Whenever manufacturers decide on building something new, they look at two things, either buy brand new equipment or buy used factory equip to start their business. While buying new might seem to be the most prudent decision, it is not always the case. Sometimes the time factor involved in buying brand new is just too long for feasibility. Sometimes or even most of the time, it is more practical to purchase used or second-hand equipment. Below are some of the reason why this decision is an advantageous one.
Lower Purchase Cost
New equipment is significantly priced higher than its used counterpart. The savings that you will get from buying second hand is so significant that it can affect the whole project for the better in actuality. There are a lot of reputable dealers that sell used equipment, especially in construction. By utilizing these dealers you can be sure that the quality of the equipment will not be compromised.
You can find second-hand equipment dealers all over with just a click away. Start your search locally in your area first, for example, search second hand equipment australia first and then narrow down your search per region or city until you narrow it down within about 50 miles on your location to ensure that you can take the shortest time to go look at the equipment yourself.
Avoid The Initial Depreciation
Much like buying a used vehicle, if you buy used equipment you avoid the brunt of the depreciation process. This allows you to save a huge chunk of your capital just by buying used. By buying a piece of used equipment you avoid being hit by the depreciation value of the said machinery.
Still Fully Featured
Because technology does not move very fast in this industry, you can be sure that the equipment you are buying will still have the relevant technology and could even be on par with the newer ones. You can still easily find the features that you need on newer models but at a fraction of the cost. Even if you compare the newer and older model, you will find that they actually might have the same features.
Availability On Demand
Buying used also ensures that the machinery that you need is already on hand and in stock. You no longer have to place an order and wait for completion because the machinery is already there. This saves you time and money on a logistics standpoint and ensures savings on the overall project. Used equipment is sure to be on stock and on the dealer’s site available right away.
Lower Insurance Costs
Yet another advantage to be had in buying used is that of lowered insurance costs in similar but newer equipment. This happens as insurance companies’ base their premiums on the equipment replacement cost, no on how much you would be able to sell it for after some time. The overall cost of coverage is less expensive since the replacement cost would also be lower than that of a brand new one, resulting in even more savings.