Heavy equipment is not only functional for your business, but a great investment as well. When it’s time to get rid of your old or outdated machinery, you may decide it’s time to sell. There are several approaches to take to successfully sell your used equipment. If you’re looking for a quick sale, or on a tight schedule, here are five ways to sell your equipment fast from Equipment Trader.
1. Hang a For Sale Sign
A classic for sale sign has been a time-tested approach for selling. Hanging a sign in the window or windshield of your heavy equipment is a reliable way to get the attention of potential buyers. On the sign, write information about the unit you’re selling, including the make and year, along with your contact information. The sign should be written clearly with large lettering to make it easy to read.
If you’re still using the machinery on a jobsite, place the sign in an area that won’t obstruct an operator’s view. You can also make for sale flyers and hang them on community boards at local businesses and other places around town. Flyers allow you to engage prospective buyers in your area without compromising the use of the equipment. These flyers should contain the same useful information for a potential customer to learn a bit about the unit.
2. List Your Equipment on an Online Marketplace
Sell your equipment conveniently from anywhere when you list your unit on an online marketplace. With a few clicks on your computer, you’ll be able to reach shoppers from all over the country after creating a simple virtual listing. Be sure to provide plenty of details about your for-sale machinery in your listing description. Through online marketplaces, shoppers are able to browse the specific type of heavy equipment they’re looking for by the year, make, class, hours used, and more, allowing them to find your listing faster if it’s a match.
In addition to finding a buyer faster, you’ll also be able to cut down on the back and forth with a shopper when you provide a comprehensive description of the unit. Online marketplaces also allow you to include high-quality photos of your equipment, so prospective buyers can see exactly what they could purchase before they contact you.
3. Advertise on Social Media
There are several ways to advertise your for-sale machine at no cost through social media platforms. Create your own ad/listing with images and video you take of your equipment on a jobsite. Record a scissor lift reaching impressive heights or a backhoe loader digging holes and trenches to attract potential customers. Post this content on your personal social media accounts, as well as heavy equipment Facebook groups.
If you’re hoping to reach local buyers, utilize Facebook Marketplace. Similar to an online marketplace, Facebook Marketplace allows shoppers to browse for-sale items in their area. Finding a buyer this way can save you time and money on long-distance shipping and delivery costs.
4. Reach Out to a Dealership
Instead of waiting to connect with a private buyer, why not shop your equipment around to local dealerships? Start by calling or email a few dealers in your region and describe your for-sale machine. Their convenient business hours make it easy for them to get back to you in a timely manner and make a deal, especially if there’s a high demand for used inventory.
Since dealerships are going to resell your unit, they often close much faster than private parties. You’ll save time by not needing to verify a buyer’s credentials and haggling over price. Dealers will even handle all of the transfer paperwork for you. To increase your chances of making the most profit, speak with multiple dealerships to compare offers.
5. Trade In for New Equipment
If you’re hoping to upgrade your outdated heavy equipment for something new, trading in might be the better option. You’ll get the same benefits of selling to a dealership, plus a new piece of machinery. The dealer will offer you a value for your used equipment, which you can put into the payment for a new one. A trade-in can even save you money on the sales tax since many states only charge the difference between the value of your for-sale unit and the price of your new one.
Bonus Tip: Rent Your Machinery
If you decide it’s not the right time to sell, but you still aren’t using your equipment regularly, consider renting it out. Renting is a great way to make some money on your idle equipment. Peer-to-peer (P2P) renting allows you to loan your heavy machinery out to other contractors or businesses that will put it to work, while offering you an additional revenue stream. We’ve previously discussed 15 tips for renting out your equipment.
Selling heavy equipment isn’t always an easy process, but it can be done quicker if you know the best techniques. Hanging a for sale sign, listing on an online marketplace, advertising on social media, reaching out to a dealership, and trading in for a new unit can help you sell your equipment fast. For more tips on selling your heavy equipment, read our previous article.
If you’ve decided to sell on an online marketplace, list your unit on EquipmentTrader.com, a trusted nationwide marketplace. Use promo code SELL25 to get 25% off your listing from now until the end of the year.