13 Oct Leasing IT Hardware Vs. Buying: Which Option is Right for You?
When determining whether to lease IT Hardware or buy new equipment, be sure to look at the advantages and disadvantages of both:
- Keep your equipment up to date and avoid technology obsolescence
- Predictable monthly expenses help you budget more effectively
- Paying nothing upfront for those businesses that struggle with cash flow
- In the long run, leasing in more expensive
- You keep paying even if you stop using the equipment
- It’s easier than leasing with less paperwork involved
- You control your equipment maintenance schedule
- Your equipment is tax deductible
- The cost of the initial outlay for equipment may be too high
- Equipment is eventually outdated
- Lessened ROI
As no business is the same, it’s important to consider what’s best for your organization. Be sure to ask questions regarding lease agreements and warranties.