As you begin your search to purchase a new Skid Steer Loader, you will quickly find that that there are many manufacturers of skid steer loaders.
You will find that there are infinite options, from engines to operator control options. As with the purchase of any piece of equipment you need to start by purchasing the right unit to complete the application you will be using it in, don't ever think that because you have purchased the largest or highest horsepower machine that it will complete the job more efficiently.
Below are some of the key objectives for purchasing a new Skid steer Loader.
1. Budget vs. financing. You will need to start the buying process by determining whether you will need to finance the equipment or purchase outright depending on your financial situation. Even if you have available funds to purchase the equipment, don't rule out financing. With current programs manufacturers are offering 0 - 4% interest programs on new equipment.
You may be able to put as little as 1% down and keep your working capital for if or when you or your business is having a slow time and the income isn't coming in the same as it had been. When you're trying to get money, the worst time to try and get it is . . . well . . . when you actually need it. With this decided, you will need to determine a dollar amount or payment that fits your needs. Another good option to look into is leasing, which many construction businesses are now utilizing. Typically, leases have better tax structures, lower payments and can help you avoid too much exposure on your financial statements because true leases can typically be shown as an "off-balance sheet" transaction. If a bank sees that you have too much debt, they may begin to stop loaning you money. Leases can help prevent that from happening.
2. Purchasing the Equipment that will best suit your applications. This is by far one of the most important steps of this process. You will need to provide the equipment sales company with accurate information about the type of work you will be doing, this will allow them to provide information and pricing on the unit that meet all your need on the job. Utilization is key when purchasing a piece of equipment, the more task you can complete with owned equipment the less you will have to rent equipment from an outside source, again saving you money in the long run. You will need to know information such as lifting capacities(especially if you intend on using the equipment to handle material), you will need to have an idea of what the weight is of the material. Next you will need to consider lift and dumping heights. If you need to load into truck you will need to know how tall the bedsides are. You will also need to know if you are restricted by the physical dimensions of the equipment(are you working in confined spaces that a large loader would not be able to maneuver safely).
Another key is properly equipping the unit that you purchase. Think about things that you may need or want as far as options. Many times, consumers will buy a base model machine and then come to realize later on that they'd be able to better use the equipment if it had heat and air conditioning or foam filled tires. Also, they find themselves being restricted on the attachments they are able to run based on whether or not they have high flow hydraulics opposed to standard flow hydraulics. Transport is also a major concern, do you have the capabilities of transporting the equipment from project site to project site without buy larger truck and/or trailers.
3. Comparing various models. When you begin comparing different models, be sure you understand how the various manufacturers rate their equipment, when you are comparing horsepower rating be sure that you are not comparing net horsepower to gross horsepower. Some manufacturers rate their machine by gross horsepower and others rate theirs by the net horsepower, the same will apply with lifting capacities. The rated operating lifting capacities are figured as a percentage of the machine tipping load, again the different manufacturers rate their machines differently, some will use 50% of the tipping load and others may only use 30%. Just be sure to compare apples to apples for the best value. Another good idea is to ask about resale on the equipment, Ask what a comparable machine that is a few years old would be sold for, this will give you a rough idea of what you may be able to sell this unit for when it is time to upgrade.
4. Service and Warranty after the Sale. When purchasing a new piece of equipment be sure to ask about warranties, you should determine what is covered and how long the warranty is in affect. Be sure to find the closest warranty repair center before you purchase. Ask if a service loaner will be issued in case of mechanical breakdown. You may also want to ask if the dealer stocks parts for the unit. Before the sale is final be sure to ask the dealer how they would handle the situation if a month or so after you purchase the equipment, you decide that you are not satisfied with it.
Copyright (c) 2008 Will Burke
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Will Burke has been selling all types of construction equipment for over 9 years. He is a specialist in compact equipment. If you'd like more information, please visit http://www.buyhaydenequip.com
Disclaimer: All information on this site is provided for informational purposes only! By no means is any
information presented herein intended to substitute for the advice provided to you by any health care or other professional
or organization.
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