Quality lab equipment is almost always expensive, but if we are discussing the latest commercial or research-grade tech, those machines are going to be super expensive. The manufacturers and sellers are well aware of that, which is why they usually have some sort of a leasing system or monthly instalment system in place to make expensive lab tech more feasible options for even smaller labs.
However, buying and leasing are two different concepts with their own pros and cons. There is scope for both options to be useful while procuring lab equipment, so the answer varies based on which machine or supply it is exactly. To keep the post brief and the answers concise, we will go through a short list of pros and cons of all the available options.
Buying New Laboratory Equipment
If the lab can afford to buy brand new equipment without suffering a huge financial setback, then there are multiple advantages to doing so.
- It will come with a full OEM warranty;
- Technical support will be better, as the manufacturer’s own trained staff will be handling complaints, issues and general queries;
- Spare parts will be easier to find;
- The latest products provide access to the latest applicable technology, which in turn, allows for better results in the lab.
- Brand new, first-hand lab equipment is very expensive, even if the price is divided into a payment plan;
- Technology always gets replaced sooner or later, therefore it is a possibility that by the time a lab manages to pay it all back, they may already be in need of newer, better machines.
Leasing New Lab Equipment
Leasing is the best option for labs, especially when the equipment in question is expensive, or if we are discussing bulk orders. To better understand the advantages, take a look at this lab safety equipment leasing program from Excedr. They even provide repair and maintenance coverage to ensure labs do not have to suspend their operations for too long, if ever. When leasing essential lab safety equipment such as biosafety cabinets and fume hoods, it might be possible for laboratories to receive full/partial tax exemptions on those expenses too.
Buying Used Lab Equipment
Buying used lab equipment essentially has just one benefit, which would be the fact that it is the cheapest option. Other than that, it’s difficult to rank it above leasing or buying new equipment in any other way since:
- Old lab gear is either already outdated or it is going to be outdated very soon;
- Finding new parts for older models is often a hassle, as manufacturers stop supporting them after a few years;
- The warranty provided, if any at all, will come from the dealer/seller and naturally, they cannot possibly handle technical problems as well as trained OEM experts;
- Outdated tech usually delivers outdated results;
- Used safety equipment for labs should not even be considered as an option.
Leasing lab equipment in general will always have a major advantage that makes it a better option than buying upfront, even when cost is not an issue. New tech replaces old tech almost every year, and after a few updates, the older technology becomes way too outdated to be used with any degree of competitive efficiency. Leasing always comes with the option for labs to upgrade their gear when needed and switch over to a new leasing program seamlessly.