Safety equipment is essential for the gas and oil industries. But is it a good idea to buy used safety equipment online?


Published On March 01, 2023

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The oilfield equipment market is expected to be worth $144.43 Bn by 2027. The market size was at $115.36 Bn in 2019 and has continued to grow each year.

If you are an equipment buyer, you may be considering used safety equipment. This is a common option that pops up since there are so many used options available.

But is it safe to buy used safety equipment online? This is the million-dollar question that everyone wants to know, and there are a few answers.

Keep reading to find out if it is a safe option to buy used safety equipment online.

Why You Should Buy Used Equipment Online

If you are looking to buy oil industry equipment, you may be considering used options. This can be a great option since it is accessible and affordable for most people.

The used equipment market is booming online, making it easy to find what you need. Here are some benefits of buying used safety equipment online.

Better Prices

Gas industry equipment can get quite pricey when you are buying it new. The good news is that there are plenty of options online that are used.

This equipment requires a much smaller initial investment, making it budget-friendly. This can help out different companies that may not have a large equipment budget.

You can get your hands on more pieces of equipment and the latest safety equipment. Doing this without having to spend a huge chunk of money every time you need to buy something.

Avoid Depreciation

Industrial equipment is similar to vehicles since they begin to depreciate immediately. Within the first 12 months, depreciation will be quite steep and will slow down from there.

This means that your equipment is actively losing value once you buy it. This can be a big concern since you have made a huge investment.

You will take a hit on this equipment since its resale value will have gone down. That is why buying used equipment can be such a profitable decision.

When you buy this equipment used, you do not have that initial depreciation. This is not something you have to worry about once you have bought the equipment and started using it.

Good Value

Many people stray from used safety equipment because of its value. You may think that used oil storage equipment doesn’t have as much value as new options.

The reality is that the value of used equipment can be maintained. It is important that you only buy equipment that is still in good condition.

You do not want to invest in equipment that is on its last leg. You also need to make sure that you maintain the equipment once you have it.

As long as it is maintained, the value will be able to stay stable. You can even go the extra mile and have service records recorded.

These will come in handy in the future if you ever decide to resell that equipment. Prospective buyers will trust you more if they can tell that the equipment is in good shape.

Faster Options

Buying new industrial equipment can be quite a process. In most cases, this is not something that can be done within a day or two.

You may have to get a loan or haggle through the process of buying the equipment. When you choose to buy used equipment, you can do this faster.

People are usually eager to sell their equipment as quickly as possible. As long as you are willing to pay the asking price, the process should be straightforward.

This means that you could pay for the equipment and get access to it within just a few days. This is vital to companies that depend on these pieces of equipment.

You may have had something break down that you needed to use. Having accessible options can save you a great deal of money when unexpected issues occur.

Lower Insurance Fees

The cost of insurance is usually going to be lower for used equipment. This is because insurance is usually based on the equipment replacement cost.

Because of this, coverage is usually much cheaper, giving you a great deal. This can have a huge impact since insurance fees can start to add up quickly.

Why You Shouldn't Buy Used Equipment Online

Now that you know why you should buy used safety equipment, what are the downsides? It is important to understand both sides of this option.

When you buy surplus equipment, there are always going to be pros and cons. There is no one answer to this question since buying used equipment can pay off or not in some instances.

It is up to you to understand the pros and cons and to make your decision from there.

Aged Equipment

One big downside to buying used equipment is its age. The reality is that this equipment is most likely a few years old, if not older than five years old.

This is a downside since that means the equipment will have a shorter lifespan. In most cases, old equipment is not going to be as high value as new equipment.

This is why many people may worry about investing in used equipment for their company. It can be scary to invest in a piece that has already been working for several years.

Although, it is important to remember that not all used equipment is old. Some companies decide to sell their equipment a year or two after it has been in use.

Even old equipment has value if it has been well-maintained.

Unknown Issues

There is also the very understandable fear of unknown issues. When you are buying used equipment, you have to trust that it does not have any problems.

This is just like buying a used car, where you may be afraid of buying a lemon. The reality is that there are people out there who are trying to scam you.

That is why it is important to buy from a reputable source when it comes to used equipment. One great option is to buy used pieces through Fuelled.

This is a reputable company that is trusted by thousands of equipment buyers.

Outdated Options

Another issue to consider is the type of available options. In many instances, the only used equipment options can be outdated.

This is because companies are not buying brand-new pieces only to sell them a few months later. You may not have access to more recent models with better features.

In most cases, this is not an issue since the equipment may not be too outdated. Plenty of companies resell equipment after a few years, so they're still new.

But if you are looking for specific models, you may come up short.

What to Do When Buying Used Safety Equipment

If you have decided to buy used safety equipment, there are a few steps to follow. You need to make sure you do not jump into a decision without thinking.

The first thing you need to do is make sure you have all of the details about the equipment. They should be listed online but if it isn’t, you need to contact the seller.

You should look for these specific types of information:

  • Manufacturer
  • Year
  • Asking Price
  • Hours of Use
  • Model
  • Serial Number
It is also a good idea to get a track record of the maintenance of that equipment. There may not always be proof, but you can ask for an inspection.

This will help to give you peace of mind in knowing that that equipment is in good condition. You could also inspect it yourself in person when it arrives.

This is slightly less dependable since you may not be an expert when it comes to this equipment. The most important thing is to make sure you are buying from a reputable place.

Avoid buying from individual sellers in places online that you are unfamiliar with. If a deal seems too good, you may want to avoid it just in case.

Safety Equipment: Buying Used Equipment

If you are considering buying used safety equipment, you may not know if this is the right decision. Many people are cautious when it comes to used options online.

The reality is that there is no answer to this question specifically. It comes down to doing your research and making an educated decision that you feel comfortable with.

Are you interested in buying used safety equipment online? Contact us today at Fuelled for used oil and gas equipment options.