Going with new or used equipment depends on the business and case by case basis. In most cases, it’s preferred to choose new equipment. Even though it’s more expensive, it has a longer lifespan. In specific industries, small business owners have to keep pace with technology. Going new could increase productivity or reduce consumption, which is essential in a cutthroat business environment. Used equipment can be a good choice in certain circumstances. For example, when the borrower defaults, the lender (or bank) seizes the equipment and needs to unload it to recoup its principal. This is the most common way to buy used at a discount.