In the construction industry, there are many types of equipment required to be used and maintained. A few common examples include excavators, backhoes, bulldozers, graders, trenchers, loaders, skid-steers, and graders among many others. However, these heavy pieces of equipment are subject to constant use and abuse, which is why they inevitably require maintenance from the general wear and tear over time.
When these equipment pieces are damaged, the most logical course of action is to get them repaired or replaced. The question is: which one is a more viable solution? In this article, we will share five crucial factors to help you determine the best option:
1. Overall costs
When deciding between repair and replacement, the cost is a vital aspect of your decision. For the most part, equipment replacement is more expensive than a repair, yet you should also consider how you will save up in the long run, current deals available and your budget. If you resort to a fix and you will still have to deal with constant repairs in the future with costs adding up to near replacement price to keep the old equipment, then a replacement makes much more sense. However, if investing in new equipment is too costly and will financially cripple your operating budget, then a repair might be the right choice. In the end it all comes down to math and some cost estimating.
2. Equipment availability
Another vital factor is the availability of your equipment, as this can significantly impact your construction timeline. If you are currently pursuing a renovation or construction project and the damaged equipment needs to be immediately fixed, getting an urgent replacement may be a more viable option. Otherwise, you can resort to having an equipment rental in the meantime while getting your heavy machinery repaired.
3. The scope of the repair
It is a wise move to know the repair’s scope and see whether it’s worth your time and money. When it comes to this, consider how the repair work will ensure that your heavy equipment returns to its shape and working condition. Most importantly, ensure that it will last for as long as possible; if not, getting a replacement is a more practical choice. Many times, this question also circles back to cost, normally we would not spend the same or close to a new machine to save an old one unless there were extenuating circumstances.
4. Model type
The initial consideration is the model type of heavy equipment you have and need, which will influence your decision. If you do not have the right model suited for your construction work, it might be wise to invest in a new one. If it is already old and outdated but has a high utilization perhaps it is best to purchase a newer more reliable and advanced model. Otherwise, have your existing equipment repaired instead, as it may still be worth keeping and maintaining for in the long run, some times your older equipment could be the more reliable option as well with aftertreatment systems causing a whole slew of issues in cold weather.
5. Other considerations
Apart from the points mentioned, there are a few other considerations to factor in. Below are some of these:
- The overall operational efficiency of your construction project
- The current market value of the heavy equipment
- The expectation of future downtime and repairs
- The cost of mobilization and setup
- The workers’ knowledge and skills in using the invested heavy equipment
There is no doubt that equipment decisions always impact the bottom line. To decide whether to get a repair or replacement, be sure to consider the five key factors outlined above. With all these in mind, you will make the right decision for a long-term equipment management strategy that will contribute to your business growth, profitability and sustainability!
Are you looking for heavy equipment repairs? Then you’ve come to the right place! We’re a heavy equipment and truck repair shop in Edmonton, AB, that also performs vehicle inspections and maintenance services. Get in touch with us today for a quote!