What Do Contractors Prefer When Buying Equipment? Survey Revealed

Buying used or new heavy equipment is a series of considerations and preferences that buyers never omit. However, sometimes, these indicators fluctuate due to the economic and political instability in the region. 

In a recent survey revealed by the Equipment World says many hidden truths about the preferences of equipment buyers. The survey results help contractors and other newbies to make better decisions regarding their next equipment purchase. Most commonly, the brand, price and brand loyalty took the lead in the survey among potential equipment buyers. 

Brand and Price stand out in the decision-making process

It is not even a surprise that equipment buyers prefer price and brand too while buying whether new or used equipment. The survey report extensively showed that the equipment purchases were greatly influenced by the prices of the equipment regardless of the type and model. This has made things more interesting in the report as 18% of respondents said that they prefer prices over anything while buying heavy equipment.

Price may be an important consideration, but brand loyalty is also quite important. Among all the respondents, 13% of contractors buying heavy machinery and 17% of contractors buying pickup trucks cited brand loyalty as a major factor in their choice. This pattern suggests that contractors are likely to remain loyal to companies they have a good relationship with and have used in the past. 

Relationship with the Dealer is a second major factor

The relationship that contractors have with dealers is another important consideration when purchasing heavy equipment. 

The Survey outcome says that 14% of respondents who were buying heavy equipment prefer a relationship with the dealer while buying heavy equipment. This is consistent with the difficulties involved in maintaining and servicing sophisticated gear, where having a strong dealer network can be quite beneficial.

Other categories see a minor decrease in the prominence of this factor. Just 11% of respondents said dealer relationships were important for pickups. A dealer relationship was deemed significant by 12%–14% of contractors in categories such as compact equipment and vocational vehicles.

Brand loyalty keeps balance in the market

The majority of contractors compare brands before buying equipment, which is one of the survey’s most intriguing outcomes. For every type of equipment, more than half of contractors indicated they usually compare at least two brands.

When it comes to buying vocational trucks or other Heavy Moving Machinery, this trend is most noticeable, 70% of contractors stated they compare at least two brands. This percentage somewhat declines for pickups, when 55% of respondents indicate they compare brands.

People say that buying used equipment is quite a delicate and risky process so they only rely on their trusted dealers and cannot try different ones each time. Being scammed by dealers is one of the biggest fears that people feel. They also stated that the trusted dealer understands their need and they do not have to go through again and again from scratch explaining their needs and requirements. 

Some contractors prefer only one brand for every purchase

Even though most contractors look at several brands, some do stick to just one. Of contractors who recently purchased heavy equipment, 23% indicated they looked at just one brand. 

Similarly, 19% of consumers buying small equipment concentrated on a single brand. On the other hand, 41% of contractors only gave one brand consideration when making their most recent purchase, pickups.

Surprisingly, just 15% of contractors were considering a single brand when it came to vocational vehicles. Rather, 41% of respondents claimed to have compared two brands before making a purchase. This suggests that contractors look into a wider range of options when it comes to vehicles.

Maintenance and Aftermarket Parts

The decision-making process is mostly influenced by price, brand, and dealer relationships, but it also takes into account other, if smaller, considerations like warranty, ease of maintenance, and availability of aftermarket components. The long-term operating problems contractors have with their equipment are highlighted by the 8%–10% of contractors who stated these factors in their decision-making process.

Takeaway

The survey’s findings provide detailed numerical insight into the elements that contractors consider most importantly when making equipment purchases. While price is still the most important factor, dealer connections and brand loyalty are also quite important. Particularly when purchasing compact equipment and vocational trucks, contractors frequently weigh several brands, nonetheless, many still choose to stick with reliable brands because of their favourable prior experiences. When making these important purchases, contractors ultimately try to find a balance between cost, quality, and service.

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