What Factors Should You Consider While Buying Used and Unused Equipment
Buying equipment for your industry can be quite a task. A lot of questions can come to your mind, such as is buying new equipment better or if you should buy a used equipment. There are benefits to both. Let us learn more about it.
One massive advantage of buying new equipment is that you would be keeping up with the current technology and it will give you a competitive edge. It enables you to be more productive and you can enjoy better warranty and customer-service plans. However, this is an expensive option. You can opt for an economical choice, which is buying used machine online. You have to be extremely careful while inspecting the used equipment to check for any shortcomings. You can hire a technician to help you assess the viability of used equipment for your business.
Factors to Consider Before Buying any Equipment
Ensure that you buy used industrial equipment from a reputed supplier and that you can trace the equipment’s source. If you purchase equipment from a trusted source, you can be assured of the working condition and confirm important details like warranty and services offered.
- Safety considerations
You cannot put a price on safety, which is exactly why you need to ensure that all the industry safety requirements are met by the equipment being purchased. Get the equipment such as power and machine tools checked by a qualified technician and conduct due diligence regarding the safety aspect. Ensure that the computer and other office equipment is designed ergonomically to prevent personal injury to those using it.
Always ensure that the used equipment you are buying has a warranty as most manufacturers do not offer a transferable warranty. If that is the case, you will have to pay from your own pocket if any repair work crops up.
Inspect the condition of the product before you make the purchase. Don’t just look at a picture of it and conclude that it would work satisfactorily. Check the external, as well as, the internal condition of the equipment as the inside of the component is a better indicator of how the unit has been cared for as compared to the external appearance.
- Financial risk
The financial transaction is a crucial factor when you buy a used equipment. Online payments are secure to quite an extent as they are transparent and traceable. Credit card purchases are also safe, however, steer clear of the C.O.D process as it is easier for people to con you. Numerous carriers no longer accept cash and absolve themselves of any liability when collecting C.O.D. payments due to the risks involved. Lower your financial risk by opting for safe transactions.
Unfortunately, misinformation, misrepresentation and miscommunication is quite common when you purchase an equipment. Make sure you cross-check every information you have been given about the equipment and ensure it can be upgraded in the future. Look for the serial number of the unit and call the manufacturer to verify the information you’ve been given by the seller.
Ask for a demo of the purchased equipment in your office setting. This trial will allow you to understand the equipment better and you can clarify queries during the trial. The only way to know if a certain equipment is a good fit for your business is by checking it in your set-up. Before you commit to purchase a used equipment, it would be best for you set your expectations precisely and know exactly what you want.
- Hidden costs
You would be better off buying new equipment in certain cases instead of opting for used equipment due to the hidden costs that come with the latter. Take a tubed gear as an example. If the used tubes are overused or worn, they wouldn’t last long. You might even shell out more money to repair it. Instead, spending a little more and investing in a new equipment would be a better idea.
Check how much the equipment is worn before going ahead with the purchase. Normal wear and tear can be expected but you need to look out for signs of abuse. You need to carefully inspect each piece of the equipment as some hints of abuse might be visible — such as output tubes being pushed beyond their limit, overstressed cables or incorrectly performed repairs.
- Modifications made
If the component you are purchasing has been modified, you have to make sure that those modifications did not compromise the equipment’s reliability and your ability to service it in the future. Modifications of any kind can be repaired in the future but it may come at a cost.
Understanding your needs precisely will allow you to determine whether buying a new equipment would be a better idea or used equipment is the way to go.
Author Bio: Avi Patel is an engineer by heart and a digital marketer by trade. He works for EzyTrader and creates content on topics related to engineering, technology, marketing and trading. He has a passion for innovation and loves to share what he learns with his readers. When he’s not working or writing, he can be found binge watching comedy shows.