Choosing Between New or Used Injection Molding Equipment
For manufacturing companies that want to keep up with the latest technology but don’t have the financial capacity to invest, purchasing a used equipment is the practical way to keep up with the industry trends.
Deciding on New vs. Used Equipment
Investing in injection molding equipment is a different decision for every business. Purchasing new equipment is not always the best choice, especially when there are used machines that can be great options too. But, how can business owners know which one to get? When is it better to invest in new, leading edge equipment and when is it better to save investment money and opt for used refurbished equipment?
Choosing between a brand new and used equipment depends on several factors. Since both has its own edge over the other, one must weigh their business needs, budget, and future manufacturing requirements.
To learn more, here are the key takeaways from the infographic below from Premiere Plastics which presents to us the pros and cons of each option, and different tips in buying a new and used injection molding equipment.
- Determine immediate and anticipated near-future needs of the business.
Evaluate whether the business only need a temporary boost to its production or it needs to augment its capacity in the long run.
- Research the equipment well.
Know the operating cost, production capacities throughputs, and expected a usable lifespan of both options.
- Know the advantage and disadvantage of both options.
Compare the function, price, efficiency, and risks of new vs used to ensure that older technology can support intended purposes and will not cost more to operate.
- Check safety considerations.
The best way to ensure that the equipment -regardless of whether it’s brand new or used – is to have it checked by a qualified technician. Check out the infographic below to learn more about this topic.