At times may come when you need to purchase industrial equipment for your business or replace worn out parts. Here, you will have two options which are to either buy new or already used parts or equipment. Most people have the notion that new equipment will be better and more efficient. While this is true in some situations, it may not always be the best option for your case. You may want to first consider the following benefits that come with buying pre-owned industrial parts.
Pre-Owned Industrial Parts are Cheaper
A major benefit that you will get from buying a pre-owned industrial part instead of a new one is a lower purchase price. This price difference is very significant and go up to even 70 percent. Aside from the quality of the equipment, the variation in the price will depend on its condition. This however does not mean that you have to look for the much won out parts for you to enjoy a lower price. Used equipment’s in themselves are already depreciated which already guarantees a reduction in purchase cost as compared to a new part. You can therefore look for slightly used pre-owned industrial parts that provide a balance between good performance and affordability.
Faster Acquisition Time
Worn out machine arts awaiting replacement can lead to the halting of operations which in turn stands in the way of your business. Hence, you need to procure these replacements parts as quickly as possible. Every moment of waiting for parts delayed projects and can cost you money. The process of acquiring new parts is more likely to take longer when you are buying new parts. For one, the part dealer company may not have the part on hand meaning that you would need to wait for them to restock. This may take even longer if the manufacturers do not have already made parts and you have to wait for them to manufacture. Other issues such as staffing and shipping on the manufacturer’s end may also lead to delays.
On the other hand, pre-owned industrial parts are usually readily available. All you will need to do is get the part from the previous owner or dealer. Even if you have to wait for it to be shipped to you, you may only need to wait for a few weeks as opposed to new parts which can take even months.
A Good Resale Value
Just like any other equipment, industrial parts tend to depreciate with use. Hence, the resale value after a while of using it will be lower compared to the amount you may have paid for it. This is more so a possibility when you purchase new parts. This is due to the fact that depreciation is maximum during the first 12 months after the first sale of the item. This can go all the way to 40 percent. However, after the first year, the price starts to stabilize. This means that the value of the part will remain relatively the same for the coming few years. Therefore, as long as you maintain it well, you can get to resell it at a price close to that which you had purchased it for.