I assume in this case your older machine does not. I recommend you use a tension and compression holder. I have used all types. There are different tension and compression holders for different ranges of taps. If you use to large of a holder then the tension and compression ratio might be to stiff for the application that you have.
Most people try to purchase the one magic tool that does all applications.
Some times this works, but most often you end up sacrificing. My suggestion is to use the holder that your tap size falls in the middle of the holder s range. The next important factor is the pre-drilled hole. There are many charts for finding out what size of drill should be used for pre-drilling a tapped hole. In considering this you must keep in mind the type of material you are drilling.