Buying Used Lab Equipment vs. Leasing: Which Is Right for Your Lab?

Equipping your lab with the tools it needs can feel like a balancing act. On one hand, buying used lab equipment offers significant cost savings compared to purchasing new. On the other, leasing provides access to high-quality instruments without a hefty upfront investment. So, how do you decide which option is the best fit for your lab?

The choice between buying used and leasing comes down to your lab’s unique priorities—whether it’s minimizing costs, reducing risk, or staying flexible with ever-changing research needs. In this guide, we’ll compare the pros and cons of both approaches, looking at factors like cost, maintenance, flexibility, and reliability. By the end, you’ll have a clear framework for making the right decision for your lab’s budget and goals.

Buying Used Lab Equipment vs. Leasing: Key Differences

Key Differences at a Glance

• Cost: Buying used offers immediate savings, while leasing spreads payments over time and includes maintenance.
• Maintenance: Leased equipment often comes with full service coverage; used equipment may require out-of-pocket repairs.
• Flexibility: Leasing allows upgrades and returns, while buying locks you into ownership.
• Risk: Used equipment carries potential reliability issues; leasing minimizes risk with guaranteed functionality.

When it comes to outfitting your lab, both buying used lab equipment and leasing offer unique benefits. To decide which option is best for your lab, it helps to compare them across these key factors in more detail.

Cost

Buying used lab equipment is an upfront cost-saving solution. Items like centrifuges, incubators, or microscopes can be purchased at a fraction of the price of new equipment. However, there are potential hidden costs to consider, such as repairs or replacements if the equipment malfunctions. Leasing, on the other hand, spreads out costs over time, making it easier for labs with limited budgets to access high-quality equipment. Additionally, leasing agreements often bundle maintenance and repair coverage, reducing unexpected expenses. While leasing might cost more over time, the predictable payments can be a significant advantage.

Maintenance & Warranties

Used lab equipment may or may not come with a warranty, depending on whether it’s purchased as-is or refurbished by a reputable seller. Instruments lacking a service history or warranty can pose a risk, especially if they haven’t been well-maintained. Leasing eliminates this uncertainty, as most agreements include maintenance and repair coverage throughout the lease term. This ensures that even complex tools like chromatography systems or analytical instruments remain reliable without additional repair costs.

Flexibility & Upgrades

Buying used equipment provides full ownership, allowing labs to modify or adapt the tools as needed. However, this also means you’re locked into using that specific piece of equipment, which can be a challenge if your lab grows or your research needs change. Leasing offers greater flexibility. At the end of a lease term, you can upgrade to newer models, extend your lease, or purchase the equipment. This makes leasing an excellent option for labs that want to avoid obsolescence and stay current with the latest technology.

Risk & Reliability

The reliability of used lab equipment depends heavily on its condition and history. Instruments without detailed maintenance records or warranties may break down unexpectedly, leading to downtime and additional costs. By comparison, leasing provides peace of mind. Leased equipment is typically maintained by the leasing company and guaranteed to function properly. If a problem does occur, repairs or replacements are often included in the lease agreement, minimizing disruptions to your lab’s operations.

Which Option Is Right for Your Lab?

The choice between buying used lab equipment and leasing ultimately depends on your lab’s specific needs, budget, and long-term goals. Both options offer distinct advantages, and understanding your priorities will help you decide which route to take.

When Buying Used Is the Better Choice

Buying used is ideal when:

• Your lab needs to maximize cost savings upfront.
• You’re purchasing basic or easily serviceable equipment like water baths, microscopes, or centrifuges.
• You have in-house expertise to handle maintenance and repairs.
• The equipment is for a specific project or application where ownership is more practical.

For example, if you need a reliable but budget-friendly incubator for a smaller-scale study, purchasing used equipment from a reputable reseller can be a smart investment.

When Leasing New or Refurbished Is Smarter

Leasing works best when:

• You want to avoid the large upfront costs of purchasing equipment.
• Your lab requires advanced instruments like HPLC systems or chromatography tools that benefit from included service contracts.
• Flexibility is key, especially for labs that need to upgrade or scale operations quickly.
• You’re concerned about obsolescence and want to stay current with the latest technology.

For instance, if your lab needs a high-quality mass spectrometer but can’t afford the price tag of a new unit, leasing allows you to access the equipment you need without tying up capital.

