Benefits of Buying Used Industrial Equipment

If you want to buy industrial equipment, you can buy new or used ones. Buying used industrial equipment has many benefits. Some of these benefits include the following: 

1. Used Industrial Equipment Have Shorter Lead Times Than New Ones 

If you need industrial equipment as soon as possible, consider buying used equipment. This is because used industrial equipment is often in stock and once you order it, the equipment will be shipped within the shortest time possible. Keep in mind that new equipment has a lead time of 8 weeks or more.  

So, when you need industrial equipment urgently, buying new equipment may not be ideal for you as you have to wait longer. In fact, those businesses that need equipment urgently choose used industrial equipment as their shorter lead times reduce downtime. 

2. Cheaper Than New Equipment 

The value of new industrial equipment drops dramatically after being used. It is just like when you drive a new car off a dealer’s lot and its value starts depreciating immediately. So, when you buy used industrial equipment, someone has taken the brunt of the drop in value of the equipment and you will get it at a cheaper price than a new one. This means that by buying used equipment, you will save some money and keep your project under budget. 

3. Faster Return on Investment Than New Equipment 

Used industrial equipment provides a faster return on investment as it has shorter lead times and is cheaper to buy than a new one. When you buy a used machine, you can start using it a few days after buying it. When it comes to new equipment, you will have to wait longer and pay more. You can get your equipment after some months. Always remember this; Shorter lead time + Reduced costs = faster ROI. 

4. You Can Inspect Industrial Equipment Before Buying 

When buying a used system, you will be able to inspect it and see how it works and how it looks like before buying. Used equipment will be delivered in the state it was in when you inspected it. With new equipment, you will place an order or make a down payment for the industrial equipment to be built. 

5. Used Equipment Can Help You Maintain the Same Models

When you have machines that need to be replaced, it is better to replace them with machines similar to them. However, sometimes the manufacturer may no longer be making the model you need. The good thing is that you may get a used machine similar to the one that needs replacing even if the manufacturer is no longer making that model. Replacing a machine with a similar model is both convenient and lowers training costs.