Lease vs Buy Equipment Analysis – Which Is Right for Your Company?
A difficult decision for all businesses, regardless of size, is whether leasing a piece of office equipment is better than buying it outright. There are thousands of articles and advice columns regarding this decision. The problem with these articles is they only focus on a few aspects of a company, rather than what makes the company unique. Small businesses and large corporations both have a variety of reasons why leasing equipment or purchasing office equipment is the best decision for their company. Our customized quiz “lease vs buy equipment analysis” is focused on evaluating an entire company before giving advice on which option is the best.
For the general reasons to lease or buy, keep reading.
Leasing enables you to:
- Keep your equipment current with the latest state-of-the-art technologies. Once your lease concludes, you can upgrade to newer, more efficient equipment with no penalty.
- Solidify your budget and calculate monthly expenses more accurately. With a lease, you lock in a specific monthly payment, which helps you budget more effectively.
- Eliminate the need to make large, up-front payments to keep your cash flow free.
- Keep up with the competition by enabling you to acquire better technology at a lower price.
Buying equipment enables you to:
- Simplify your decision — just choose your equipment and make the purchase.
- Determine your maintenance schedule. Leases typically require you to maintain equipment in a specific way. When the equipment or machine is yours, you decide.
- Deduct the purchase. . Section 179 of the IRS code allows for the full cost of your assets to be deducted in year one which is cost-effective.
With over 60 years of experience in the office equipment and technology industry, RJ Young is fully capable of helping you address your business technology needs — whether that involves an outright purchase or an easy, year-to-year lease.
We offer a wide variety of office equipment, from copiers, printers, and scanners to production equipment, specialized wide-format printers, and even interactive whiteboards to phone systems and security cameras. That’s everything your business needs to be successful, efficient, and competitive in today’s markets.
Leasing Manager, Brooke Huffman, says, “RJ Young is pleased to offer our customers a variety of contract options. Between our lease agreements spanning one – five years, and the availability of both Fair Market Value and “Dollar Buyout” (lease to own) plans, each business can easily customize its contract to best suit short and long-term needs.”
If you would like more information about leasing vs buying, the experts at RJ Young can provide additional information to help you make the right decision for your company. Feel free to fill out our contact form or call us at 800-347-1955. We look forward to hearing from you!