MAXIMIZING THE TRADE-IN VALUE OF YOUR EQUIPMENT

An Insider's Guide

by Ty Etterlein & David Burns


INTRODUCTION

In this paper, we will give you a peek behind the curtain into how the trade-in price is determined. This will allow you to get the most for your equipment. The process actually begins as soon as you make your original purchase, and continues until the day you take it in for your next acquisition. We’ll walk you through the six simple steps you can take to get the best deal possible. And in the process, you’ll learn techniques to keep your equipment running smoothly and operating at maximum capacity.

1: GET IT IN WRITING

The first thing a buyer will want to look at isn’t your machine, it’s your records. Keep and store all documentation and paperwork you receive at the time of sale. This includes receipts, operations manuals, and copies of all warranty documentation

Keep a copy of any paperwork from repairs or maintenance done to the equipment, whether it is performed by yourself, the dealer, or a third party. These records should specify who carried out the work, what was done, and (often most importantly) the hours on the machine at the time of the work.

When you present all records for the lifetime of your equipment, it does more than just provide a series of snapshots of your machine’s history; it also demonstrates that you’ve been diligent in following proper maintenance procedures.

2: CHECK YOUR OIL

It’s a minor expense that will more than pay for itself over the life of your equipment. What is this action? It’s simple: when you change your oil, have a sample analyzed by a respectable lab.

It may seem like a small matter, but it can make a large difference. And this insignificant cost now will save you money throughout the lifetime of operation, and increase the amount of value you recover when trading in.

3: SET THE STAGE

Even though you’ll no longer be operating your equipment, you should make any small repairs or cosmetic improvements you can. Some examples: replace missing knobs, make sure all lights are working properly, and re-cover torn seats. Minor, low cost repairs. You should then steam clean and detail your machine, as this can make a significant impression to the inspector and, in case of a consignment sale, the potential buyer.

Dirty and worn-looking equipment just doesn’t sell. Because if the owner couldn’t be bothered to fix the damage you can see, it raises concerns as to the damage and neglect you don’t see.

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