4 Benefits in Purchasing Used Industrial Equipment

Quality industrial equipment is an indicative in determining the quality of your product. Whether you’re looking to replenish old-school equipment or you’re starting up a business on your own – knowing where to find the latest in high-quality industrial equipment can set you apart from competitors within the industry. Luckily you don’t have to buy brand new.

 In fact, opting to purchase used industrial equipment offers multiple benefits, whether you’re replacing old equipment or beginning your own manufacturing enterprise.

Today we’ll discuss a few of the benefits associated with buying previously used equipment:

Benefit #1: Buying Used Equipment Means Purchasing at a Lower Price

Though there are a few exceptions to this rule, generally speaking opting to purchase used equipment is more inexpensive than buying the same equipment brand new. The price difference between purchasing new equipment versus used can range anywhere from 30-70% - though this reduction in price is attributed to the overall condition and quality of the equipment, the reduced cost can still be the difference of hundreds to thousands of dollars in your pocket.

Benefit #2: Avoid Depreciation of Value

Unlike property – industrial equipment depreciates in value the second they come into your possession – often as much as 20-40% within the first year of possession. Opting to purchase used industrial equipment would mean avoiding this initial depreciation entirely. However, once used equipment have depreciated in value – it can still hold its lower value if it is taken care of and in good working condition so that if you are looking to sell, you may actually be able to get close to what you had initially paid.

Prospective buyers of used equipment also have the benefit of more flexibility. If you’re working on short-term contracts that necessitate the utility of specified machinery equipment, you can purchase used and re-sell once you’ve completed your contract with minimal depreciation.

 

Benefit #3: Decrease in Lead Times

Purchasing directly from the equipment dealer or direct from the manufacturer usually entails long or unpredictable lead times which are largely the result of the dealer or manufacturer not having required materials or delays in shipping.

 

Benefit #4: Larger Range in Choice

The global stock of used equipment is huge – making it a buyer’s market. A buyer’s market in used industrial equipment ultimately means you have more choice when it comes to determining what brand or model of equipment you’re looking for within your price range.

 

In sum opting for used industrial equipment offers many benefits over purchasing equipment brand-new. Luckily, Infinity Asset Solutions streamlines this process for you. If you’re looking for used equipment – consider attending a local equipment auction. These auctions are typically under-attended, most likely boosting the likelihood that you’ll be able to walk away with a great deal on used equipment. If you’re interested in learning more about some of the auctions we host check out our upcoming auctions page here.