The difference is that one is mechanical and one is electronic. The old ones are pure mechanical machines with belts, gears and bolts. They need oil to perform properly. Metal rubbing against metal with no lubricant over a period of time will wear the metal, and cause failure (loose joints, noisy gears and then, complete failure eventually).
The other is an electronic machine. It's like a computer. It has circuit boards, fuses and the like. Like your computer, electronic machines do not need oiling. I would be inclined to to vacuum the bobbin area regularly, though.
bkay
Last edited by bkay; 07-06-2017 at 03:29 PM.
Reason: spelling