VolvoCE tips to increase machinery resale value
High resale value is an important contributor to the low total cost of ownership (TCO) of construction equipment. Here are Volvo Construction Equipment’s five simple tips to increase the profitability of your machine even further.
1: Keep a complete service history log
If you’re selling a piece of used equipment with many hours on the clock, a buyer may assume that it needs a lot of repair work even if it is in excellent condition.
Always keep your machine’s service history up to date to prove the services that have been completed, as well as any components or parts that have been replaced. This will help the buyer understand its true condition – and you to receive a fair price – irrespective of its age and hours.
2: Clean the machine and touch-up any paintwork
First impressions matter. Taking the time to clean your machine, make sure all the sheet metal is straight and touch up the paintwork will improve its appearance and value.
Don’t go overboard with the paint, though. Excessive painting does not look uniform and may indicate to the buyer that you’re trying to hide something.
Similarly, painting black components yellow, like coils, springs and hydraulic hoses, can actually decrease resale value. A clean machine with light touch-ups is always best.
3: Take good care of your cab
A carefully-maintained cab suggests that you have looked after the machine overall.
Thoroughly clean the cab, make sure all the switches are working properly and replace any that aren’t.
It’s important to check the seat adjusts properly too as seat assemblies can be expensive and the cost of a replacement will be deducted from the resale value.
4: Fix any leaks
If a buyer spots a leak, they may take it as a sign of bigger issues even if it isn’t. Inspect the entire machine and fix any leaks you find.
6: Replace parts where needed
It may seem like a large and unnecessary cost to replace parts on a machine you’re selling but it is worth it, especially with genuine Volvo parts. It’s not uncommon for an excavator in a demolition environment to have damage to its rear door, for example, and while it might cost a lot to replace it yourself, it could net you back several times that amount in resale value.
As part of Volvo Construction Equipment’s mission to deliver the lowest possible TCO for their customers, they design machines to retain a high resale value. But aside from machine quality, making sure it is clean and in working condition will increase resale value – and having a complete service history will help you prove every cent it is worth.