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Best Practices

What Can You Do with End of Life Equipment

ASC BestPractices Index V1

How to Deal with End of Life Equipment
Even your best machines will eventually get old and stop providing you value. To ensure optimal performance on all your projects, you often have to get rid of your longest serving heavy equipment. Regardless of how well you care for and maintain your machines, they all will slowly deteriorate with regular use. To reduce the chances of unexpected breakdowns and costly repairs, you have to replace end of life equipment prior to failure.

The question is, what are your options for dealing with old heavy equipment when it eventually comes time to part ways? What you don’t want are machines sitting around idle taking up valuable space or degrading even further. If they still have some residual value to offer you, then you want to deal with them before that value disappears. In this article, we cover the four primary options for disposing of end of life equipment.

Sell your machine
When you’re ready to stop using a piece of old heavy equipment, it doesn’t necessarily mean that there isn’t someone else who may have a use for it. If the machine is still in usable condition, you can try offering it directly to a buyer. The primary drawback to disposing of end of life equipment in this way is that it can require a lot of effort and be time consuming. Basically, you will have to act as a sales rep in addition to running your business. The other option is to reach out to your dealer or manufacturer, and see if they are interested in buying your old heavy equipment.

Trade the equipment in
A lot of manufacturers and dealers will often accept your old heavy equipment as a trade in. This route is typically easier than selling, because they are used to refurbishing or remanufacturing old machines, and then reselling them. Plus, the majority of dealers and manufacturers will have an existing process for selling used and end of life equipment. While this route may help you save some money on a new machine, what you receive for your equipment will be dependent on what the dealer or manufacturer estimates is a fair trade in value.

Recycle or scrap it
If your end of life equipment is beyond restoration and cannot be sold or traded in, then recycling or scrapping it may be your only option. Although you most likely won’t receive as much money as you would if you were selling a machine that was in better condition, scrap and recycling centers may help you recoup at least a small amount. Recycling or scrapping it is definitely a better option than leaving it to rot on your lot or behind your shop.

Auction your old heavy equipment
If your machine is an especially popular model or for some reason is in high demand, then auctioning it may be a better alternative to selling to a dealer. Auctioning end of life equipment using online bidding sites will require less effort than direct selling, and it also broadens your reach to a larger list of potential buyers.

Whether you have one piece of equipment reaching its end of life or several of them, the options we listed will help you dispose of machines that are no longer useful to you and may help you recoup some of your investment.

If you have any questions about what to do with end of life equipment, contact our team today.

 

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