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.
If the lab can afford to buy brand new equipment without suffering a huge financial setback, then there are multiple advantages to doing so.
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 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:
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 New tech replaces old tech almost every year, and after a few updates, the older technology becomes way too outdated to be used with any degree of competitive efficiency.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.
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