lot for detailed information and follow the link to register as a bidder. You can also sign up for our newsletter to stay informed about our upcoming sales.