Why Extended Service Contracts Make Sense for Heavy Equipment
When buying a car today, many customers opt not to choose an extended warranty. In some ways, this is understandable. For one thing, car owners are keeping their cars for shorter periods of time, and for another, generic spares and cheaper services make repairing damage much more affordable.
However, it’s a whole new game when a person is considering purchasing heavy equipment. Heavy equipment generally has been built for a longer lifespan; It contain harder working parts, and when broken, can cause a break in a company’s productivity which can cause a loss of revenue.
So, before you spring into the purchase process, you’ll probably want to understand why an extended warranty makes sense for heavy equipment purchases.
- Heavy equipment has a longer life span and will be working hard for you for many years. Whereas, a car you upgrade every few years your equipment will last for decades
- It is much harder working than the average vehicle. Even though they’re designed to lift tons of rock, shift mountains of sand, or otherwise, literally, move mountains, heavy equipment is still under much more pressure than your car. That means that there’s a greater chance that something will go wrong, just after your regular warranty has expired!
- Then there’s the cost of heavy equipment. There’s no denying that heavy equipment is a major investment – an investment that you want to protect. When you buy it, you will need to justify that the ROI you get from that equipment is sufficient to justify the cost. Therefore your equipment will need to offer the maximum in productivity, over the maximum time.
- Unlike cars and other vehicles, your options when it comes to heavy equipment repair are limited. Most of the time you need to take your equipment to a certified dealer and not to a cut price mechanic, and you can’t cut corners by using generic parts.
- When it comes to extended warranties, you must consider that for as long as your machine is off site, you’re losing productivity. Whether you own an earth moving company, a construction business or anything else, you know that productivity, and sticking to your project program, is everything. Time is, after all, money.
An All Round Good Investment
The truth is that even though an extended warranty will cost you a little more now, it will save you a lot in the future. Having this type of security allows you to plan better, eliminates unnecessary delays in productivity, and ensures that when things go wrong, you don’t have to spend a fortune solving the problem.