Reduce the risk when buying used construction and mining equipment
Shopping for used construction and mining equipment can be a real challenge. Whether you’re spending your time flipping through used equipment trader magazines or searching online, buyers have many of the same concerns before making a purchase.
- How do I know if the piece equipment I am looking at has been properly represented?
- Has the equipment been inspected properly
- Has it been properly maintained?
- Is the price fair based on the machine’s make, hours and condition?
- How much time am I willing to spend searching for the right machine for my needs?
- If I can’t find exactly what I’m looking for, is there a comparable model that will meet my needs?
- Am I willing to dedicate the time and money traveling to inspect a machine for myself?
- How much will I have to invest in transportation costs to get the machine to my yard?
And, the most important question of all: Can I trust the dealer/individual I’m buying this machine from?
Reducing the risk
Any time you’re buying used, it’s a bit of a gamble, which is one of the reasons why a tight-knit community of used construction and mining dealers established the Independent Equipment Dealers Association (IEDA) in 2002. The non-profit association is focused on creating a global network of professional, reputable and qualified independent used equipment dealers.
Each of IEDA’s nearly 200 members and associate members is required to pass a strict code of ethics before being granted membership. Focal points of that code of ethics includes:
- Properly representing the current state of any used equipment for sale
- Demonstrating honest and fair business practices during the selling and buying process
- Willingness to work to help raise the standards of the used heavy equipment market
- Adhering to independent dealership guidelines, which exclude OEM relationships with the world’s top five equipment manufacturers
- Proof of operation for a minimum of two years
Benefits to you — the contractor, dealer and end-user
Doing business with a member of the IEDA helps solve the challenges you face when you’re shopping for used equipment. You can be assured that equipment listed on an IEDA member’s website, ads or listed on IEDAused.com accurately reflects its current condition. In the event, you do run into an issue with a machine; IEDA has its own advisory board that will help the buyer and seller settle any disagreement promptly.
Working with an IEDA member also save buyers time and money when shopping for used equipment. The association’s members work with each other to help locate any requested piece of equipment, whether it’s in another state or on another continent. And, many of IEDA’s associate members are experts at getting equipment where it needs to be quickly and economically. You can also be assured that you’re not wasting your time when you decide to travel to look at a machine. In fact, after working with an IEDA member once, many contractors decide it’s not necessary to inspect their next purchase in person — they know they can trust their dealer.
The IEDA has vetted its members, giving you the assurance that you can trust its members. And, trust is the most important part of any used equipment buying cycle.
Where to find an IEDA member
Look for the IEDA logo on member websites and in their advertising. A complete membership list can be found on the IEDA website. Also, you can visit IEDAused.com to search for used equipment from IEDA members.
When you commit to working with IEDA members, you can be assured you are conducting business with good, honest people.