Commercial vacuum pumps are expensive — there’s no getting around that fact. Vacuum pumps are a sizable investment for any business, costing anywhere from a few thousand dollars to tens of thousands of dollars.
If you have an older vacuum pump nearing the end of its lifespan, you probably spend significant amounts of money on repairs each month. Some older vacuum pump maintenance costs can reach several thousands of dollars each month when you consider labor and parts. Add in the downtime for your operation, and the cost of mechanical issues can skyrocket.
It’s possible that at the end of the lifetime of your current pump, the payment on a new vacuum pump may be lower than your current repair costs. You’ll likely find that your return on investment (ROI) is positive for a new pump purchase too.
But how do you afford that new pump? Should you pay in full, go with installment options, or find another way? Below you’ll find three financing options to consider for your new vacuum pump.