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Pros and Cons of Leasing Equipment

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When deciding how you want to obtain computer equipment for your home or business it is vital that you way up the pros and cons associated with leasing before finalising your decision.

Pros:

• If any repairs are required then part of the leasing cost is for the company to honor all repairs
• As the price will be on a fixed contract, each monthly payment will be the same and will prove easier when doing your accounts
• Part if not all of the price can possibly be written off on your taxes
• If you have owned the equipment for some time then it may be possible to upgrade as technology is updated

Cons:

• You can potentially be paying more in interest rates and have to put down a deposit to secure the equipment
• You will never own the equipment, it is always owned by the leasing company

Never rush into choosing how you will get your new computer equipment, there are benefits behind leasing and buying and whilst leasing is the easier option most of the time, it will not be suitable for every business or home in the world.

Top Tip: Part of your decision is to remember that when purchasing office equipment, over time it will lose value and will eventually become so out of date, it will not have much use in a modern office and I find where possible leasing is the best option. With purchasing, you would need to update your equipment often to keep up to date with technology but with leasing this does not prove to be a problem because upgrades are usually part of the package. Ask when considering if this is a possibility.

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