It is close to impossible to function in the construction industry without the presence of heavy equipment. You simply will not be able to walk an inch if you do not have good functional heavy equipment and may find your businesses moving to your competitors. So possessing necessary heavy equipment is of utter importance if you want to make your presence felt in the construction domain. However, if you have few construction machines that are faulty and every now and then you have to spend a fortune paying good chunk of money to the mechanic to fix things, you are heading for a bigger mess.
Firstly, you just can’t remain in business with machines that do not work. If it a minor problem and you can get it sorted with the help of a mechanic, you should do it at the earliest but when you start experiencing chronic issues, it is time to give away the old piece of metal and buy a new one. Spending more money for repairing the stuff does not make any sense when you have a big construction business to run. You can’t expect your equipment to go off the field for whatever reasons.
Buy a brand new machine if you have enough reserves:-
To buy a brand new heavy equipment or a used one can be a very tricky question. It all depends upon your requirement and the reserve amount you have in hand. For instance, if you have projects that demand new equipment at work, there you are left with no other option that to invest your money in buying a new stuff. But if the situation does not demand you to buy a new machine and if you can get a used one that is quite functional then you should prefer the later. Keep your money for future requirements as you do not know when you may need the money.
In case, you have to buy a new machine and you do not have sufficient reserves for it, taking a loan is the last option. You can think of all the options you have at your disposal when it comes to borrowing money. It can be from a friend or somebody from your relatives. There you may not have to pay any interest to them but if you do not get any financial assistance from them then you have to turn up to a financial institution for loan. You will be charged interest on the loan which is required to be paid on a monthly basis.
Buy heavy equipment directly from the company:-
Buying heavy equipment directly from the company can be very rewarding. There you can expect to get some offers that the company is running at that point in time. You may also get some discounts on the price of the machine or they may offer you some accessories for free. Overall, it will prove to be a win-win situation for you.