Every repair situation has its own unique set of challenges. How do you decide what the best course of action is? Working through these four critical questions will help you determine the best option to meet your worksite needs and your budget.
How long will you continue to own this equipment?
This is important because the age of your equipment is the largest single determinant of market value. The longer you own equipment, the longer you have to earn returns on what you invest to keep it running.
So, in general, the closer you are to selling or replacing the equipment, the less likely you are to make large repair investments, because you won’t have ample time to recoup the investment.
On the other side of the continuum, you may decide you will be keeping the equipment for the long haul and that choosing repair options that will turn the clock back and add running time is a better decision for your business.
How many hours do you typically use this equipment?
When it comes to repairing machines that are primary production machines and accumulate high hours, you really have two priorities. The first is minimizing downtime—you need repairs to be completed quickly, because the cost of downtime is high. Second, you want the repaired machine to be highly durable and reliable because it is a machine that you work the hardest. You want the strongest and longest lasting replacement components to avoid a repeat repair performance.
On the other hand, if this is a utility machine, components don’t work as long or as hard. Because a utility machine works fewer hours, downtime costs less. You may be able to afford more time in the shop and choose more economical part options.
What repair price are you comfortable with?
The next critical factor you want to consider is Affordability. Because cash flow is fluid, a repair option you couldn’t consider at one time may be the ideal solution this time.
If the repair is something as simple as replacing hydraulic seals, you may be able to tackle it yourself. Many OEMs create kits for high wear parts that make your job fast and easy. If the repair is more complex, you may be better off to take advantage of the experience of certified technicians.
Warranty can also be a factor in the affordability decision—Cat parts, for example, have a 12-month warranty so you can feel confident with every repair.
What kind of turnaround time do you need in this situation?
Is the impact of downtime so great that getting back to work quickly is the only thing that really matters? If the fastest turnaround option isn’t something you can afford, do you have a back-up machine? If you have the dealer make the repairs, can you negotiate a rental machine?
If production can continue, you may be able to choose a different repair option that takes more time, but comes in at a lower price point.
Your Cat dealer has a wide range of solutions designed to give you the flexibility to find repair options that give you exactly the value you’re looking for. Explore your options.