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Maintain older machine or replace with new/newer machine?

All good info, thanks for everyone's input.

The machine in question is an 1996 Okuma with a 5020 control. I have a second one that's a little newer that also runs well that is a supplement/backup to the one with the bubble mem issue.

The machine I'm looking at is an LB4000. It would have a larger chuck than the Cadet it would replace which opens doors for me with a couple long term good customers. It's also a much longer bed length and has live tools. Capabilities I wouldn't mind having. I also have a buyer for the Cadet, as is, at a good price.

This is one of those things that sucks when you work for yourself.

Can you get an idea of how much new work? enough work/profit to pay for the new machine on top of the daily costs and your hours to run it?
 
Can you get an idea of how much new work? enough work/profit to pay for the new machine on top of the daily costs and your hours to run it?
Well, even though I'm being told there's more that we can do for our customers, we'll get the bigger machine doesn't mean I'll have the ability to get it done.

We've been very, very busy for the last couple years. The work that I do currently more than covers the cost every month.

Sure, we'll slip in some new parts here and there as we're able but it's not like I can take on an additional 20 hours a week of machining.
 
Well, even though I'm being told there's more that we can do for our customers, we'll get the bigger machine doesn't mean I'll have the ability to get it done.

We've been very, very busy for the last couple years. The work that I do currently more than covers the cost every month.

Sure, we'll slip in some new parts here and there as we're able but it's not like I can take on an additional 20 hours a week of machining.

I have bought fabrication equipment in the past with the idea the new promised work would pay for the machine... It did, but I was pretty much working for the machine payments, and not bringing myself in any extra money, plus had the expense of setting it up, and loss of the shop space. I have had other machines pay for themselves in a few jobs after I got better at thinking about the pro's/cons of a new purchase instead of the dream of something new and fancy.

Sounds like keeping your overhead down, and just updating unless machine is getting worn out, may be the way to go.
 








 
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