Buying vs. Leasing vs. Finance: Which Option is Right For Your Business? : RushPRNews - Newswire & Global Press Release Distribution

 
Bookmark and Share

Buying vs. Leasing vs. Finance: Which Option is Right For Your Business?

September 29, 2013

Buying vs. Leasing vs. Finance: Which Option is Right For Your Business?

London, England (RPRN) 09/29/13 — If you’re stuck for a solution when it comes to replacing your computers, networking equipment or any other technology that ensures your business runs smoothly, then you have two or three options. Buying, leasing, and buying on finance are three different ways to get the technology that you need. They all have advantages and disadvantages, so to help you decide which might be the best for your business, we’ve put them all together here.

The Advantages of Buying

Buying your technology is easy. It’s a simple exchange between buyer and seller, and the buyer instantly owns the item. The maintenance is entirely in your hands – you can decide when and where and how much to pay when it needs fixing. Buying what you want is also very easy, as there is often little to no paperwork involved.

The Disadvantages of Buying

The main disadvantage of buying is that you need the money upfront. Without it, you cannot buy it, simple as. Another disadvantage is that the technology market moves very quickly, so when your latest purchase becomes outdated, you have to wait until you can afford the new version. Even if you can afford to update your technology each time something new comes along, you also have to figure out what to do with the old stuff.

The Advantages of Leasing

Essentially, leasing your technology means that you pay to have and use the equipment, and as soon as the contract ends, you hand it back. There are several advantages for this option. Some leasing companies will ask for a deposit, but other than that, you don’t have to pay for anything up front. Instead you pay a predictable amount each month. With leasing it is easy to get the latest technology so you’re never left behind. Companies such as Rent IT make renting really easy, as they have a range of Apple Mac products.

The Disadvantages of Leasing

The disadvantage that holds the most weight when it comes to leasing is that it costs more in the long run than buying. How much more will depend on the product itself and how long the leasing contract is. Often you are also obligated to pay even if you stop using the equipment, which may happen if your business changes. Finding somewhere that rents cheaply may be a lot of hassle, and there will be paperwork to fill in.

The Advantages of Purchasing on Finance

Purchasing on finance means that you stagger your payments over a longer period. You still get the item instantly, but you don’t have to pay the full price straight away. You can choose how long you pay over too.

The Disadvantages of Purchasing on Finance

The disadvantages of purchasing on finance are that it often costs more than buying it outright. You can shop around for the best interest rate, however. You are also stuck with your technology until you can afford to purchase something new.

Media Contact Name: Amellia Hope
Main image credits: RushPRNews
About the author:

Digital News are business news afficianados, dedicated to bringing you the 'buzz' in the digital world. From business and eco to travel and sport, Digital News are in the know. 

Click here to see all news from this author/company

Filed Under: Technology, PRESS RELEASE, SOFTWARE- COMPUTER APPLICATIONS, United Kingdom

RUSH PR NEWS newswire and press release services at rushprnews.com / Anne Howard annehowardpublicist.com

Content- Legal Responsibility - All material is copyrighted - You may repost but you MUST link back to the original post on your page and acknowledge Rush PR News as the news source. Rush PR News is not legally and/or morally responsible for content of press releases, opinions expressed or fact-checking.

Rush PR News cannot be held legally responsible for material published and distributed through its newswire service or published in its press-room and therefore cannot be sued for published material. Third-party must be contacted directly to dispute content.

Rush PR News is not the contact for material published.

RSSFeed PRESS & SOCIAL MEDIA RELEASES

Yoga on Water...Without Water

Toronto, Ontario 08/26/15 ·  - Standup Paddleboarding (SUP) is one of the...

Hilltop Christmas Trees Available for Home Delivery

New York, NY 08/19/15 · The perfect Christmas tree is the centre piece...

MONTREAL MEDIA ALERT: Moment™'s world premiere at McLean’s Pub: compact karaoke soundbar

MONTREAL 08/17/15 · Moment™'s world premiere, compact karaoke soundbar  to revolutionize...

Network Heroes Offers Full HIPAA Audits In Las Vegas, NV

Las Vegas, NV 08/14/15 · Network Heroes Partners with the Best HIPAA Compliance...

Dynamic Blending Specialists, LLC Kicks Off an Indiegogo, Inc. Crowdfunding Campaign

South Jordan, UT 08/14/15 · – Dynamic Blending Specialists (DBS) a cosmetic formula...

Aspect Imaging launch one-touch MRI at WMIC, 2015

Shoham, Israel 08/12/15 · Aspect's advanced one-touch MRI will be presented at...

Growing Problem of Anti-Semitism in the United Church of Canada

OTTAWA, ON, Canada 08/10/15 · Proposals Before The United Church Of Canada General...

Thriveon Earns Respected Technology Industry Credential

New Ulm, MN 08/06/15 · CompTIA Managed Services Trustmark™ signifies commitment to industry...

Portable Road Weather Information System (RWIS) Available

Nashville, TN 08/03/15 · Digital Traffic Systems, Inc. of Ashland, Virginia, announces...

Dry Paddleboarding Across Canada

Uxbridge, ON 08/03/15 · Uxbridge, August 3rd, 2015 - Standup Paddleboarding (SUP)...