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Thread: Buy new now or wait

  1. #16
    Join Date
    Nov 2006
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    N.E. Ohio
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    6,271
    If you have the money to spend - buy now - and buy it on credit.
    The dollars you use to pay for the purchase will be worth less (please note - worth less, not worthless) than the dollars are worth now.
    Just make sure the credit terms are attractive - you can afford credit wise to carry such a debt, and of course as with all credit purchases - you have the means to pay off the note at any time.

    We get offers all the time for 0% for up to 18 months.
    Some even go further and offer a cash incentive on top of 0%.
    We usually take advantage of these offers when it suits us.
    Last edited by Rich Engelhardt; 01-08-2022 at 7:43 AM.
    My granddad always said, :As one door closes, another opens".
    Wonderful man, terrible cabinet maker...

  2. #17
    Quote Originally Posted by Mitch schiffer View Post
    Do you think prices will ever come back down?
    No. I have never seen machinery get cheaper. Only more expensive. As I tell my customers: All that happens is that you pay more for the exact same piece of equipment and still have to wait.

    Erik
    Ex-SCM and Felder rep

  3. #18
    Join Date
    May 2021
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    Spartanburg South Carolina
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    297
    Quote Originally Posted by Erik Loza View Post
    No. I have never seen machinery get cheaper. Only more expensive. As I tell my customers: All that happens is that you pay more for the exact same piece of equipment and still have to wait.

    Erik
    The manufacturing cost increases are here to stay. I suppose the shipping cost could retreat some in the future but that is a crapshoot at best. To those that think inflation is 7% are dreaming. Some of the equipment buy and resell has gone up almost 100%

  4. #19
    Join Date
    Apr 2013
    Location
    Kansas City
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    Deflation would be a worse sign for the economy. Inflation is how a free market system corrects for supply/demand imbalance. I'd be looking hard for used equipment before I paid some of these prices.
    Hobbyist

  5. #20
    Quote Originally Posted by Scott Clausen View Post
    The manufacturing cost increases are here to stay. I suppose the shipping cost could retreat some in the future but that is a crapshoot at best…
    Professionally speaking, we (anyone in the industry) have been telling this to prospective buyers since shortly after the pandemic started. Some were smart and realized it was not just another sales pitch. Those are the ones who were successful in acquiring machinery and whose businesses are currently doing well. Others are still dug in, thinking it will “go back to the way it was” or whatever. It’s not and may never. Those are the guys who are circling the drain, whether or not they realize it.

    Erik
    Ex-SCM and Felder rep

  6. #21
    Join Date
    Dec 2007
    Location
    Kansas City
    Posts
    842
    Rapid inflation encourages spending which furthers inflation, wash rinse repeat. I personally can't see a world where prices go down significantly. I see a lot of scenarios where prices continue to increase.

    If I needed/really wanted something, I would get it now. That's the thought process I used in ordering a slider back in September. I still don't feel great about it, but I wanted it and I can't see prices going down.

  7. #22
    Join Date
    Dec 2021
    Location
    Southwest WI
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    Thanks for all the replies to answer a few of the questions I am still pretty young (26). And I will be using the tools to make money as im rapidly switching my business from contractor to cabinet builder/wood worker. I am selling one of my rental properties soon and plan to put that money towards renovating a old grocery store i own to be my shop as well as a small store front for me to sell items I make. I could take some of that money to buy a few tools that I am wanting to increase productivity. Putting money towards tool would ultimately delay my renovation project of the new shop. Theses tools include a dovetail machine (i was looking at the powermatic), a Hoffman dovetail system for boxes and frames, a blum mini press, a automated stop block system for the miter saw, and a stand alone pocket hole machine. I have not personally seen much of these in the used market. I have seen a blum on ebay but missed out on the auction a few months back. These machines are not 100 percent nessicary but they would increase my productivity. As of now I am able to keep up with what I have.
    Last edited by Mitch schiffer; 01-08-2022 at 10:41 AM.

  8. #23
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    Nov 2006
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    N.E. Ohio
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    Equipment for business purposes is a whole different ballgame.

    Talk to your tax preparer and go over the different ways equipment can be amortized & what your tax liabilities are going to be with the sale of rental property.
    My granddad always said, :As one door closes, another opens".
    Wonderful man, terrible cabinet maker...

  9. #24
    Join Date
    Dec 2021
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    Southwest WI
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    Quote Originally Posted by Rich Engelhardt View Post
    Equipment for business purposes is a whole different ballgame.

    Talk to your tax preparer and go over the different ways equipment can be amortized & what your tax liabilities are going to be with the sale of rental property.
    I have talked with my tax advisor and my understanding is that I will have more then enough write offs to carry me into the next year's it is really a wash either way on that. I also have a loss on paper from the previous year that I can carry into this year.

  10. #25
    Join Date
    Nov 2006
    Location
    N.E. Ohio
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    I also have a loss on paper
    I love it when that happens .
    My granddad always said, :As one door closes, another opens".
    Wonderful man, terrible cabinet maker...

  11. #26
    Join Date
    May 2008
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    MA
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    I do not believe prices will come down in any significant way (work in the manufacturing industry).

  12. #27
    Join Date
    Feb 2014
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    Lake Gaston, Henrico, NC
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    If you wait, chances are you'll be disappointed in two ways. Buy now, and there is only the possibility that you will be disappointed one way, but that will be in the non-forseeable future, and you will have had the use of the machinery in the meantime.

  13. #28
    Quote Originally Posted by Tom M King View Post
    If you wait, chances are you'll be disappointed in two ways. Buy now, and there is only the possibility that you will be disappointed one way, but that will be in the non-forseeable future, and you will have had the use of the machinery in the meantime.
    This is a great summary, Tom ^^^… Gonna’ have to remember how you put it.

    There are no ideal situations these days. The sooner folks accept this and plan accordingly, the sooner they move forward towards enjoying their hobby machine/becoming productive in business. Remaining paralyzed only hurts you while others adapt and move on.

    Erik
    Ex-SCM and Felder rep

  14. #29
    Join Date
    Apr 2018
    Location
    Cambridge Vermont
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    I don't think prices will drop. More likely they will stabilize. What we could see is sales like 10% or 15% off. Companies like Powermatic would often have one or two a year. But as long as there's orders for machines that haven't been built yet I wouldn't expect to even see much in the way of anything other than full retail. It amazes me just how far up prices have gone. I've gotten in a habit of looking at my tools and thinking "I could make a profit if I sold them".

  15. #30
    Join Date
    May 2013
    Location
    Auckland, New Zealand
    Posts
    471
    you will always be waiting... you only live once. buy it and get it over with

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