Heavy equipment represents a significant expenditure for construction companies, so it is crucial to purchase equipment that offers a positive return on investment. To avoid overspending and ensure you get the best equipment for the job, it is critical to conduct thorough research. Take inventory of what you already have, set a budget, and review your company’s needs and each job site’s requirements.
Follow these tips to make the right purchases and get the most out of your construction equipment fleet.
Take Inventory of Your Existing Fleet
Before buying new equipment for your fleet, assess the condition of your existing machines. For example, if your equipment is outdated or no longer performing to its original specifications, you may need to prioritize replacing these machines.
Look for newer models of your existing hardware and ensure they fulfill the same work needs as your old machines while also offering extra features and updates.
Once you have assessed your existing fleet capabilities, review your jobs and worksites to find areas where you can improve productivity and workflow efficiency.
For instance, if you frequently need to rent specific machines, like an excavator, to complete projects, consider investing in that piece of equipment. Depending on the type and model, renting a single piece of equipment can cost thousands of dollars per day. If you regularly hire specific machines, purchasing the equipment outright may be more cost-effective.
Selling your used equipment can help offset some of the cost of purchasing new machinery. Research the used construction equipment market for your machines’ value, then factor the resale value into your budget for new equipment.
Consider Projects & Job Site Requirements
Assessing your job site, including weather information and terrain, can help you find construction equipment suitable for your project. Then, you can verify your machines offer every feature your crew needs to complete their tasks efficiently.
Check that your existing equipment adapts to your local weather and environmental conditions. For example, if you work in colder climates, confirm your equipment is resistant to cold temperatures or if winterization is possible. Winterization features include compatibility with low-temperature fuels, oils, and coolants.
It is also critical to consider the job site’s terrain specifications before selecting heavy construction equipment. A fleet of wheeled vehicles may be suitable if the soil is sufficiently firm on most of your job sites. However, if you frequently work on softer, more slippery ground, such as clay, sand, gravel, or snow, you may need tracked vehicles because they provide better traction.
Invest in Telematics
Construction equipment telematics is an array of modern technologies designed to provide construction equipment owners and operators with real-time data about their vehicles and machines.
Construction machines equipped with telematics solutions can monitor their own condition and status. They can also send notifications of upcoming maintenance or repairs. These technologies can also monitor and record equipment usage data, such as acceleration, braking charts, and fuel economy. This can provide valuable insight to your maintenance teams.
They can use the data to determine the most efficient maintenance schedules or address potential issues before significant failures or breakages occur. This keeps your machines running longer and reduces spending on repairs or replacements.
Buy from a Reputable Dealer
Look into what construction equipment is available today, using the data and information you’ve collected on your existing fleet as your research criteria. Narrow it down to specific models based on their features and capabilities. Prioritize equipment intended to replace old or outdated machines first and new equipment meant to fulfill unmet needs second.
Set a realistic budget once you know what machines and equipment your fleet needs. Don’t forget to take maintenance and equipment depreciation into account when budgeting; the total cost of ownership is more important than the vehicle’s sticker price.
When ready to purchase your new equipment, always look for reputable dealers with reliable service, experience, and strong customer support. Although there are many online options for buying new construction machines, take the time to review local brick-and-mortar suppliers. These dealers may offer deals that you won’t find anywhere else and provide face-to-face support and service.
If possible, build a relationship with your equipment dealer, and always be honest with them about your needs, budgeting, and requirements. A trustworthy dealer can provide information on the equipment specs and help you find the ideal heavy machinery for your company.
Build Your Equipment Fleet With Us
Monk JCB is a Southeast Texas-based, authorized JCB heavy construction equipment dealer. We carry a complete range of JCB machines, including excavators, telehandlers, wheel loaders, skid steers, and track loaders.
Our dealership is proud to serve Houston and the Brazoria, Fort Bend, Harris, and Montgomery counties. Contact us today for a free quote or to learn how we can help you choose the right machines to improve your bottom line.
