The Case for Used Equipment in 2021

By | May 24, 2021

My previous post was about the Section 179 deadline, and how supply chain issues and delivery delays could derail some companies who wait too long to make their 2021 section 179 equipment purchases.  

bulldozer-financing

And almost right away, my brain kicked into “and getting used equipment instead alleviates that” (since Section 179 eligible equipment can be new or used.)

So let’s talk about used equipment a little, specifically the advantages of used equipment over new (note: this assumes used equipment in decent shape and still useful in a technological sense.)

Used Equipment Is Less Expensive – You will always save money with used equipment over new. And in many cases, the used equipment is still quite relevant when compared to new. Sure, a used computer with a CRT monitor can be borderline useless due to rapid technological advances, but a used dump truck or bulldozer can typically do the same job as a new one can.

You Can Take Delivery of Used Equipment Right Away – This is a big benefit, as exemplified by my last post. Used equipment is already assembled and complete, and more importantly, it’s simply “there”, meaning you can take immediate delivery of almost any used equipment purchase. Anecdotally, I know someone who must wait several months for a new piece of equipment that needs a delayed chipset. And I know someone else for whom we financed a used skid steer last Friday, and he’s undoubtedly using it as I type.

You Can Finance Used Equipment – We will happily provide used equipment financing for most business equipment. Even private party used equipment purchases can be financed, which can be a big help to a lot of small businesses (tooting our horn here, because not everyone offers this.)

Used equipment has always been popular with small and mid-sized companies. And in 2021, the “we can use it immediately” aspect is another clear checkmark in the “advantages” column, because, assuming the equipment itself is eligible, your Section 179 deduction is safe. 

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