PDA

View Full Version : Ironplanet


qps
01-05-2008, 02:24 PM
I did a search with not much luck, has anyone here purchased equipment from Ironplanet and if so how was the experience???? some of the equipment seems to sell for a decent price.

ksss
01-05-2008, 02:34 PM
I have spent about 30K on IronPlanet total. I have also sold attachments on the site as well. I have nothing but good things to say. The prices are usually good, like any auction all it takes is one other guy to spoil your good deal. The biggest issue is the trucking cost. You have to be very careful. Living out here in the sticks makes it worse, most equipment seems to be on the other side of the Mississippi.

RockSet N' Grade
01-05-2008, 02:44 PM
I too have purchased from Iron Planet. The piece I bought was exactly as advertised. The handling of the sale, transfer of money, arrival of piece was professional, painless, and on time. I would do it again.......and have tried, but have been outbid on my last 4 attempts. As Ksss mentioned, freight/trucking can be a real deal breaker......become familiar with trucking prices before you buy. As an example, the bids I got for one piece ranged from $500 to $1,800.

qps
01-05-2008, 02:55 PM
Thanks guys...:drinkup:...not to change topic but do any of you do demolishing??? its almost impossible to get insurance here for it and the licensing requirements from the city are....very hard to say the least to obtain...one would have to do a great deal to make it worth it...

ksss
01-05-2008, 03:05 PM
My insurance carrier does not have an issue with it. The City requires a permit but does handle any type of licensing for it. Living in a big town probably has a lot to do with it. Is there an area just below full scale demo that is not so restricted or is it any type of demo? Maybe you can get your feet into it without having to fully commit.

RockSet N' Grade
01-05-2008, 04:00 PM
Insurance is a funny animal........ask your agent for different "titles" that they can insure. In some of their titles/classifications you can do light demo as long as it is not the primary scope of work. Or, you could partner-up with a guy who has a full blown demo-excavation license/insurance on a per job basis.

dirtworksequip
01-05-2008, 07:45 PM
I've purchased 5 different machines with a value of $240,000 over the last few years through ironplanet. Three machines were as good or better than the inspection report and I was 100% satisfied. One had a lot of minor things wrong that the inspector should have seen, and were fixed by myself for a little over $500.00. The LAST machine I bought was a 2004 Caterpiller 287B that had the boom bent. It was not reported in the inspection report, not visible in any of the inspection photos. I noticed it while it was still on the lowboy that was delivering the machine,so it wasn't like something that should have been missed by someone doing a thorough machine inspection. I promply filed and followed ironplanets "ironclad guarantee" instructions for a claim. After going round and round with one of their representatives I was turned over to a higher up. They even went as far as to block my email. I had to change to another email address to slip by them to gain access again. It turn out to be a nightmare and a big waste of my time. The ironplanet's "ironclad guarantee" isn't worth the time it takes to read it. I got absolutely no satisfaction on correcting the problem. The only suggestion I can make is to look at and scrutinize any photos of a machine you are interested in. And remember that the inspection report is only as good as the inspector. Would I buy from the ironplanet again...........probably,but I will do so with great caution. The online auctions seem to bring higher prices than in person auctions and even with an "ironclad guarantee" an auction machine is "as is,where is"

Sincerely, Dirt

ksss
01-05-2008, 08:03 PM
That is good to know. I have probably put more faith in the guarantee than I should.

dirtworksequip
01-06-2008, 09:50 AM
ksss, yes I was 100% satisfied with the first 3 machines I bought. I always looked over the pics real close trying to discern anything that may have been missed by the inspector. The first three were pretty good only missing a few minor things which is understandable. The forth machine I just chalked up to a somewhat laxed inspection an I just ate the $500+ extra expences to make the machine right. The 5th and last machine was just totally misrepresented.............maybe not intentionally,but never the less it was not a correct inspection. I pressumed that the ironplanet would make it right. Needless to say they did everything they could to NOT make it right. I really thought they would at least refund the commission I had paid. NOT! I figure they are so big that one little guy like me isn't going to make a bit of difference in their bussiness. Just another life lesson learned I guess.

