Why do we use collets vs. chucks to hold parts on the lathe?
Collets are fixed in size and are good for thinner parts (0.0625” - 2.5” in diameter) whose diameters are compatible with the particular collet size. Thanks to their jaws that surround the part, collets are tight, accurate, and also good for parts that aren’t quite circular.
Chucks are good for what collets cannot hold. They are adjustable and can resize to fit larger parts of varying sizes. They are less accurate than collets, so they are less advisable for small parts. However, they are versatile and grip large parts well.