How Much Does it Cost to Buy an ATM Machine?
Cost of an ATM Machine – Should You Buy an ATM For Your Business?
Have you been considering purchasing an ATM for your business and are curious as to how much an ATM costs? What about the cost of a New ATM vs. a Used ATM? Are you wondering if owning an ATM is a good idea for your business?
See if the price of an ATM, along with ownerships costs of buying an ATM machine, is right for you and your business.
ATMs can vary in price ($2,000-$8,000), but typically the average new, freestanding ATM machine will cost around $2,300-$3,000, and a used ATM will generally cost between $1,200-$1,800. There is also an installation fee to consider, which normally runs $200-$300, but many business owners find the installation process to be relatively easy and choose to install the ATM on their own.
Additionally, you will need to have an adequate cash flow to stock the ATM with available funds. The average ATM goes through $6,000-$8,000 per month. Generally, you will need to have around $1,500-$3,000 per week to fill the ATM. Keep in mind that nobody likes an empty ATM.
Maintenance also needs to be considered when buying an ATM for your business. Luckily, ATM machines are extremely reliable and come with a 12-24 month warranty on parts. Lieberman also offers an ATM Service Team that can usually talk you through most repair issues. However, it is a good idea to budget around $200-300 per year for ATM maintenance or repairs to be on the safe side.
Is Owning an ATM Machine a Good Idea for Your Business?
Whether it’s new or used, to buy an ATM can be a great investment for many small, medium and large business owners alike. After all, haven’t we all needed cash at some point in time and have looked for a convenient, nearby ATM?
Here are a couple questions to ask to determine if it’s beneficial to buy an ATM machine for your business:
- Are there any nearby ATMs?
- How many times have customers asked if either you have an ATM on-site or where the nearest ATM is located?
- Is your business “cash only”?
- If not, do your customers typically pay with debit or with credit cards?
- If paying with debit cards, do customers ever ask to receive cash back?
- Does your type of business typically have ATM machines on-site?
If you answered yes to one or more of these questions, buying an ATM and the cost of the ATM machine might be worth the investment for your business.
ATM Resale Value
Fortunately, ATM machines tend to hold their value quite well. As mentioned above, the average price of a used ATM is between $1,200-$1,800. So, if you choose to buy an ATM for your business and later decide it is not the best fit for you, placing your ATM for sale is definitely an option, perhaps even a profitable option. If you choose to sell your used ATM, we can help you sell your machine to another location or ATM operator.
Additional ATM Machine Cost Information
Lieberman Companies is a 4th generation family-owned business with an A+ rating from the BBB (their highest). We sell, service, and process ATM machines to several different location types including retail stores, dispensaries, bars, hotels, barber shops, nail salons, bowling alleys, tattoo shops, and more. Our ATMs are competitively priced and come equipped with all the latest upgrades.
To buy an ATM or get answers to any other ATM-related questions, please call us at 952-887-5303 or simply fill out the form below to get started.