10/02/2021

5 Benefits of Buying Used Mining Equipment

Posted in

5 Benefits of Buying Used Mining Equipment
Author: Small Business Expert | January 15, 2021 | Topic: Used Equipment

5 Benefits of Buying Used Mining Equipment

Mine owners looking to upgrade or expand their operations benefit from buying used equipment. There are many things to consider when buying used mining equipment, including the following five essential advantages.

 

1. Significant Cost-Savings

Buying brand-new mining equipment is a major financial investment. If you want to add to your fleet while ensuring you have the proper cash flow for all aspects of your operations, buying used can save you money without sacrificing quality.

For reliable options that work for your budget and help your mining business stay competitive, used Cat® equipment is a top choice.

 

2. Avoid Depreciation

The value of new equipment depreciates as soon as it leaves the lot. Within the first year after purchase, the equipment can depreciate by as much as 40%. After this, the value typically stabilizes. By purchasing used equipment that is a few years old, you can avoid initial depreciation for a better value.

Used Cat equipment that has not depreciated and has a high current value can also contribute to higher investor valuations and a better appraisal of your mining operations.

 

3. Get It Sooner

Waiting for new equipment to be assembled and delivered can be a lengthy process. If you need a machine quickly, buying used is an excellent option.

Your local Cat dealer makes the process easy by sourcing used mining equipment regularly. When you choose equipment that is immediately available, you'll maintain your productivity with less downtime.

 

4. Many Options

Buying used gives you many equipment options with different models and generations to choose from. If you are looking for equipment with specific features or capabilities, you increase your chances of finding it with a larger selection at your disposal.

 

5. Increased Transparency

When you buy used equipment, you should have access to the machine's ownership and maintenance records. With this information, you know how the equipment was used, giving you a better idea of what to expect from it in the future. These records may also indicate if the machine had any updates or modifications, the number of operating hours, and other important details about its condition.

Most Cat dealers get detailed maintenance and service records for most used mining equipment they buy to give customers as much information as possible. You can also look for Cat Certified Used equipment, which is selected, inspected, and serviced to a high standard so you can buy with confidence.

Contact Your Local Cat® Dealer for Used Mining Equipment

There are many reasons to buy used mining equipment, from time savings and cost reductions to a large, on-hand equipment selection. With used Cat equipment, you can rest assured that you are getting a high-quality, long-lasting machine.

Browse our used mining equipment listings and contact a Cat dealer in your area to find out more about the equipment you are interested in. You can also sign up for email updates to alert you when the equipment you are looking for becomes available.