Sincerely, Dirt

qps
01-06-2008, 11:41 AM
That is good to know. I have probably put more faith in the guarantee than I should.

I was looking at the used dozer market....there are some good deals to be had..low hour machines at 1K and under for half the price....

dozerman21
01-06-2008, 11:53 AM
So how does a person go about purchasing a piece of equipment if they have to finance the machine? I'm sure you have to have some kind of line of credit, and then is it up to you to go through an independent bank to get the loan? I've only bought from a dealer, but I'm considering this too for future machines.

qps
01-06-2008, 01:01 PM
So how does a person go about purchasing a piece of equipment if they have to finance the machine? I'm sure you have to have some kind of line of credit, and then is it up to you to go through an independent bank to get the loan? I've only bought from a dealer, but I'm considering this too for future machines.

I would have to borrow the money from KSSS, you would just need to write a check:clapping:

AWJ Services
01-06-2008, 01:08 PM
If you have good credit it is really not a problem.
You just contact the credit provider of your choice and tell them what you would like to buy and approximately how much it will be.
They will do a soft check on your credit and let you know if it will be a problem.

Once you make contact with them they will never loose your number.LOL
I have 4 that call me every quarter to check if I need anything.
The Interest will be anywhere from 9 to 11 %.Some will be higher than that.
Be careful about the ones pushing "Special Leases"
Ask for total payout through the term of the loan and discuss with your accountant what effect it will have on your taxes.
Look at the "WHOLE PICTURE".

The good thing about Iron Planet is that you can take advantage of different markets.
Here in Georgia the Building industry took a dump which has resulted in many low hour Cat 953 Track loaders at good prices.
Same with Dump trucks here.

ksss
01-06-2008, 04:28 PM
I would have to borrow the money from KSSS, you would just need to write a check:clapping:

Yea, well I go to the Bank of Rigby. They give you a free TV with each loan (some kind of deal they worked out, like a royalty of sorts). Needless to say I have a TV in every room. My Direct TV bill is a killer.

qps
01-06-2008, 04:36 PM
Yea, well I go to the Bank of Rigby. They give you a free TV with each loan (some kind of deal they worked out, like a royalty of sorts). Needless to say I have a TV in every room. My Direct TV bill is a killer.
You guys got a bank:cool2:

dozerman21
01-06-2008, 04:39 PM
If you have good credit it is really not a problem.
You just contact the credit provider of your choice and tell them what you would like to buy and approximately how much it will be.
They will do a soft check on your credit and let you know if it will be a problem.

Once you make contact with them they will never loose your number.LOL
I have 4 that call me every quarter to check if I need anything.
The Interest will be anywhere from 9 to 11 %.Some will be higher than that.
Be careful about the ones pushing "Special Leases"
Ask for total payout through the term of the loan and discuss with your accountant what effect it will have on your taxes.
Look at the "WHOLE PICTURE".

The good thing about Iron Planet is that you can take advantage of different markets.
Here in Georgia the Building industry took a dump which has resulted in many low hour Cat 953 Track loaders at good prices.
Same with Dump trucks here.

You're not kidding about creditors losing your number. That's the worst part about buying used... if you have to finance it the interest rate can be a deal breaker. Unless it's a less expensive, older machine or you have enough in the bank to not have to finance. I think I would buy from Iron Planet though. The inspections seem pretty detailed, and most of the buyers seem satisfied. If only they offered 0% for 48 months!:D

ksss
01-06-2008, 04:41 PM
You guys got a bank:cool2:

Well sorta, it also is a Subway sandwich shop and a laundrymat. During the Summer they hold open air flea markets there. One stop shop, everything an Idahoan needs (money, food, clean clothes and polyester curtains for my red wood deck).

qps
01-06-2008, 04:44 PM
Well sorta, it also is a Subway sandwich shop and a laundrymat. During the Summer they hold open air flea markets there. One stop shop, everything an Idahoan needs (money, food, clean clothes and polyester curtains for my red wood deck).


