The Benefits of Buying 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. There are many businesses who always want new equipment thinking that they are more efficient, easier to find, and can be maintained cheaply. New industrial equipment and machinery can be very expensive and this is the reason why many businesses are not able to pursue their plans of purchasing new ones. So, these business owners use their other option of purchasing used equipment.
When equipment and machinery are manufactured by OEMs, their design is really meant for the equipment to last a long time. Today you can find used industrial equipment and machinery that look like new which are sold by businesses who have made changes in their production strategies or have their plants closed down for some reason. And these equipment and machinery are usually sold at the fraction of their cost when purchased brand new.
There are some factors that you need to consider when purchasing your used industrial machinery and equipment which can help mitigate the risks associated with buying used equipment. But before we look at these considerations, let us consider the benefits of purchasing used equipment first.
Purchasing used equipment is less expensive than purchasing brand new ones. Depending on the quality and condition of the used equipment, this price difference is very great.
The lead times are often very long when purchasing new equipment from an OEM or machinery dealer. 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. You can find used industrial equipment that you can purchase and receive fast. You can have it and use it quicker than if you purchased a new one. When it comes to lead time, used equipment takes only a few weeks, but new equipment can reach up to six months.
Remember that equipment and machinery depreciation is highest in the first 12 months of a sale which brings the price really down. It will bear the same value for at least five years. Because of the lack of depreciation after the first year, used industrial equipment can be resold for the same price it was purchased on the used market.
Here are the things to consider when buying used industrial equipment.
Make sure to research your source, that it is a reputable reseller. You can find help in online reviews about the company.
Make sure that the industrial equipment and machinery you purchase is as advertised and work properly.
if you bring a machine operator to examine the equipment, he can find out signs of machinery maintenance.