5 Ways You Save with Buying Used and Refurbished Machinery
With plenty of facilities needing machinery to handle daily workloads, the temptation to invest in brand new machinery that will work seamlessly can be high. Who doesn’t love the look, feel and functionality of something new? There are, however, plenty of reasons purchasing and maintaining used or refurbished machinery is cost effective in more ways than just saving money on the initial purchase.
- Availability – The used machinery market is quite vast, with plenty of options at your disposal no matter the industry. Many resellers are spread out across the country, making buying regionally even easier to fill your facility needs quickly.
- Short-term needs – What if you just need a piece of machinery for a 3-month job? A refurbished piece of machinery can be purchased for the project and then immediately sold with limited depreciation.
- Limited depreciation – Any new piece of machinery immediately depreciates the moment it is sold, sometimes by close to half of its purchase value. That translates into lost funds that could’ve been allocated to other machinery. Should your facility’s production needs change in the future, purchasing used equipment helps you avoid that initial sunk cost from depreciation.
- Tried and true maintenance – We’re in the repair business so we have a vested interest in companies investing in used refurbished machinery, but the fact of the matter is the longer a piece of machinery is available, the more technicians there will be trained to repair it and do so quickly, which limits downtime and lost revenues. Unless a new piece of machinery is based heavily on past designs and features, many of the repairs will require specialized technicians.
- Access to parts – Machinery that’s been on the market longer gives its manufacturer and third party companies more time to design the necessary parts for a repair. Whether it’s something designed specifically for the model of equipment you’re using or a universal part that applies to a range of machines, refurbished machinery is much more likely to have spare parts that can be used for repairs.
Saving money buying refurbished is nothing new, but looking at the benefits aside from the upfront purchase cost will help you streamline your budgets, reduce downtime, and maintain a good revenue stream. Share some instances where your refurbished machinery saved your company time and money by commenting below and be sure to visit gesrepair.com or call us at 1-877-249-1701 to learn more about our services. We’re proud to offer Complete Repair and Maintenance on all types of Industrial Electronics, Servo Motors, AC and DC Motors, Hydraulics and Pneumatics. We also sell surplus and refurbished equipment. Please subscribe to our YouTube page, Like Us on Facebook! Thank you!