Investing in office equipment is a major move for any business, so it's important to evaluate the options before making a decision. Today's equipment has more features and technology than before, so it's important to know what your business needs and if leasing or buying equipment makes the most sense for you.
First of all, you'll want to weigh the pros and cons of buying vs. leasing. Buying means purchasing office equipment upfront, and leasing means signing an agreement to pay for the equipment over time. Let's review the pros and cons.
Buying Pros: one-time cost, the longevity of equipment, great if you know what you need. Cons: equipment can become dated, challenging for quick growth, and can be cost-prohibitive.
Leasing Pros: spread out payments, often includes maintenance agreements, easy to change and grow with your business. Cons: contracts can be difficult, and payments can be long-term.
The best way to decide which option is right for you is to take an inventory of your business. Your vendor partners at Base Technologies can help you evaluate, but here's a start: