Rent, Lease Or Purchase Business Office Equipment - What Makes More Sense?

New and expanding businesses must make many decisions as they get up and running

. Often the biggest struggle facing the owners is finding ways to stretch their dollars. Office business equipment can be very expensive, and many do not have the capital to purchase new machinery outright. Leasing or renting office equipment can be an attractive option.

While purchasing IT types of machinery requires either substantial upfront costs, or established credit in order to obtain financing, it does offer the advantage of warranties in the case of defective materials. With technology evolving as quickly as it is, it is common for a business owner to find that the equipment that was recently purchased is already obsolete. Because of this, more and more companies are choosing to rent or lease their IT equipment in particular.

Signing a lease for items like business copiers and printers allows you to have the newest technology often at relatively low monthly rates. A basic lease agreement can usually be modified to include additional services from the lessor. These can include handy extras such as periodic servicing and toner and ink replacement cartridges. However, there can also be extra charges for printing or copying more pages than the original lease called for. Most leases allow for automatic replacement of defective machinery, as long as the problem is not one that was caused by yourself or your staff. However, most lessors are willing to work with businesses that want or need to either upgrade or downgrade their current lease to meet changing demands.

Renting provides the state of the art IT office equipment, sometimes without a contract, or with very short term contracts. Companies that rent business copiers will allow pay as you use terms. They can deliver the equipment you need wherever you are on very short notice. If, for example, a business at a trade show and running short on handouts, can make last minute arrangements to rent a copier to accommodate the immediate need. Printers usually cannot deliver last minute orders as quickly. When the trade show is over, the rental office will pick up the machinery, charge just for the usage, allowing the business owner to leave, as he arrived at the trade show, unfettered by big business machinery.

The primary differences between renting and leasing refer to the existence or lack of need for a fixed-term contract. Leases are generally written for at least a year or longer, while rentals can be for as short a term as just a few hours. Leases do offer the advantage of pre-budgeting a fixed monthly payment for a set period of time. But there are times when the convenience of renting far exceeds the need for budget constraints.

by: Stephen Daniels

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