As a new or small business, it can be hard to determine whether leasing or buying equipment is the right option. Should your company need new computers, electronic equipment or another form of technology, you may be debating the pros and cons of technology finance over buying the equipment outright. In this blog post, we explain the top benefits of leasing tech equipment and why leasing technology is often the better option.
Top benefits of leasing technology
1. Keep your equipment relevant and up-to-date
In today’s digital world, new technology is being released and updated all the time. The last thing you want is to make a significant investment in technology, only for it to become quickly outdated and useless. When you lease equipment, you can easily upgrade your equipment when your lease ends without incurring a loss.
2. Manage your monthly payment
If you choose to lease technology, you will make one regular monthly payment and can easily organise your finances to include this payment. When you buy technology outright, not only do you have to pay a large upfront sum but you must factor into your monthly budget potential maintenance and replacement costs, making it difficult to manage your budget effectively.
3. Grow your business
Leasing can give you the opportunity to grow your business with technology, perhaps with a VoIP system or automated technology, that you may be unable to afford if paying upfront. This will also allow you to keep up with, and potentially even overtake your competitors as you grow your business.
4. No upfront cost
There is no doubt about it, technology can be expensive. Even purchasing computers, which are seen as a necessity for modern businesses, can involve paying a huge upfront cost. Cash flow is extremely important for new and small businesses, and leasing allows businesses to have access to the latest technology without harming their cash flow.
To learn more about leasing technology, and how leasing could benefit a new or small business, contact Tower Leasing today. One of our expert team would be more than happy to answer any questions you may have about leasing technology.