09 May Equipment Options in a Down Market.
Unless you have been living under a rock, you should know the recycling market has been in a downturn, recently it is showing signs of improving. Today on our blog I want to discuss equipment options during such a downturn in pricing. Recently Ely Enterprises’ President Kenneth Ely spoke with Scrap Magazine about just such a topic.
The timing of downturns in the market may be unpredictable, but scrap yards behavior is not. “People first tighten their purse strings. Then, the demand for used equipment goes up to save money,” Ken Ely says. “When the good used equipment market dries up, they start making the transition back to new equipment because there isn’t any quality used equipment out there.”
With the recent upturn in the market, purchasers of equipment are starting to warm to the idea of purchasing equipment again. Buyers are exploring many options when it comes to equipment. Sellers are starting to get more creative with their offerings with financing and leasing options to purchase equipment, also rentals are starting to become better options for many buyers.
Next week we will continue this discussion with purchasing used equipment.
Don’t forget to visit our website at www.elyent.com and contact us at
Ely Enterprises, Inc.
3809 Broadway Avenue
Lorain, OH 44052