What Other On-Going Costs Do I Need to Consider - Maintenance 

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If you are looking to get larger and more complex pieces of equipment, it is likely that these will need to be maintained and serviced.  You should consider this carefully as this will incur a cost over and above the buying cost of the equipment.  It is also a potential on-going cost for the life of the Product.

If you getting the equipment new from a supplier then they will provide a price for the on-going maintenance, or have packages designed to cover this.  They will also have a maintenance service available, either themselves or another firm they out-source the work to.  Most products will come with a form of warranty guaranteeing them against manufacturing faults or problems in the first year.  However, many of these warranties are conditional on having the equipment serviced regularly by an approved technician.  This also applies to extended warranties which are often available.

If you are buying second-hand equipment you should consider the maintenance both which has been carried out in the past and what you will do in the future.  It is advisable to ask the seller to produce evidence that the equipment has been maintained to a reasonable standard in the past as this will reduce the risk that there is an existing fault with the equipment.  An existing fault may mean the equipment is not safe to use!

You should also consider if you want the equipment maintained in the future.  This will be an additional cost, and you will have to find a technician who can do this for you.  This may prove to be difficult particularly for older equipment which may now be obsolete, and spares hard to come by.

See our Advice on buying second-hand equipment for more tips.