BUY SMART — HERE’S HOW
If you’re looking at new equipment, the sales rep may be encouraging you to consider a “smart” machine—one that features connectivity technologies like remote monitoring or automatic blade control. That’s good advice. Technology-enabled assets are helping construction companies of all sizes improve profitability and grow their businesses. But buying smart can mean more than choosing a model with the latest electronics. There are other ways to make your equipment investment work harder and smarter.
- Flexible financing. The right financial partner can make a big difference in investment value. While a good deal starts with competitive rates, getting overly focused on a fraction of a percentage point might not make the most sense. You may benefit more from a lender that understands the cyclical nature of your business and can support all your goals—from optimizing cash flow and allocating capital efficiently to managing costs and reducing risk.
- Extended protection. If uptime and predictable repair costs are important to you, buying an extended protection plan could be a smart move. Many options are available. Some cover basic drivetrain components. Others add coverage for new technology. And some provide protection for just about everything. Choosing a plan that matches your risk tolerance level and fits within your budget can result in years of worry-free operation.
- Maintenance or repair agreement. Sometimes one of the best decisions you can make about your equipment is entrusting its care to an outside expert. Today’s machines are more complex than ever, and good technicians are hard to find, so it can be tough for a do-it-yourselfer to stay on top of maintenance and repairs. As you look at equipment options, pay careful attention to each supplier’s support capabilities. Is there a skilled team in place to keep your iron on the job earning revenue? And how might buying that expertise build up your bottom line?
Check out this smart buyer
Hemphill Construction, a Mississippi-based contractor, decided to invest in GPS-enabled equipment and hired the local Cat® dealer to perform all maintenance and repairs. In this quick video, members of the Hemphill team talk about the benefits of those decisions.
- Less experienced operators are doing quality work, quickly and efficiently
- Uptime is high and catastrophic failures are being prevented
- Trade-in value is strong
- Cost per hour has decreased, so they’re sharpening their bids and winning more business
Hear about Hemphill’s success in their own words.