What is in this article?:
Paul Hendrix, equipment pricing analyst for IronPlant, provides these eight tips that could save you from a lemon. If you don’t know what to look for, you may end up bringing home a machine that costs you more than if you bought a new one, Hendrix says. You either need to hire someone to inspect a vehicle or train yourself in how to assess the equipment.
3. Know what similar assets are selling for
Research the market value of the product over the course of several months so you don’t pay more than it is worth. Hendrix says the Internet can be a good source of information. TractorHouse.com and Fastline.com are two resources. Look at the asking price for the machine and compare it to the prices paid at auctions. Factor in differences in how they are equipped.