The Secret to Shopping Around: 3 Places to Look When Buying Equipment

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 Every business owner knows that purchasing equipment can be a big expense.  That’s why it’s so important to shop around to get the best deal.  Before you dip into your wallet, be sure you examine all of your options.

Here are the best places to look:

Local equipment vendors.  This should always be the first place you start looking for equipment.  Shopping local gives you the opportunity to check out the equipment you’re purchasing face to face and “kick the tires,” so to speak, before you sign on the dotted line.  Scoping out local vendors will also help give you a good idea of the going price for the equipment you’re looking for.   Consider the price difference between buying a used versus a new piece of equipment.

Go online.  Once you’ve done some research at your local vendors, you should take your search online.  Stop over at EquipmentEngine.com or try your hand at an online auction at ebay.com or Ritchie Brothers.   Do some research and find some online retailers for your specific industry as well.  If you’re looking for dental equipment, dentalassets.com might be a good bet or if you’re in need of construction equipment check out Mascus.com.  You may be surprised at how many very niche equipment sites there are out there.

Hire an Expert.  If you’re strapped for time, you may consider hiring an expert to help with your equipment purchase.  Some of the larger online marketplaces have dedicated account managers that can take care of the entire process for you. Though there will definitely be an added expense, in some cases the price of commission is worth it to get the piece of equipment you need quickly and easily.

A couple of words of caution:

If purchasing online, always be sure to read reviews from other customers that have purchased equipment from the site you are considering.  This could save you the headache of dealing with an unreputable equipment vendor.  Also, it’s always a good idea to inspect your delivered piece of equipment once it arrives to ensure that it didn’t incur any damages during transit.

Once you’ve found that perfect piece of equipment, you’re likely going to need to secure some financing.  As always, Direct Capital is here to help with our excellent equipment financing programs.

Where’s your favorite place to purchase equipment?