Are you looking for a cheaper way to acquire lab equipment? Instead of buying used, consider refurbished lab equipment as an option for your laboratory instead. Leasing refurbished is an excellent option for laboratories working on a budget and in need of a cost-effective instrument acquisition solution.
Refurbished Equipment Definition
A refurbished piece of equipment is any type of used lab instrument or system that has been reconditioned to meet a manufacturer’s specifications.
Refurbished options include a wide array of specialized research equipment, from centrifuges, HPLC systems, and CO2 incubators to mass spectrometers, microscopes, chromatography systems, and more.
Who Refurbishes Equipment & What Makes It Different Than Used Equipment?
Used laboratory equipment can be refurbished either by a third party (i.e., distributor, seller, or dealer) or by the manufacturer themselves.
Third-party vendors typically sell both used and refurbished lab equipment, terms that you might see used interchangeably. However, they have slightly different meanings.
Used, or pre-owned, simply means that someone else owned the equipment before you. It doesn’t specify whether or not the equipment is in good condition.
On the other hand, refurbished, or reconditioned, refers to used lab equipment that has been serviced and tested to meet the seller’s or manufacturer’s standards. There may also be a warranty or service contract included with the equipment.
Now, this doesn’t mean that refurbished is good and used is bad. It simply means that understanding these differences will help you discern between what’s been refurbished and what hasn’t, maximizing the chances you’ll end up with a piece of equipment in good condition.
Buying vs. Leasing Refurbished Equipment
When considering how to acquire refurbished scientific instrumentation, be sure to assess all of your options, including leasing.
If you’re limited on cash, leasing a refurbished instrument from the manufacturer through Excedr is a great way to save money and preserve your operating budget in the long term. Compared to purchasing a refurbished instrument, you’ll save a lot of money up front.
Plus, spreading your payments out over time gives you considerable cash flow for ongoing operational needs like staffing, consumables, and other business expenses. Furthermore, Excedr’s leases cover repairs and maintenance, so you don’t have to worry about dealing with annual service contracts.
Third-Party Vendors vs. Manufactures vs. Excedr
Although we believe leasing your refurbished equipment is the best route to take, let’s review buying used or refurbished equipment from a third-party vendor or manufacturer.
Buying from a Third-Party Vendor
Whether you’re interested in biotech and medical equipment like microplate readers, analyzers, PCR systems, and spectrophotometers, or are in need of general used laboratory equipment, like freezers, chillers, and hoods, going with a third-party vendor can be an excellent option.
That’s because buying refurbished scientific instruments from a third party can sometimes be cheaper than buying from a manufacturer, due their service standards often not being as high.
However, when buying equipment from a third party, it’s important to conduct due diligence on the seller. Not all third-party sellers are qualified to refurbish sophisticated laboratory equipment back to OEM specifications.
For example, you’ll want to gauge their legitimacy by finding out how long they’ve been in business and whether or not they specialize in the type of equipment you’re purchasing. You will want to understand what range of services they offer, as well as the equipment may be more reliable if the company offers services like testing, reconditioning, and application development.
You will also want to familiarize yourself with the company’s warranty, service, and return policies in case anything goes awry with your product after purchasing.
That said, it may be more difficult to find long-term financing for a purchase from a third-party vendor, since there is a greater risk associated with this form of used equipment. This is an important distinction to make, as leasing eliminates this issue entirely, through the use of warranties, repair services, and more.
Buying from the Manufacturer
Procuring instrumentation directly from the manufacturer can often be the ideal route to take, because not as many third-party vendors invest in testing, diagnosing, and repairing sophisticated scientific instrumentation.
Check whether or not the manufacturer you’re interested in sells refurbished. If they do, weigh your options. Chances are you’ll save some money and receive an instrument that’s in better condition than simply buying used. This is beacuse, when you purchase a scientific instrument that has been refurbished by the manufacturer and their technicians, you can be sure that the equipment will be up to par with a new product from the same manufacturer.
The refurbished unit will usually come with six months to a year of manufacturer-issued warranty as well, which will lower the risk that you would otherwise take on when buying from a third party.
However, because the manufacturer services the equipment to the highest standard, their pricing will reflect this and may be higher than that of the third-party vendor.
Fortunately, Excedr’s lease program offers financing for equipment refurbished by the manufacturer, so you can acquire used instrumentation at the lowest risk while saving yourself even more money!
Leasing Refurbished Laboratory Instruments Through Excedr
New lab equipment is always going to be more expensive than a refurbished model. It is in the best possible condition, and includes the latest features. However, the usefulness of the newest device might not always be much higher than its refurbished sibling.
Despite features typically being outdated compared to a newer model, some equipment has a long and useful life even after being used for several years, as long as they are properly maintained and refurbished. Leasing a refurbished model can often be a great way to get essential equipment for your lab while providing a cost-saving option that helps you conserve working capital and extend your cash runway.
By opting for something that has been refurbished, you may pay a little more than you would when buying a used instrument, but you’ll lower your risk of getting a faulty product and save money.
Interested in leasing refurbished equipment, rather than buying? Excedr leases a wide variety of analytical instruments and systems, including LC/MS or GC/MS systems, and spectroscopy equipment from numerous manufacturers, including Shimadzu, Thermo Fisher Scientific, Agilent, Tecan, Bio-Rad Laboratories, and many more.
If you have an instrument quote, simply request a lease estimate. We can go over the leasing process in detail and begin drafting a lease estimate for you, which will show the estimated breakdown of leasing costs.