When it comes to purchasing heavy equipment, construction business owners face a significant investment. In addition to the price tag, there are other factors that must be considered when deciding whether or not to buy equipment. These include the cost of owning versus renting, project needs, and equipment availability. While renting equipment is a popular option, there are times when buying the machinery might make more sense. It’s important to do your research and practice due diligence when considering which piece of equipment is right for your project or company.

One way to shop for heavy equipment is to use online resources. Many websites have search functions that allow users to narrow down their options and find specific equipment models. These sites can save time and money by matching up buyers with sellers.

Some of the most popular online equipment marketplaces include Equipment Trader, Machinery Trader and IronPlanet. Each site has a different set of features and benefits, but all three are good places to start when searching for equipment. Equipment Trader matches up those who need equipment with dealers who sell and rent it. The site is easy to use, with the ability to filter searches by location, price and more. Users can also view detailed information about equipment like year, class and hours used.

Another online marketplace is Machinery Trader, which offers free listings for both buyers and sellers. The site is divided into categories by manufacturer, type and model. The listing information includes a detailed description of the machine, photos and pricing information. The website also has a feature that allows users to create a custom alert for when new equipment is added to the marketplace.

Other popular online resources for finding construction equipment include eBay and Craigslist. These websites have a wide variety of equipment for sale, from small power tools to large bulldozers. It’s important to practice caution when using these resources, as some of the equipment listed may be counterfeit or have been improperly maintained. Regardless, it’s always a good idea to read reviews and ask others in the industry for recommendations before making any purchases.

If you’re looking to purchase a new piece of equipment, it’s important to consider the financing options available to you. In general, financing accounts for between 40% and 75% of the total number of machines sold by construction equipment manufacturers. Depending on the type of machine, buyers will likely finance the machinery through the dealer or an independent financial institution. Some of the most popular types of construction equipment that are financed include compact track loaders, bulldozers, hydraulic excavators, and backhoe loaders.