When it comes to purchasing industrial equipment for your manufacturing company, you are often faced with the decision between choosing new or used equipment. To help you make a more informed choice, here are some of the key benefits of buying used equipment.
- Shorter Lead Times
When you are in urgent need of industrial machinery, you want to ensure that you get it as soon as possible to minimize downtime. However, new machinery generally has a lead time of at least 8 weeks, which is a long time when running a business. On the other hand, used equipment is already in stock and ready to be shipped right away. So, if the sudden need for industrial equipment arises, it is best to go for used machinery. If you are looking for affordable equipment from auctions, surplus.net would be best for your needs.
- Reduced Cost
Just like a new car, which immediately depreciates in value the moment you drive it off the lot, new industrial equipment significantly depreciates in value the moment it is operated in a factory. However, when you choose to purchase used equipment, you avoid the initial depreciation meaning that you can resell it later at a better value. The lower cost of used machinery and better-retained value will greatly benefit your finances.
- Quicker Return on Investment
Compared to new equipment, used equipment offers a faster return on investment. Thanks to the shorter lead times and lower costs of used machinery, it can be bought and put into operation within a few days. On the other hand, new equipment not only comes with a higher price tag, but it also requires longer lead times. Thus, it can take months to get the machine to your facility.
- Inspect Before Buying
When buying used equipment, you typically have the opportunity to physically inspect the machine and see what exactly it is that you are getting before paying for it. On the other hand, new machinery is usually built once you place an order or a down payment.
- Maintain the Same Models
In case you already have machines in your factory that are in need of replacement, it will be more convenient to just replace them with similar machines. If your desired model is no longer available on the market, going for used machinery is your best option. By replacing the machinery with a similar or the same model, you help minimize the training costs.
