While new manufacturing machinery might be tempting on the surface, there are certainly benefits of picking second hand pieces instead.
If you are still undecided, here are 5 advantages that come with buying used rather than splashing out on new equivalents.
You can find a good deal online
While second hand equipment can hold its value surprisingly well, it has never been easier to bag a bargain thanks to the availability of marketplace sites where you can find everything from used lathes to modern grinders, routers, 3D printers and many more options besides at appealing price points.
The rise of the web-based manufacturing machinery marketplace has helped to boost competition in this segment and give buyers more bang for their buck, while sellers have less of a tough time finding someone to snap up their old kit.
You can pick and choose from modern features
Another advantage of buying used machinery is that while evolutions in technology do occur in this sector, they are not as frequent as in other contexts. This means that capabilities that are still considered cutting-edge will be present on older kit as well as brand new counterparts.
Used machinery can also offer you a suitable upgrade path going forwards, as brands tend to support their legacy products for longer.
You can skip the queue
Freshly ordered equipment can be so popular that the manufacturer struggles to fulfil its orders quickly enough to keep up with customer demand.
No such issue exists in the used market, since current owners who are looking to sell can usually ship your desired piece of machinery to you as soon as the transaction goes through. This saves you from having to sit twiddling your thumbs on a waiting list for months or even years on end.
You can buy rather than rent
If you only need a piece of machinery for a short term job, you might think that renting makes more sense than buying. However, if you buy used, you could harness the equipment for a fixed period and then sell it on yourself, recouping the vast majority of the cash you put down initially and ultimately saving yourself even more money.
The secondary perk to this approach is that it means you will not be lumbered with the ongoing ownership costs that are associated with operating and maintaining the machinery, or the inevitable depreciation it will suffer.
You can minimize insurance expenses
Insuring your manufacturing equipment is essential to cover your business against the costs that can arise if accidents occur or faults are developed.
Insurance premiums for new machinery will be higher because they are based on how much it would cost to replace the product outright, so once again the affordability of used counterparts comes into play.
When buying used you do need to be more careful to consider the specs, features and condition of the machinery you choose, but even with these aspects factored in, it should still be an attractive proposition for business owners.