"Vending Machines For Sale Near Me" - Should I Buy New or Used?
Across America, the phrase "vending machines for sale near me" is searched for about 1,400 times per month. You're probably one of those searchers, and you're in good company.
That's because vending machines are a great way to make a few hundred dollars every month... or even turn it into a full-time job.
The problem for most people? Limited start-up cash. It's simply cheaper to buy used. Or is it?... (Hint: The answer is no.)
Buying New vs. Used
Let's take a side-by-side look at the pros & cons of buying a new vending machine vs. buying a used one...
|Initial Cash Outlay
|Zero when you finance it
|100% out of pocket up front
|Debit/Credit Card Reader
|Oftentimes no (miss out on 50% of sales)
|Cost to Initially Stock the Machine
|Can be financed and paid over time
|100% out of pocket up front
|Cost for Repairs
|Very low (if any)
|Lost Sales When Out of Order
|Low or zero
|Extended Protection Plan
|Available (and can also be financed)
Now let's take a closer look at some of the main reasons it simply makes more sense — in both the short term and in the long run — to buy a new vending machine.
When you buy a used vending machine, you'll have to pay everything up front. Sure, the price tag will be lower (as will the reliability and condition of the machine)... but you'll have to pay the entire purchase price out of pocket.
Conversely, when you buy a brand spankin' new vending machine from us, you can finance the entire purchase and pay for the machine over a 24- to 36-month period, with zero money down up front. You can pay for the machine out of your monthly profits.
But that's not the only difference between buying used and buying new. Let's explore a few of the other things you should consider...
Debit/Credit Card Reader
Many of the used vending machines you'll find on CraigsList, Facebook Marketplace and the like will NOT have a card reader. Do yourself a favor and don't buy them!
As explained in this article, vending machines that don't have a debit/credit card reader are literally excluding 50% of their potential customers who don't carry cash in their pocket.
In other words, your vending machine will generate HALF as much money as it otherwise would if it had a card reader... costing you A LOT of money in the long run.
Cost to Initially Stock Your Machine
Once you become the proud owner of a vending machine, keep in mind that you're going to have to immediately spend a few hundred more dollars to stock it.
For most people, this will limit how nice/new/big/fancy of a vending machine you can afford since you'll have to set aside several hundred dollars you could have spent on the machine.
Here again, we have a better solution. When you purchase a vending machine from us, you can add a pre-paid gift card to Costco, Sam's Club, Amazon Business or other popular suppliers and finance it along with your machine.
This allows you to keep your hard-earned cash in your pocket and pay for the inventory over time as it sells.
Repairs & Maintenance (and Lost Sales)
A couple other very real costs to consider are the cost of repairs & maintenance and the lost sales you'll have while your vending machine is out of commission. These costs are simply going to be higher with a used machine than with a new one.
All of our Seaga vending machines include a 1-year manufacturer's warranty and the peace of mind that comes with it. What's more, we offer 2-year and 4-year extended warranty plans to protect your vending machine even longer.
Just like with the cost of the machine itself (and the card reader and the pre-paid gift card), you can finance the extended coverage plan and pay for it over time out of your profits... keeping your cash in your pocket.
Final Comparison: New vs. Used
There are some things that generally make sense to buy used rather than new. Vending machines are NOT one of them.
The only "pro" for buying a used vending machine is the lower purchase price. However, you'll have to pay 100% of that cost up front. rather than being able to finance it and pay over a 24- or 36-month period (out of your vending machine's profits).
Beyond that, you'll pay more in the long run with a used machine due to:
- Missing out on 50% of sales if your used machine doesn't have a card reader
- Having to pay cash to initially stock your machine
- Higher repairs & maintenance costs
- Lost orders while your machine is out of order