Use it or lose it.
The phrase itself strikes fear in the heart because we humans are predisposed to fear the idea of loss. So, when the end of a fiscal year rolls in and business managers see unused budget still lying temporarily on the table, they scramble to spend it recklessly, so as not to lose out on the sum altogether.
This mindset is not hard to understand. Nobody’s patting them on the back for spending less than the sum allocated. The perception, rather, is that they didn’t need it in the first place. Which in turn means the next budget is in danger of getting streamlined.
However, the spending – that often involves `good-to-have’ items – can be an unnecessary waste of money. Improving the appearance of the office, for example, with new furniture and fresh carpets and paint is always nice. But not really necessary, when the foundation of the business itself can be strengthened with the acquisition of things like heavy equipment.
A lot of customers come to us at Custom Truck One Source to purchase equipment with their use-it-or-lose-it money because they’re thinking strategically. And it’s a smart move for all of these reasons:
# 1: A Stitch in Time…
They realize that the equipment they are currently using can require expensive repair costs in the future. So instead of taking a short-term view and not fixing what’s still unbroken, they are being proactive by purchasing new equipment while they have some expendable cash handy. Unexpected breakdowns mean delayed completion of projects, angry customers and of course, waste of time and money.
# 2: Upgrade Advantage
As technology advances, so do the latest models of heavy equipment that incorporate modernized features to improve their performance. Efficiency improves as a result and the save on manpower, time and overhead costs add up to benefit the company’s bottom line.
# 3: A Chance for a Do-Over
Not all equipment is made equally. Matching needs to the attributes of a model is paramount for the smooth running of a business, and here is a golden chance to correct mistakes made in the past while choosing a piece of equipment. For example, you may have purchased a dump truck that is now proving to be too small for your operations and having to make multiple trips. Now’s your opportunity to buy a truck with a bigger dump body!
# 4: Enhanced Safety
New equipment promises a safer working environment. And safety is the number one concern for any business that employs crews to work with heavy equipment. Other than the fact that state-of-the art equipment often carries enhanced safety features, there are significantly less risks of anything breaking down while a piece of machinery is in operation, endangering human lives.
Contact Us at Custom Truck One Source and we will help you make a smart decision on how to spend your Use It Or Lose It Money!
As the first true single-source provider of specialized truck and heavy equipment solutions, we have a vast inventory of heavy equipment, ready and waiting on the ground. We offer customized financing options and will work with you to make sure we’re meeting and exceeding your expectations as a valued customer.