If you are a small business owner, considering the price tags associated with office equipment is scary. Many new businesses don’t have a high budget for investing in equipment, so leasing necessary devices is a common practice.
Of course, there are reasons why paying the extra initial costs for purchasing office equipment might be worth the heftier price. So how do you know if buying or leasing office equipment is best for your business?
We’ve put together some tips for choosing between buying or leasing office equipment:
Buying
Purchasing office equipment has many benefits that leasing can’t offer. First, buying the devices for your office means that you own them with no strings attached. You can also make alterations or replacements without violating any contract. You are free to choose the brands and models you desire since you aren’t bound to any seller’s restrictions.
If office equipment fits your budget, is inexpensive, and good ratings, purchasing is the best choice. Buying also comes with special tax incentives unique for purchasing equipment.
Many industries only require robust office technology periodically, making buying a poor option for those businesses because when the equipment becomes outdated, you’re stuck with it. For many expensive devices, purchasing might not even be an option for companies with a small budget.
This is where leasing comes in to play.
Leasing
Leasing office equipment has become an effective way to assist business in filling their equipment needs. If you need to upgrade equipment every few years to keep the latest and greatest devices in your office, leasing is a wise option for your business. Leasing also presents a smaller upfront cost, saving the cash your business needs to operate with.
Another benefit to leasing equipment is the maintenance programs offered by leasers. When you own a device, you’re on your own when it comes to repairing and maintaining devices in your office. Leasers provide maintenance contracts to make sure your devices are maintained and can be restored when a device fails.
Whether you choose to buy or lease office equipment, Peter Paul Office Equipment has the equipment your business needs. Contact us today to see what buying and leasing options are available for your company!