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The Importance of a Warranty for Capital Equipment Purchases

dos and donts

I think we can all agree that an expressed, written warranty is a very valuable component to a capital equipment purchase. We need to know that our funds are being well spent and the equipment we are purchasing will be covered for a period of time to be free of defects in workmanship. A warranty is like health insurance, we hope we never need it but when we do we are glad we have it. During the bidding process the length of warranty should not be overlooked. While similar products may have different price tags they also may have different length of warranties, this should be figured into the equation. The longer and more comprehensive the warranty, the lower the overall potential cost of ownership. The bidding process is also a good time to vette your potential suppliers, after all the warranty is only as good as the company providing it. During the bidding phase pay close attention to how responsive the company is to your calls and emails…a company that is slow to respond while trying to earn your business does not bode well for continuing customer service after they have your money. That's not to say that a company that is fast to respond during the quoting stage will provide great customer service after, but it sure increases the odds that they will. Slow response can be a symptom of the overall culture of the company you are doing business with. My recommendation is that if money is close to being equal you need to weigh the warranty and the service you were provided during the quoting stage in your final decision. A long warranty coupled with great customer service is a very valuable combination.