Heavy equipment can take heavy wear. Eventually, construction work takes its toll on the best machines. Business owners and equipment managers need to know when to buy new machinery to ensure they’re using the best equipment for the job.
While preventive maintenance extends equipment life, you might be seeing reduced performance lately. It’s important to keep equipment performance up to stay competitive in this industry. Comparing your current machine against an upgrade will let you make the best decision for your operation. Use these tips to help with determining the need for new equipment.
Assessing Current Construction Equipment Performance
Knowing when you should buy new machinery means examining your current lineup. Sometimes, your equipment just needs a repair to make it as good as new. Look at these areas to decide if it’s time for a new machine:
- Operation: Does the machine break down often? How frequently do you need to make expensive repairs? More downtime means the equipment is cutting into your productivity and bottom line. Additionally, older equipment might work more slowly or less precisely. You want equipment to be reliable and cost-effective — otherwise, it’s holding you back.
- Fuel efficiency: Older equipment often uses more fuel, falling behind in performance. If your machine overconsumes fuel, your expenses will increase without seeing better site results. When operating costs get too high, it’s probably time for an upgrade.
- Safety: Safety is critical when working with heavy equipment. Older machines might lack new safety features or perform poorly, putting operators at risk. It’s safer to upgrade your outdated models to prevent accidents and liabilities.
- Maintenance: As machinery ages, parts wear out more quickly. Track your equipment expenses to see how much you spend to maintain your fleet. Are there machines that take up a significant part of your maintenance budget? If you need to care for machinery too often, it will cost you more in the long run.
Factors for Buying New Heavy Machinery
If you’re considering getting new equipment, you need to do more than look at your machines. Heavy equipment is a significant investment — you want to ensure a new machine is the best choice for your long-term goals. Take these considerations for investing in new equipment into account before choosing a model:
1. Technology
Heavy equipment technology has advanced significantly in recent years. Features like condition monitoring, advanced safety systems and telematics have made big differences in performance and care. These innovations make your machines more efficient and safer, improving productivity. Access to real-time performance data lets you take better care of your equipment, reducing long-term expenses.
If your current equipment lacks these features, you might want to invest in a new machine. Getting cutting-edge technology could boost your productivity, helping you outpace the competition. Additionally, new machines could make you more compliant with new safety and environmental standards. You’ll keep your operation competitive and complaint, transforming your work.
2. Reliability
Reliability is another major consideration. Older equipment often needs frequent repairs, slowing down your progress and driving up costs. While you might want to keep repairing older machines, these expenses add up. Eventually, you’ll pay more for repairs and downtime than it costs to get a new machine. If your fleet is becoming less reliable, you might want to consider an upgrade.
Newer machines last longer and work more efficiently. Look at your equipment’s performance history for frequent repairs and downtime. You might find that upgraded machinery might be more cost-effective in the long run.
3. Budget
Your budget is going to affect the choices you make. Weigh your choices — repair, used or new. Brand-new equipment can be a significant upfront investment, so you need to consider the total cost of ownership. This cost includes the purchase price, maintenance, resale value and fuel. While used equipment costs less upfront, newer machines offer better fuel efficiency and need less maintenance. You could save money over time by investing in brand-new equipment.
4. Maintenance
Maintenance will also influence your decision. Older and used machines need more maintenance than newer models. Although all equipment needs preventive maintenance, older machines need more frequent care. The older the equipment is, the more wear and tear it takes on, increasing your maintenance time and costs. As equipment ages, finding parts and getting manufacturer support becomes harder. New machines come with warranties and easy access to parts and support. If you’re finding maintaining your fleet difficult, investing in new equipment could give you better support so you can focus on your operation.
5. Project Needs
The project types you’re working on or want to handle are also important. It might be time to upgrade if you’re struggling to meet upcoming project scope or requirements. Some jobs might demand equipment with higher power capabilities or attachments. If your existing fleet cannot support these requirements, it will affect your success. Investing in new equipment can help you take on bigger or more specific projects, expanding your business.
Benefits of New Construction Equipment
Investing in new equipment is a great way to push your operation forward. New machines have upgraded features, better performance and helpful warranties, protecting your equipment. Here are some of the benefits a machine upgrade can offer you:
- Improved efficiency: Updated machines are usually more powerful, faster and easier to operate. With new equipment, you can complete tasks more quickly and precisely. Use automated features and better hydraulic systems to finish projects on schedule with lower fuel costs.
- Lower maintenance costs: Newer equipment needs less care than older models. Updated equipment often comes with better support and fewer needs, bringing down your maintenance expenses. You’ll boost your cost savings without worrying about the machinery’s condition.
- Better safety features: Getting new machines also means accessing the latest safety materials. Features like real-time monitoring, better operator visibility and more ergonomic designs make new models more comfortable and safe. You’ll protect your operators and comply with the latest regulations.
- Higher resale value: While newer equipment costs more upfront, it also has a higher resale value than old machines. You’ll receive a better return if you want to sell or trade your machinery later. It’s a great choice for businesses that frequently update their fleets.
Browse New Heavy Equipment from Thompson Machinery
Knowing when to buy new equipment is only half the battle. You’ve also got to find a reputable machine seller to ensure you get the best equipment for your needs. Thompson Machinery has an extensive selection of Cat® equipment, from compact skid steers to powerful dozers and excavators. Our team ensures you have access to the latest technology to keep your projects running smoothly.
If you want industry-leading equipment and unmatched support, choose Thompson Machinery. Contact us today with questions, or find a location near you to get your next machine!