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. 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 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. The worst time to try and get money is when you need it. With this decided, you will need to determine a dollar amount or payment that fits your needs. Leasing is also another viable option that many construction businesses are 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. 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. 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. 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 incase 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.
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