Repair that old machine or replace it with a new one? What Should You Do? We're going to help you break it down.
Reasons you might not be ready to replace:
1. Budget
2. New tech?
3. Change- Operators are used to this one.
Options as alternatives to buying new equipment:
1. Lease
2. Rent
3. Buy Used.
So, what about a rebuild?? Let’s analyze the data.
What is the cost of a new purchase, service life, operating costs, salvage value etc.
VS.
What is the cost of the old piece, service life, salvage value, operating costs etc.
Determine an annual average to compare.
Depending on the age of the machine, it may be more costly to continue to repair while a new purchase may offer better efficiency and tech. You’ll need to consider the overall costs for repairs to the older machine. Do you anticipate it will need continued repairs? Will the downtime effect your operations negatively (costing more money)?
What about safety? Does the aging machine pose any risk of injury to workers? If your equipment is safe and inspected and maintained regularly you may be able to continue with it in your fleet, but if it’s not meeting safety standards the costs can pile up.
When you take the latest tech and changes in design into account, what would improved efficiency and less breakdowns do for your bottom line? Newer features and better fuel economy are a definite consideration when making the decision to repair or replace your equipment.
