Manufacturing and industrial facilities often operate with tight profit margins, and as such, it shouldn’t come as much of a surprise that many facility managers buy used process equipment to save money. But how exactly does opting for used equipment provide financial benefits for your facility? Let’s take a closer look.
1. Lower Price Tag
It shouldn’t come as much of a surprise that the primary financial benefit of buying used process equipment is its much lower price tag. Depending on the type of equipment you need, buying used instead of new could save you hundreds or even thousands of dollars on your purchase.
If you’re operating with slim profit margins, those savings can make all the difference for your company — especially since used industrial equipment can operate just as effectively as a new machine. Though you should be understandably wary of prices that seem too good to be true, initial savings are always worth looking into.
2. Flexible Logistics
Used equipment purchases also tend to have more flexible logistics. When buying new, you’re typically limited to one or two options in getting the equipment to your facility — and these delivery methods can prove rather pricy. Sellers of used equipment, on the other hand, tend to provide more options. They know that cost is a concern, and as a result, are willing to work with you to find a cost-effective solution — whether that by being land, air, or sea.
3. Lease Financing
Though purchasing used equipment can be a great option for some, the associated expenses may still be a bit out of reach of certain individuals. Fortunately, lease financing is often available for used industrial equipment, and at lower prices than if you were to lease new equipment.
Opting for an equipment lease helps protect a facility’s working capital and credit line, while adjustable payment options ensure that you’ll be able to manage your lease in a way that fits your company’s financial situation. This low-cost solution even allows self-employed individuals to gain access to industrial equipment that would otherwise be far too expensive to acquire.
As this list reveals, opting for used industrial equipment can help you save money in more ways than one. As you continue to provide proper care and maintenance for your equipment, you can keep it operational for many years to come, while still enjoying the same quality performance you’d receive from new machinery! By saving money on these important purchases, you’ll be able to make key investments in other areas to better grow your business.