Heavy equipment has transformed such industries as mining and construction, enabling teams to work more productively and efficiently without requiring as much investment in manpower. Sooner or later, heavy equipment breaks down, becomes worn out, or simply grows outdated, requiring equipment replacement. Buying from machinery auctions or equipment auctions can be an advantageous way to replace equipment, or to expand your current equipment lineup.

Benefits of Buying from Machinery Auctions?

Some of the most significant benefits to buying heavy machinery from an auction include:

  • Buying at auction can help you maximize your bang for buck. Heavy equipment is essential and incredibly valuable, but it also represents a sizable investment on the front-end. When you buy at auction, you can generally get high-quality equipment for less than the retail value, allowing you to stretch your equipment budget. (This is particularly true when you seek affordable heavy equipment financing; more on that in a moment.)
  • Buying heavy equipment from an auction slows down depreciation. Not only does purchasing your machinery from an auction help you get it for lower prices, but it also limits the extent to which your equipment will depreciate. Keep in mind that when you purchase brand new equipment, it loses some of its value before you even use it. This isn’t the case when you buy high-quality used equipment. Buying from an equipment auction helps you avoid depreciation while still getting plenty of years of reliable service.
  • Auctions provide an opportunity to work with heavy machinery professionals. When you’re able to deal with knowledgeable and experienced auction professionals, it makes the entire equipment purchasing process more pleasant. Auctions allow you to avoid dealing with unknown or unvetted sellers, and minimize your risk of fraudulent transactions. Also note that auctions do not involve heavy sales pressure or haggling. You can simply place bids on the equipment that best meets your needs.
  • Auctions provide a wide range of equipment types. Another benefit to buying from a heavy equipment auction is that you can preview a wide range of machines and vehicles that may not be available from your local equipment retailers. For example, you will have better luck finding older models that are still reliable, and you’ll also be able to compare different types of equipment that perform the same basic function.
  • Auctions can allow you to take home your equipment right away. A final benefit to purchasing your machinery at auction is that, in doing so, you can usually head home with your new equipment in tow, rather than having to wait a matter of days, weeks, or even months for new machinery to be delivered. For construction teams that are pressed for time, auctions provide something akin to equipment on demand. Purchasing new equipment can have a very long lead time from order to delivery, not to mention the equipment is worth a lot less immediately after you have taken posession. Auctions allow you to get the equipment quickly and not losing value in the process.

Benefits of Heavy Equipment Auction Financing?

Auction financing offers a number of perks, including:

  • You can get financing simply by filling out a mobile friendly online application
  • For smaller financing amounts (anything up to $500,000), you won’t need to supply financial statements.
  • You can get financing in many different amounts, depending on your equipment needs.
  • You can get flexible pay plans, including six-month deferred payment options.
  • At BNC Finance, our services include soft-cost financing for auction fees and shipping/freight.
  • With auction financing, you can bundle several pieces of equipment into one schedule.
  • You can also get pre-approved prior to auction, increasing your buying power.
  • You can get up to 60 months on used equipment.

PreQualify for Auction Financing

At BNC Finance, we have a wide range of programs for all credit types and business sizes. We are happy to provide top-tier competitive rates, challenged credit programs, revenue-based programs, equipment lease programs, and no age restriction on used equipment programs.

Learn More About Auction Financing from BNC Finance

Do you have additional questions about heavy equipment financing? Find out which programs you qualify for. Reach out to the team at BNC Finance at your next opportunity.