Reasons to Buy Used Industrial Equipment and Machinery
There are two options that businesses face when they are thinking of buying industrial equipment and machinery. It is either to buy new equipment or used ones. The reason, why most businesses choose to buy new equipment, is that they think that new equipment is easier to find, more efficient and cheaper to maintain. But sometimes it may be too expensive to buy new equipment. Thus, business owners are left with the option of purchasing used industrial equipment and machinery.
The good news is that most OEMs or original equipment manufacturers design their products to be long lasting. Even if equipment has been used for years, there are many businesses that sell their used but still very new industrial equipment and machinery due to plant closures or large businesses changing their production strategies. These businesses sell their used equipment for a small fraction of their original cost.
When you are purchasing used equipment, you need to consider a few factors that can help mitigate risks associated with buying used equipment and machinery. We will look at the factors to consider when buying used equipment and machinery after we have looked at the benefits of doing so.
Purchasing used equipment is less expensive than purchasing brand new ones. There is a very great difference between the two costs which is also affected by the quality and condition of the used equipment.
If you purchase new equipment from an OEM or machinery dealer, you can be faced with long lead times. The reasons for the long lead times could be the OEMs not having parts or materials on hand, shipping delays, not having enough staff to meet deadlines, and a lot more reasons. But if you buy used industrial equipment it can be available immediately. You will be able to possess your used equipment faster than buying a new one. It will only take a few weeks’ lead time on used equipment while it takes up to six months for new ones.
n the first 12 months of a sale, equipment and machinery depreciation is highest. Then for at least 5 years the value of the equipment and machinery is the same. If your equipment and machinery will be sold, the lack of depreciation after the first year will help you to resell it as the same price you had bought it in the used market.
Below are the considerations to make when buying used equipment.
Make sure to research your source, that it is a reputable reseller. Reading online reviews will help.
Make sure that the industrial equipment and machinery you purchase is as advertised and work properly.
Unless you are simply buying it for parts, bring an actual equipment operator to examine the equipment and look for signs of maintenance.
The considerations above will help you find the best industrial equipment and machinery to buy.