How Labs Approach Procurement: Real-World Examples

Deciding whether to buy used lab equipment or lease often depends on the specific needs of the lab. Here are two examples that illustrate how different scenarios can influence this decision:

• Example 1 - A biotech startup: A startup launching its first research project needs access to high-quality equipment like centrifuges and HPLC systems but has a limited budget. Leasing allows them to avoid the upfront costs of buying new or used equipment. With service contracts included, the team can focus on research without worrying about maintenance or repairs.
• Example 2- A university lab: A university research team working on a short-term study needs basic tools like microscopes and incubators. Purchasing used lab equipment from a trusted reseller offers an affordable and quick solution. While they take on the responsibility for upkeep, the lower price tag fits perfectly into their one-year grant budget.

These examples highlight how different labs prioritize budget, flexibility, and project timelines when deciding whether to buy used or lease.

A Simple Framework for Deciding

Choosing between buying used lab equipment and leasing can feel overwhelming, but breaking it down into key questions can make the process easier. Use this quick framework to decide which option fits your lab’s needs:

1. How long will I need this equipment? If your project is short-term (under a year), buying used might make sense. For ongoing or multi-year needs, leasing offers better cost management.
2. Do I need flexibility? Leasing allows upgrades, returns, or extending agreements as your lab grows. Buying used locks you into ownership but can be practical for static needs.
3. What’s my budget? If upfront costs are a concern, leasing spreads payments over time. Buying used requires an upfront investment but offers immediate ownership.
4. Can I manage maintenance? Leasing often includes service contracts, saving you from repair headaches. Buying used means taking on maintenance costs unless covered by a warranty.

What it boils down to is this: short-term needs and tight budgets might favor used equipment, but leasing gives you the flexibility to adapt and stay competitive over time.

Debunking Myths About Leasing

Leasing lab equipment is often misunderstood, leading some labs to overlook its benefits. Let’s clear up a few common myths:

• Leasing is only for large labs: Leasing is scalable and works for labs of all sizes, from small startups to established institutions. Even labs with limited budgets can benefit from the predictable payments and flexibility leasing offers.
• Leasing always costs more than buying: While leasing spreads payments over time, it often includes maintenance, repairs, and upgrades, reducing long-term costs. For equipment prone to obsolescence, like chromatography systems or mass spectrometers, leasing can be more cost-effective than buying and managing outdated tools.
• Leased equipment is lower quality: Leased equipment is typically high-quality and often refurbished or new. Leasing companies like Excedr ensure the instruments meet industry standards and provide service contracts to keep them in top condition.

While it might be hard to trust us as a reliable source because of our obvious bias towards leasing (we think it's an excellent option, and that it gets a bad wrap), consider these points, and do some research on your own! Taking the time to revisit opinions on leasing can help you in making the best decisions for your lab.

Making the Right Choice for Your Lab

When it comes to equipping your lab, both buying used lab equipment and leasing offer unique advantages. Buying used is a cost-effective solution for labs looking to save on upfront costs, especially when purchasing basic or easily maintainable tools. However, the risks associated with maintenance and reliability mean that careful vetting is essential.

Leasing, on the other hand, provides financial flexibility, access to advanced technology, and peace of mind with included maintenance and repair coverage. For labs aiming to scale operations, avoid obsolescence, or manage tight budgets, leasing can be a game-changer.

The choice ultimately depends on your lab’s priorities: Are you looking for immediate cost savings, or do you value long-term flexibility and reliability? By weighing these factors, you can determine the best approach to meet your lab’s needs while staying within budget.

Choosing the Best Path for Your Lab

Equipping your lab doesn’t have to be a one-size-fits-all decision. Buying used lab equipment offers cost savings and immediate ownership, making it a practical choice for short-term projects or labs with the resources to manage maintenance. Leasing, on the other hand, provides financial flexibility, access to the latest technology, and the peace of mind that comes with included service and repair coverage.

By considering factors like budget, project length, and sustainability goals, your lab can find the perfect balance between affordability and functionality. Whether you’re launching a biotech startup or managing an established research facility, both options have their place in a well-rounded procurement strategy.

Lease with Excedr: A Smarter Solution

If leasing sounds like the right fit for your lab, Excedr offers customizable leasing programs tailored to your needs. With access to high-quality equipment, full maintenance coverage, and the ability to upgrade at the end of your lease, we make it easy to focus on your research while staying within budget.

Contact us today to explore leasing options and discover how we can support your lab’s success.