To lease or buy – when to consider purchasing, leasing or refurbishing metal equipment

By Anna Lockhart.  

Investing in your own metal and roll forming equipment can be a big step for many metal professionals. The experts from MetalForming share their insights for when it’s best to lease, purchase new or purchase refurbished machinery based on your business status.   

In a recent episode of the MetalCast podcast, host Heidi J. Ellsworth sat down with Ken McLauchlan and Stephen Gosk of MetalForming to discuss the best practices for leasing and purchasing roll forming equipment. The two guests share their advice on how to make a choice between the two options based on your business needs and when to consider purchasing refurbished equipment rather than brand new. 

As the market continues to grow and the demand for metal increases, metal professionals are starting to feel the heat from the recent rise and must decide if purchasing metal forming equipment outright or leasing the machinery is the best choice for their business. For some, buying a used machine may be a more economical option.  

On purchasing used equipment and what to look for, Ken shared, “A lot of the question comes down to the year of the machine and where the machine is from...There are times when parts become obsolete and you can't get them anymore, so it's always important if you're looking at used to understand the risk you're taking.” He continued, “So, I would say if you're looking at a used machine, reach out to the manufacturer of the machine, see what's there. There's a lot of companies that five or ten years ago that were here in the boom before 2020 that aren't here anymore, so you want to make sure that that's available to you at the very least.” 

At MetalForming, Ken and Stephen have placed an emphasis on customer needs and meeting them where they’re at in their business growth and journey. For their customers looking to invest in refurbished machinery, they want to be the best partner they can be to help get those machines in working order so customers can rely on them and the investment they placed in the machine. Stephen shared, “I think it's important for us to understand exactly what they're trying to do with the machine itself. For us here, we see the refurbishment used market as a pillar for the future, so we're going to continue to put emphasis and focus on that aspect.” 

Read the transcription or Listen to the podcast to find out whether leasing or purchasing equipment is right for your business!