Dang.....I'm so moving there...gotta spare room???? and a good plunger:laugh:

qps
01-06-2008, 04:46 PM
You're not kidding about creditors losing your number. That's the worst part about buying used... if you have to finance it the interest rate can be a deal breaker. Unless it's a less expensive, older machine or you have enough in the bank to not have to finance. I think I would buy from Iron Planet though. The inspections seem pretty detailed, and most of the buyers seem satisfied. If only they offered 0% for 48 months!:D

BOK is offering 0%

ksss
01-06-2008, 04:48 PM
BOK is offering 0%


Word must have got out, 'cause I got several customers who are taking advantage of that rate.:hammerhead:

qps
01-06-2008, 04:50 PM
Word must have got out, 'cause I got several customers who are taking advantage of that rate.:hammerhead:

Did you see my new aviatar????

ksss
01-06-2008, 04:58 PM
Did you see my new aviatar????


Nice, Tim you should have stopped in when you got the photo. I would have treated you to authentic Idahoan cuisine (little high in starch but mighty tasty, Potato creole, Potato salad, Creamed Potatoes, Fried Potatoes, Potato on the half skin, you get the idea).

PS: The internet scares me sometimes.:dizzy:

qps
01-06-2008, 05:04 PM
Maybe next time....your a good sport...:)

AWJ Services
01-06-2008, 05:12 PM
You're not kidding about creditors losing your number. That's the worst part about buying used... if you have to finance it the interest rate can be a deal breaker. Unless it's a less expensive, older machine or you have enough in the bank to not have to finance. I think I would buy from Iron Planet though. The inspections seem pretty detailed, and most of the buyers seem satisfied. If only they offered 0% for 48 months!

Trust me someone pays for that 0% finacing.:)

Compact equipment is much harder to buy at the right price to make used work out for me unless the equipment has a lot of hours.
I searched for several months trying to find a good price on a used Takeuchi TL140.
I could not get my payment much lower than buying new.
Large equipment seems to be were the used works out the best in my opinion.

ksss
01-06-2008, 05:17 PM
Trust me someone pays for that 0% finacing.:)

Compact equipment is much harder to buy at the right price to make used work out for me unless the equipment has a lot of hours.
I searched for several months trying to find a good price on a used Takeuchi TL140.
I could not get my payment much lower than buying new.
Large equipment seems to be were the used works out the best in my opinion.

That and I think compact equipment just does not have the life expectancy of larger iron, no matter who makes it. So you end up going pretty new on the compact stuff which puts it close in price to new.

dozerman21
01-06-2008, 06:07 PM
Did you see my new aviatar????

LMAO!:laugh: I'm afraid to ask what you typed in Google to get that picture! That explains why KSSS gets all the free TV's...:clapping:


That and I think compact equipment just does not have the life expectancy of larger iron, no matter who makes it. So you end up going pretty new on the compact stuff which puts it close in price to new.

Compact equipment is much harder to buy at the right price to make used work out for me unless the equipment has a lot of hours.
I searched for several months trying to find a good price on a used Takeuchi TL140.
I could not get my payment much lower than buying new.
Large equipment seems to be were the used works out the best in my opinion.
I agree. It seems like the bigger, heavier, and more expensive a machine is, the longer the life span... for several reasons. It makes it hard to justify buying a used machine if you have to finance it at a high rate, not to mention the warranty that comes with a new machine. For me, it usually depends on whether or not it's an everyday machine, or if it will just be used occasionally, although I am checking the used machines more right now with the market the way it is.

RockSet N' Grade
01-06-2008, 08:15 PM
Wasn't there a movie about Idaho Potatoes?......oh shoot, forgot, that was Big Bubba's shrimp.....