Regardless if you’re a small shop or a big manufacturing organization, there’re always two options when it comes to buying industrial equipment: used or new. So, what are the advantages of going with used equipment?
Shorter Lead Times
Every now and then, the need for industrial machinery crops up suddenly and it’s important to address it right away. Used equipment is generally always in stock and ready for shipment, while new industrial equipment can take up to 8 weeks to acquire. If and when the need arises, many businesses opt for used equipment given how shorter lead times minimize downtime.
With regard to value and cost, industrial equipment is much similar to cars. Once the new equipment is used, it significantly depreciates – in the same manner, a new car starts depreciating when you leave the lot. Purchasing used equipment suggests somebody else has already carried the initial cost of the equipment, which enables the equipment to be sold at a more affordable price. The decreased cost of the equipment means the project will be kept under budget.
Faster Return on Investment
Used equipment guarantees a quicker return on investment compared to new equipment. Due to decreased costs and shorter lead times, a machine can be bought and used in the production line in just days. New equipment means increased costs and longer lead times, hence the procedure of getting the equipment to your place can take months. Shorter lead time + reduced costs = faster ROI!
Inspect Before You Buy
When buying used equipment, you are typically given the opportunity to check the equipment so that you know exactly what you’re getting into. Used equipment generally comes in the same condition you examined it. However, new equipment is often built after making a down payment or placing an order.
Maintain the Same Models
If there are certain equipment in your place of work that requires replacement, it will be convenient for the machine in question to be replaced with the same one or one identical to it. When you find that the manufacturer isn’t producing that particular model, the best course of action would be to get a used one. It minimizes training costs and is more convenient.