6. Research Product Availability
Naturally, you want to find a dealer that carries the machines you need. Whether you're looking for new or used equipment, you want to make sure the dealer you choose keeps your preferred brand and models in stock. This point is usually the most important factor for construction companies.
Additionally, you should consider the timing of your purchase. If you need the equipment soon, your dealer should have options that allow for a quick turnaround. For example, some Cat dealers allow you to buy a used vehicle and bring it to your site that same day. If you're looking for a new machine that needs customizations, you could rent out a used machine through your dealer until your new one is ready.
Having flexible options to allow you to meet deadlines is just as important as keeping adequate stock, so make sure you know what choices each supplier will provide you.
7. Inquire About Financing Packages
Buying heavy equipment is a huge investment — physically and financially. A good dealer will offer a variety of options so you'll be able to pay for your machine without breaking the bank.
Common financing plans include loans, leasing and rentals. Here's how each one typically works:
- Loans will get you ownership of the equipment you need right away, but instead of paying for it upfront, you'll be able to spread out your payments in regular installments over several months.
- Leases operate on monthly or yearly payments and end with the option to buy or return your equipment.
- Rentals are great for equipment you don't plan to keep because you'll only pay for it as long as you're using it.
Talk to the sales representatives at each dealership you visit to figure out which one will offer you the best deal overall.
8. Shop Around
Don't just stop at one dealership — explore all of your options. What can each dealer tell you about their equipment? Who would offer the best upfront deal? Which dealer has the best financing plans available for you?
One helpful way to weigh out your options is to create a list where you can visually compare the pros and cons of each dealership. Once you've ruled out an option, remove it from the list to narrow down your choices.
9. Trust Your Intuition
Buying a piece of heavy machinery is more than just making a purchase. Because your machinery will need servicing and replacement parts throughout its life, you want to make sure you choose a dealer who does more than just sell equipment. Does it feel like the dealer sees you as a one-off sale or as a potential business partner? If you feel like you aren't on the same page as a dealer, you may want to look somewhere else.