When you are looking to purchase a fabrication machine for your shop, several considerations come into play. From the type of machine that will fit your needs to the brand and model, there are plenty of choices to make. Additionally, you can choose whether you should buy a new or used machine. Part of this decision may come down to availability, but when both are options, this is a whole new consideration to weigh.
In a previous blog, we discussed the advantages of investing in used industrial machinery, but today, we’ll provide a more comprehensive overview of the pros and cons of buying new vs used fabrication machines.
New Machinery
Purchasing new machines can feel like a good investment, but sometimes, disadvantages such as cost or servicing outweigh the advantages. Let’s break it down so you can make the best decision for your situation!
Pros:
- Uses the newest technology
- Longer lifespan and warranties
- Should require less maintenance and servicing
- Improved efficiency and safety
- Higher resale value
Cons:
- Possible wait time for delivery/installation
- May require training if workers have never used the technology
- Higher costs and depreciation
- Fewer reviews/experiences to base purchase on
- May be challenging to find parts or servicing
Used Machinery
Used machinery isn’t always up to your company’s standards, but other times, it can provide cost savings and the required production quality. Let’s get into the pros and cons so you know what to look out for!
Pros:
- Cost savings and avoiding depreciation
- Performance reliability based on experiences and reviews
- Availability of machinery and parts without wait times
- Technicians have more experience servicing them
- Less training required
Cons:
- Low resale value
- May need maintenance
- May not last as long as a new machine
- Doesn’t use the newest technology
- May be challenging to find parts for older machines
Ferric Machinery has a wide range of options for purchasing new and used machinery and stock, as well as knowledgeable technicians who can help you make the right decision and get the service you need. Contact us today to get started!