The summer construction season is in fully swing. But even the most well prepared contractor may still be looking to buy equipment for specific projects or just to update or add to a construction equipment fleet. If you prefer to buy used equipment, there are a couple of newer resources out there for you.
Largest used equipment search engine
Launched in the beginning of 2017, UsedEquipmentGuide.com (UEG) is a new used equipment search engine that pulls together 300 sites to aggregate all the used equipment listings into one place. Instead of searching hundreds of sites you can now search just one site to find the equipment you need.
In addition to used equipment listings, UEG also features a free Market Price Calculator, which provides statistical pricing models for 14,224 models across 792 makes based on publicly available for-sales listings. The goal is to help buyers (and sellers) determine current market pricing for the construction equipment. According to UEG, the Market Price Calculator compares the age and usage of a single piece of equipment to every other piece currently listed for sale of the same model or model family. UEG lables items as underpriced, overpriced or fairly priced based on age and usage.
“The Market Price Calculator gives sellers the ability to price their equipment correctly, buyers the ability to understand the opportunity cost of buying a specific item and fleet owners and third parties the ability to better value their fleets,” said the company’s founder, Jeremy Balog. “Users already had the ability to click the price of a specific piece of equipment to see target pricing for a specific piece, but the Market Price Calculator allows users to use any inputs they want to harness the power of these statistical models using their own variables."
Another free tool available on UEG is the market pricing heatmaps. The heatmaps provide a better understanding of pricing trends by geographic area.
"We are a beneficial resource because we give construction contractors all the equipment available in one search and the tools they need to get the best deal," said Clint Lawing, marketing manager for Used Equipment Guide.
EquipmentShare is a peer-to-peer marketplace for contractors looking to lend and rent heavy equipment. Currently, EquipmentShare manages marketplaces in Columbia, MO, Jacksonville, FL, Dallas, Houston and San Antonio.
The EquipmentShare platform includes insurance verification, background checks, payment processing and an easy interface for renting and lending equipment. Every piece of equipment on the EquipmentShare marketplace must first pass a rigorous inspection to ensure it is in great working condition so contractors are getting the best equipment they can.
And, if a piece of equipment does go down on the job, EquipmentShare has service experts on call 24/7. According to EquipmentShare, the average on-site response time is just under 1.5 hours.
In addition, if you rent or lend equipment on the marketplace, EquipmentShare providers access to ES Track, it's proprietary telematics platform. With ES Track, lenders can see how their equipment is being used while renters get the value-add of the job data and analytics.
If you prefer to buy used equipment from a dealer then EquipmentTrader may be a better resource for you. EquipmentTrader offers a wide selection of classified ads and over 91,000 pieces of equipment to search from more than 800 dealership listings.
According to EquipmentTrader, the online classified advertising service reaches over 1 million active equipment buyers a month through both its website and its magazine.
The EquipmentTrader website provides so many filter options to make it easy to find the equipment you are looking for. You can search by equipment type, manufacturer, for sale or rent, and even search by zip code. You can also search for equipment dealers by state.
In addition to used equipment listings, EquipmentTrader offers additional resources to make the buying process easier including a list of businesses and providers that can help with financing, parts, painting and even finding the right attachments. EquipmentTrader also features a blog and a newsletter for additional information.
The Equipment Price Checker is a resource that provides contractors with a quick way to find the range of listed prices for your search. The Checker shows the average, lowest and highest prices found in the results.
These are just three of the newer online resources available to construction contractors looking to buy or rent used equipment. What are your thoughts?
Would you use any of these resources to find equipment for your fleet?
Do you trust online resources like these, or do you prefer to more traditional methods such as in-person or from a print ad?
Have you used any of these resources to purchase or rent equipment? What was your experience like?
What other used equipment online resources have you used, and have you been satisfied with the experience?