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13 Jul 2017
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Save Money by Purchasing Refurbished Equipment

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Posted By Ronda B.

Most equipment will decrease in value over time. Many businesses and individuals are now looking for ways to save money when they buy equipment. The best way to save money is to buy refurbished items.

Used equipment is often serviced and then sold as a refurbished item. A company will retest the product, repair any damage or defect, have it inspected, and then repack it in new packaging. Once the original factory seal is broken, a manufacturer is mandated by law to sell the product as a refurbished item. Equipment is also refurbished when a customer returns an item to a store. There are a number of reasons why customers will return a product. They ordered the product and the wrong product may have been delivered. They may have taken the product home and then decided they did not want it. If they ordered a product online that was to be shipped, they may have went to a store and bought the same product before it arrived. They may not like the item. They also may have difficulty operating the product. No matter what the reason, all returned products are inspected, and if damaged or contain defects, are then repaired. The items are resold as a refurbished product.

The benefits of purchasing refurbished equipment include:

1. Refurbished equipment is sold at a much lower price. Customers can find themselves saving an average of 25 percent to 50 percent of the retail price for the same equipment that is new.

2. Buying refurbished equipment will help protect and conserve the environment. When you buy refurbished items, less waste is going into landfills. This means less land will be cleared for new landfills.

3. Refurbished products may come with a return policy or warranty. It is usually for a shorter period. You have to check with the business because not all manufacturers offer warranties. Warranties should last at least one year, although 90 days is often suitable for equipment without many moving parts.

4. If a business needs to implement cost saving programs because profits have decreased, buying refurbished equipment will provide the much needed savings. . If a company has a specific equipment model that is no longer being sold, buying refurbished equipment and parts is a great way to continue to use their current model without having to go out and buy brand new equipment

5. Because of new and innovative technology, items such as computers are constantly evolving. Purchasing refurbished computers that have been upgraded for current software and hardware is a great way to save money.

6. The refurbished industry is predominantly involved in telecommunication, office, and industry equipment. This is because the equipment tends to be quite expensive. Businesses can get great deals on refurbished equipment from these particular areas.

7. Locations where equipment receives a lot of damage such as scratches and dents are good candidates for refurbishment equipment. For instance, office furniture, storage equipment such as shelves and cabinets for garages and work rooms, are suitable for refurbished items.

8. Buying refurbished equipment for parts can decrease the costs of parts for existing equipment. This is a popular choice for garage mechanics.

If you are thinking about purchasing refurbished equipment, ask the business how they define the word "refurbished." Also ask if the equipment has been taken apart and had any parts replaced due to damage. Make sure the equipment has been tested and ask about what technical support is available to you from the manufacturer and from the dealer.

Not only does refurbished equipment save money, it is also a cost efficient way of managing a business.

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