The Pros and Cons of Buying New vs Used Equipment

The Pros and Cons of Buying New vs Used Equipment

To address the equipment needs of our clients in a wide range of industries that include construction, transportation, restaurants, and medical equipment suppliers, Universal Finance offers financing that keeps businesses on track to meet deadlines and avoid interruptions in the projects they are working on. Our creative financing programs and customizable payment plans provide borrowers with the funds they need to purchase equipment and obtain working capital.

When a customer comes to us to obtain financing, one question that often comes up is whether it is better to buy equipment that is new or used. Because every customer’s needs are unique, there is no right answer, but there are some general guidelines in most industries when it comes to buying equipment. Making the choice between new or used depends on the unique position of the business and what the short and long-term equipment inventory needs are.

One of the biggest pros of buying used equipment is the lower upfront cost. It’s usually the main reason a business chooses used. However, other pros include retention of value and lower insurance costs. One of the cons of buying used equipment could be the fact that the equipment might be in bad condition and will require ongoing maintenance. We always encourage our customers to really try out and inspect the equipment before buying so they don’t encounter this problem down the road.

Similarly, there are also upsides and downsides when it comes to buying new equipment. Among the pros of buying new include trouble-free operation, a warranty, up-to-date technology, and tax advantages. These advantages come with a big price tag, though, which is the biggest con for buying new equipment. Newer equipment also has a rapid depreciation of value compared to used equipment.

The bottom line is – there are many factors to consider when deciding whether to purchase new or used equipment. Each purchasing route has pros and cons, and these factors can be applied to the construction industry as well as the other industries that Universal Finance serves. The team at Universal Finance will work directly with you to provide the guidance you need to choose the right equipment for your business and to secure the financing you need to acquire it.

Click here to learn more about equipment financing or call us at 781-219-0511 to speak with a representative today!

Redesigned Website Launch


Universal Finance Corp. is pleased to announce the launch of its completely redesigned website, Universal Finance redesigned its website to reflect the latest trends in internet technology and to provide visitors with an easier way to learn about our financial services, improve the site’s aesthetics, add new resources, and increase the ease with which customers can communicate with us.

The website redesign also reflects important changes that Universal Finance has recently implemented to expand our financial services to a wide range of industries. Universal Finance established itself as a premier lender to the construction industry in the early 1980’s and, over the last four decades, the company has expanded its reach to serve customers in many other industries including transportation, restaurants, and medical equipment suppliers. We provide borrowers with the financing they need to secure jobs, purchase equipment, and obtain working capital.



The vertical scroll down layout on the home page is designed to promote visual clarity and provide an action-oriented interface. An “above the fold” design was used which keeps the most important pieces of content positioned in the section of the screen that is seen without having to scroll downward.


The new site was designed to ensure that it looks great and functions properly on all devices, including laptops, tablets, and cell phones. The new design features streamlined menus, clear navigation, and a responsive layout for all electronic platforms.


The site’s content has been restructured to better highlight the financial services and consulting that Universal Finance offers across many industries. In addition to providing information about financing options for the construction industry, the website now reflects the financial services we offer to medical suppliers, transportation companies, restaurants, and franchises – just to name a few.

Why a Working Capital Loan?

As a business owner, you may be in a position where some capital would help keep your business moving and Universal Finance offers many solutions. One of our most popular solutions is to obtain a working capital loan by simply utilizing the equipment you already own. The size of the loan available to your business is calculated based on your assets – this includes the equipment you use every day. Our team will work closely with you to determine the value in your assets and together we’ll come up with a plan to turn them into capital.

A business’s operating liquidity determines its potential working capital loan. Fixed assets such as fully owned property, office space and equipment can be considered as a part of a company’s available capital. In some cases, if a company’s total assets are less than its current liabilities, the business has what is known as a working capital deficit or negative working capital. However, even if your business has a deficit, Universal Finance offers flexible financing options that may be available to you.

Leverage Your Company’s Working Capital to Drive Your Business Forward

For more than four decades, Universal Finance has helped clients obtain working capital loans in a wide range of industries that include construction, transportation, restaurants, and medical equipment suppliers. Unlike a traditional lender, we look beyond how our clients “look on paper”. When we receive a working capital loan application, we work to develop a complete understanding about who the customer is and what they have to offer, oftentimes regardless of their credit score.

Whether you need capital for materials or to help with your ongoing expenses, our team can work with you to establish financing that will turn your assets into cash. By leveraging the equipment that you own, a working capital loan can be done fast and give you the funding you need now.

Click here to learn more about our working capital loans or call us at 781-219-0511 to speak with a representative today!