Up-front investment isn’t always possible for schools looking to bring in the latest technology innovations. That’s where leasing comes in. Leasing technology is an economical solution that allows educational institutions to invest in the latest equipment while fostering a more productive learning environment. Some reasons why technology leasing is relevant to the education sector include:
1. Spare money to invest somewhere else
Outright investing in technology can be expensive, especially in educational institutions that may require it in large quantities. Technology leasing allows institutions to spread the cost of investment over years. This means you still get access to necessary hardware or software, but in a way that allows you to re-route money to other areas. Having spare money reduces the need for compromise and helps schools utilise budgets more effectively.
2. Predictable payments
There can be unexpected costs involved when purchasing technology, including ongoing maintenance costs, upgrades and repairs. Subscription models give you shorter refresh cycles when compared to the five-to-10-year cycle offered with upfront purchases. This allows for more predictable monthly payments, meaning schools can forecast your budget better.
3. Pay less than the total value
Leasing technology via a subscription plan means education institutions end up paying less than their upfront capital value. The nature of subscription agreements means that businesses can oftentimes purchase add-ons, such as insurance, for less or equal to the overall value of the technology when paid upfront. What’s more, after the technology has come to the end of its productive life, you can return the equipment and continue on the same monthly payment model with the newest technology. So, while paying less than the capital value, institutions can also pave the way for quicker refresh times and more productive lessons.
Technology leasing for the education sector – find out more
Are you interested in leasing technology in the education sector? Tower Leasing are here to provide tailored funding solutions to UK Education and Public Sector through our funding lines, approved by the department of education. We work with all kinds of clients, from small village primary schools, large multi academy trusts, single independent schools, through to colleges and multi-site Universities etc.