As equipment fleets age, decisions on whether to repair or replace equipment are inevitable.
Several factors can help you determine whether to repair or replace:
- Resale value – Obtain a quote to trade in the machine.
- Repair costs – Secure a quote for repairs including replacement parts.
- Estimated downtime – Determine how long the repairs will take and its affect on your job.
Do the financial analysis and be realistic about the life of your equipment. If you opt for replacement, consider:
- Current financial climate – Watch for incentives / favorable interest rates.
- Higher resale value – Cat® equipment often retains a higher resale value.
- Used or rental equipment option – Used warranty can be similar to new.
For more guidance about whether to repair your existing equipment, rent, or buy new or used, contact your local Cat dealer.