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Thread: Buy new now or wait

  1. #1
    Join Date
    Dec 2021
    Location
    Southwest WI
    Posts
    245

    Buy new now or wait

    As most know prices have increased significantly the past year. I have a couple of machines im looking to buy. Should I wait for a price decrease? I have been waiting and since there has been more increases. I'm wondering if I keep waiting if the price will just keep going up and up. I could go a year or so without buying the machines im looking at.

  2. #2
    Glad I already have a pretty good shop setup. Would not be wanting to buy much at these prices. The official inflation rate is about 7%, but have heard financial people saying that the real inflation rate is twice that.

  3. #3
    Join Date
    Dec 2010
    Location
    South Coastal Massachusetts
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    6,864
    Quote Originally Posted by Jim Andrew View Post
    The official inflation rate is about 7%, but have heard financial people saying that the real inflation rate is twice that.
    https://fullstackeconomics.com/no-th...nt-14-percent/

    Spare us the OANN retreads.

  4. #4
    Quote Originally Posted by Mitch schiffer View Post
    ...I'm wondering if I keep waiting if the price will just keep going up and up...
    Yes. I've been in the industry almost 20 years and never seen the rapid succession of prices increase like nowadays. In my opinion, you (consumers) should expect a quarterly price increase for the foreseeable future. We all get iron, steel etc from the same sources and we all use the same shipping companies to get machinery across the water.

    I just placed an order for a couple of custom-built machines and the factory came back with a delivery time of 11 months.

    Erik
    Ex-SCM and Felder rep

  5. #5
    Join Date
    Dec 2021
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    Southwest WI
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    Do you think prices will ever come back down?

  6. #6
    Join Date
    Feb 2021
    Location
    Portland, OR
    Posts
    225
    More price increases sound quite reliable. Decrease? Not expected in my mind.

  7. #7
    It is pretty unlikely prices will come down soon, or ever. Just being able to get machines in a reasonable time is a challenge now.

  8. #8
    Join Date
    Jun 2014
    Location
    Western PA
    Posts
    1,097
    I can’t see prices decreasing for atleast another year. Most of the manufacturers are still backordered months. You need the supply to catch up before you see prices level out. I find it hard to believe prices would decrease to 2020-2019 levels, ever.

  9. #9
    Join Date
    Dec 2021
    Location
    Southwest WI
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    I am also thinking prices will not come down, but my local dealer seems to think there will be some decrease as machines come back in stock.

  10. #10
    Join Date
    Feb 2021
    Location
    Portland, OR
    Posts
    225
    I think the top brands will stay high. Look at sawstop, they are the most expensive, are raising their prices, and stores are stuffed with their saws.

    Budget brands may find they can't push their stuff at the higher prices. I saw a lot of Laguna stuff piled up at the store today. I'd be surprised if they can hold their premium prices with the lack of matching quality and customer service.

  11. #11
    Buy now, life is short, the chance of prices dropping is low. My 2 cents

  12. #12
    Join Date
    Jun 2005
    Location
    Meredith, NH
    Posts
    153
    Buy now!
    Prices never go down.
    Today's dollars are cheaper than tomorrows dollars.

    PCG

  13. #13
    Join Date
    Sep 2010
    Location
    New England
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    2,106
    Quote Originally Posted by Philip Glover View Post
    Buy now!
    Prices never go down.
    Today's dollars are cheaper than tomorrows dollars.

    PCG
    Deja Vu

    This was the mantra in the '70's

    And I do agree that this mentality does lead to prices stabilizing at the higher level. People buying now, to avoid higher prices later, legitimize the increases.

    The OP's question was buy now or wait and said he could wait a year. IMO, even if the supply chain issues are solved, I would expect any price pullbacks to be minor. Wages will need to go up to attract new workers so I believe these increases are here to stay. It's almost impossible to give advice- no one knows where we are headed and/or what the results will be but here's mine- if you are young and can enhance your business with it, do it now. A year is a long time. Who knows where we will be as we enter 2023.

  14. #14
    Join Date
    Nov 2009
    Location
    Peoria, IL
    Posts
    2,893
    What is your age now? Can you afford the current price? We had 4 friends get cancer diagnosis in the past year, 1 just died. Now with machines taking a year to deliver, why would prices go down? No one can predict when inflation will slow or settle out. Who would have guessed the pandemic would be into the 3rd year? In other words, buy if you want or can.

  15. #15
    Join Date
    May 2012
    Location
    Gatineau, Québec
    Posts
    229
    Mitch,

    I do not know many people who have a verified track record for accurately predicting the conditions you are asking about.

    A few questions for your consideration:

    Are there lost opportunities associated with waiting one year?

    Are the gains associated with waiting one year outweighing the « most likely » higher prices that will prevail then?

    Are you planning to buy new? If so, you are probably looking at 12 months or more for the new units to arrive with a price tag that has already been signaled as being higher by manufacturers.

    Are the machines you have in mind easily available on the used market at a price and in a condition you find acceptable? Are you in a position to be able to wait for an unknown period of time before what you are looking for becomes?

    One aspect to consider is the possibility that manufacturers may offer some products at reduced prices (limited time promotions) at some point. The question here is whether such promotional offers would include the tools you need.

    Regards

    J.

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