Leasing vs buying expensive I.T equipment for your business? Here are the factors you need to consider to determine the best option.
If you’re buying expensive Routers or Switches or Firewall appliance, lab equipment, Power interruption back ups or Air conditioning for it, or other items for your business, one of the first questions to ask is whether you should lease or buy what you need. If you have the cash, making an outright purchase is the simplest way to proceed, but could possibly lead to cash flow problems down the road. The other options — leasing the necessary equipment or taking out a purchase loan — spread the cost over a period of time but increase the total amount you pay for use of the equipment. There are distinct advantages to each system and different scenarios where one acquisition method should be favored over another.
Finance IT solutions?
- IT financing is designed to provide you the freedom to acquire the newest the most advance technology you need to grow your business. It also gives you the flexibility to react to changing market needs by freeing up capital and have it ready for other investment opportunities or for day-to-day business.
- Spread cost over time to make budgeting easier. Because your payments are more manageable, you’ll know exactly how much you’ll be spending and when.
Technology financing such as leases, operating leases, loans and sale & leaseback allow you to spread payments over time, access and stay updated with the latest technology, and free up capital so you can invest in your other business goals.
- Address your business-critical issues, making it possible for you to focus on your key business objectives, like driving productivity, maintaining profitability and improving competitiveness through innovation.