3D printer leasing and finance for your business

3D printing is a rapidly developing technology. It is relatively slow compared with most traditional subtractive manufacturing, but it does make it possible to create designs that would be impossible by any other methods such as casting or machining.

3D printing allows the fabrication of complex shapes and internal structures which cannot be produced by any other manufacturing method.

It is, therefore, currently suited to areas such as jewellery, aerospace and automotive applications where the relatively high cost is less important than precision and light-weight - but with costs falling with each new generation, 3D printing is constantly finding new applications, and being adopted by more businesses.

The cost of a 3D printed part depends only on design time, the amount of material used, the time taken to print it and any post-processing required. Every item can be customised to meet a particular specification without impacting the manufacturing costs. 3D printing is already the best option for a single or short-run part that needs a quick turnaround - and for producing parts with intricate geometry that cannot be created in any other way.

The 3D printing market is growing

3D printing is experiencing such inflation because companies from multiple industries use it for more than prototyping. 3D printers today are capable of printing greater materials. Now, there is more 3D printing and in metal and less plastic printing. There is more 3D printing in metal and less in plastic. The trillion-dollar metal market is a more important market than ever for 3D printers to address. 

Between 2017 and 2018, a 3D printing survey showed that although plastic was the most common material, its share in 3D printing fell from 88% to 65% over the space of just a year, while the metal printing market rose from28% to 36%. So, at this rate, it seems that metal will overtake plastics and represent more than half of 3D printing in 2022.

It's predicted that there will be specialised areas where 3D printing is highly competitive. One example would be bionic-prosthetic limbs for children. The usual price for these types of limbs would be around £10,000, and there would be a need to replace them regularly as children grom. 3D printing is a much more affordable option and can be customised to the child's taste. 

The benefits of 3D printing for your business

Here are some ways 3D printing will give you a competitive edge against your rivals.

1. Timely development of prototypes
Developing prototypes is an essential aspect of any manufacturing process. However, this is known to take a lot of time, effort and resources. And not only does this take a lot of time, but it incurs high costs. 3D printing will allow you to produce prototypes in a shorter time frame while saving you money. 

2. High-quality products
3D printing solutions help you offer your market high-quality products at a lower cost. The computer-controlled 3D printer will provide an exact replica of the original product, ensuring the quality is second to none. 

3. Less equipment
When you compare a manufacturing plant to 3D printers, 3D printers will occupy a smaller space and produce better products. Less equipment means that you can save on space, lower the cost of operation and maintenance, and speed up the process.

4. Reduces overhead costs 
One of the biggest concerns a business owner will probably have is overhead costs, including rent and admin costs and much more. In addition, a large plant will occupy a larger space, require more operators, and incur more costs in terms of maintenance and service. The costs of 3D printing are much lower because printers occupy much less space. 

5. Minimal manpower
Operating 3D equipment isn't as labour intensive as traditional manufacturing plants. Most advanced 3D solutions are computer-controlled and come with smart technology. 

6. Boost efficiency
Unless your systems are efficient and reliable, you'll spend a lot of time, effort and money correcting errors. Getting a replacement may take days, if not weeks. Not only is the printer less likely to break down, but it's also easy to replace a faulty component so you can focus on other areas of the business. 

What is 3D printer leasing?

A printer lease will allow you to spread the cost of your device over 3 to 5 years. You will pay fixed equal amounts, either quarterly or monthly over a fixed term rather than making a large bulk payment at the point you receive your equipment. 

What are the costs of 3D print equipment?

Making efficient use of 3D printing will require more than simply buying in a machine. When you are setting up a 3D print operation the basic tool will also require a range of ancillaries, from final machining and finishing systems to material handling solutions - but the most important adjunct to 3D print will be a design office ready to deliver the specialised design skills required.

How does 3D printing equipment finance work?

The leasing company will pay the supplier invoices, and you'll pay the leasing company regular monthly payments. As a result, the impact on your cash flow will be minimised, and you'll immediately be able to enjoy the benefits of the new equipment. Leasing is considered one of the most popular methods of financing business equipment. 

A business loan could provide a simple way to spread the cost of any 3D printing manufacturing solution.

Unsecured business loans operate much like a personal loan and can be arranged quickly - inside a working day with some lenders. They are suitable for smaller sums and repaid in monthly or quarterly instalments over an agreed term under 5 years.

However, Asset Finance may be able to offer a more appropriate solution - and reduce your costs.

Asset Finance is essentially a type of finance secured on the asset itself. If you were unable to make the repayments the lender would simply repossess it. This reduces the risk to the lender, and so can reduce your monthly repayments. It could allow you to have the latest 3D print equipment working in your business for the lowest initial cost.

What 3D Printing Finance options are available?

There are a few options available for financing 3D printing equipment. Read on to find out more!

There are two main types of Asset Finance

Hire Purchase for 3D printing

Hire Purchase - or HP - lets you acquire equipment with a single deposit payment. It then lets you spread the remaining costs in regular monthly instalments over up to 5 years. At the end of this term, you own the asset outright - making Hire Purchase ideal for equipment which has a high cost and a relatively long life. However, Leasing may be more suitable. Leasing works much like a rental agreement. The finance provider will acquire the 3D printer or other equipment for you, and let you rent it from them.

It has an important advantage in a fast-moving field such as 3D Printing - at the end of a lease you are not landed with obsolete equipment, and simply replace your 3D print system with the latest model.

Finance Lease for 3D printing 

You can also refinance your existing assets - letting you use your investment again. You may find that your existing equipment represents the largest investment in your business.

Asset Refinance can let you use that investment again - while still retaining full use of your equipment

It works by letting you finance the equipment you already own to release cash - refinancing existing assets. So with asset refinance, the finance company will buy the asset from you for an agreed cost based on its current market value, providing you with the cash sum you need. They will then let you buy or lease the asset back from them, under a new finance arrangement.

Your business can carry on using the asset just as you do now, and at the end of the agreement, it can become your property again.

The help you need from Rangewell

Getting the most competitive funding for your needs is essential.

At Rangewell, we know lenders that offer the most attractive funding solutions. But we don’t stop there. We will work with you to understand your business plans, and use our expertise to help find the funding that meets your needs. We can provide solutions such as low start finance, payment holidays, and funding for businesses with less than perfect credit ratings.

Whether you are a sole trader with a small workshop or a large-scale manufacturer, simply call us to get the Rangewell team working for you - and the funding you need to start making the most of 3D printing.