How Much Does it Cost to Buy an ATM Machine?
The Cost of Investing in an ATM Machine 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? Would owning an ATM be a good idea for your business?
Continue reading below to 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 ($2,500-$8,000), but typically the average new, freestanding ATM machine will cost around $2,500-$3,000, and a used ATM will generally cost between $1,600-$1,800. A few factors that affect this cost include display type, cassette size, and enhanced security features. The average cost of a new, through-the-wall ATM such as the Genmega GT3000 is $3,999 and the wall-mounted, more compact Genmega Onyx-W is $2,999.
There is also an installation fee to consider, which normally runs between $250-$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.
Costs for maintenance and replacement parts also need 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, to be on the safe side, it is a good idea to budget around $200-300 per year for ATM maintenance, repairs, and replacement supplies such as receipt paper rolls.
Is Owning an ATM Machine a Good Idea for Your Business?
Whether it’s new or used, buying 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 you have an ATM on-site or where the nearest ATM is located?
- Is your business “cash only” or do you use a significant amount of cash?
- Are you tired of high credit card fees?
- 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 may have a positive impact on 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 $1,600-$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. When you buy a new ATM from Lieberman Companies, they are all pre-programmed and shipping is included in the cost.
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.