Consider the cost
When acquiring office equipment for your business, the decision between leasing or purchasing can be complex. Leasing typically involves lower upfront costs, allowing you to preserve capital for other expenses. On the other hand, buying outright eliminates ongoing lease payments. Consider your budget and cash flow to determine the best option for your specific needs.
Equipment needs and technology updates
Leasing offers flexibility and access to the latest technology, allowing for upgrades or replacements at the end of the lease. Buying provides long-term ownership but may require costly upgrades in the future. Consider the pace of technological advancements in your industry to make an informed decision.
Maintenance and support
Leasing companies often provide ongoing maintenance and support, while purchasing may require handling maintenance internally or through a third party. Consider your company’s resources and capabilities to handle maintenance when deciding whether to lease or purchase.
Tax implications
Leasing office equipment can have different tax implications compared to purchasing. Leasing expenses may be tax-deductible, while purchasing allows for depreciation deductions over time. Consult with a tax advisor to understand the specific implications for your business.
Resale value and asset ownership
With ownership, you have the option to sell or dispose of equipment as needed. However, outdated equipment may be challenging to sell. Leasing eliminates concerns about disposal or finding buyers for upgrades.
Every business is different
The decision to lease or buy office equipment depends on your business, industry, and financial situation. If you have questions about leasing through Central Business Equipment, feel free to contact us for guidance.