These days, heavy construction equipment is manufactured with features that cut down on costs or help you save money through deliberate machine design. OptiShift technology on wheel loaders and integrated work modes on excavators are a couple of Volvo examples.
But did you know one of the best ways to cut your costs even further is by utilizing services that either complement your machine’s performance or lower your owning and operating costs long term — or both?
Here are four ways heavy equipment services can potentially lower costs to boost your profitability:
- Telematics and Insurance Rates: More and more insurance providers are looking to use telematics system data to help identify the cause of accidents, confirm equipment is being used safely, even locate and recover stolen machines. Telematics can be much more than preventing unnecessary downtime and helping enhance operator performance. Talk to your insurance provider to understand if telematics programs like Volvo ActiveCare™ Direct can lower your monthly premiums today, or in the near future.
- 1000-Hour Engine Oil Intervals: Advancements in Volvo CE lubricant technology, coupled with our new high-performance engine filters, cut engine drain intervals and costs on your machines by up to 50%. Volvo’s new VDS 4.5 15W-40 and 10W-30 lubricants are formulated to better suspend contaminates and maintain viscosity. These construction equipment oils are proven to resist sludge formation over the full 1000-hour drain interval. Lengthening the time between drain intervals gives you tangible cost savings in labor and materials — plus you increase machine uptime to get more done.
- Operator Assist Programs: Most operators are really good at their job — but even the best of the best can’t match the precision of machine control systems like our Assist programs. For example, on-board weighing ensures you’re moving enough material, but not too much which can damage machines. Real-time maps monitor the whereabouts of your heavy equipment, vehicles and visitors daily to improve safety, plus they provide accurate machine positioning to help monitor on-site traffic and navigate the site more efficiently. And these are only the beginning — new apps are added frequently to help operators improve their performance and make you more money.
- Financing Bundles: When you buy a new or used piece of heavy construction equipment, depending on the lender you choose, taking advantage of construction equipment financing bundles might be an option. Some lenders can put together customized packages so you get a more well-rounded financing structure with benefits — Volvo Financial Services, one of our sister companies within the Volvo Group, is a great example. You can learn more about the value of finance bundles on our blog.
Total cost of ownership is a critical factor to consider when purchasing a new or used machine. Be sure to consider the savings you can realize through features in the iron, but also consider the construction equipment service offerings that make owning that piece of equipment a valuable investment.