Whether you are new to the industry or have been doing business in construction for a while, it is important to arm yourself against scammers. The construction industry is no stranger to scams. Make sure that you learn how to protect yourself and your business from scammers by taking all the necessary precautions.
Purchase Equipment from Reputable Dealers
When you are buying equipment, you may feel like making a quick purchase and being done with it. However, it is important that you resist that urge in order to avoid any potential scams. You need to be extra careful when purchasing heavy equipment such as a CAT 140M3 motor grader.
If the seller will not let you see the equipment or communicate openly through normal channels, something might not be right. Also, be on alert for sellers who attempt to route transactions through third party payers or try to get your bank information. It is best, however, if you purchase equipment from reputable dealers whom you trust.
Be Extra Careful When Purchasing Equipment Online
Finding equipment through online mediums may seem easy, but it comes with its own drawbacks. You need to be extra careful when you are purchasing equipment online to avoid getting scammed by someone. Make sure that you ask for references from other satisfied customers before you make a purchase online. Also, keep a record of the seller’s contact information so if any problems arise you can at least contact them and try to resolve them.
It is also essential that you document the purchase. Make sure that you get a receipt from the seller for the amount that you are paying for the equipment and see that it includes the condition of the equipment at the time of the purchase. Having these documents will help you if there are any problems in the future.
Go With Your Gut
If you are purchasing equipment from unverified sources or from someone who does not seem reputable and you sense that something is off, you should go with your gut and walk away. When you are dealing with online transactions and strangers, it is important to learn to trust your instincts. Even if you are not able to figure out exactly what is wrong, there is no harm in slowing down and thinking about the transaction once more.
Purchase Equipment from Established Dealers
Independent dealers are usually honest in their dealings, and it is very rare to hear about cases where they have defrauded buyers. Even when it does happen, those occurrences are mostly isolated incidents. Usually, local communities have dealers that are established and well known by the members of the community. Their reputation and the trust they have built is the reason that they remain in business over the years.
Bill of Sale
When you purchase equipment, make sure to get a written bill of sale from the seller. Having proof of the transaction is not just good business practice. It is also really important if there are any problems down the line.