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Buying Office Equipment vs. Leasing Office Equipment

Any business or office has many options when it comes to obtaining office equipment. This could be going to an office supply store and buying the products needed or leasing the office equipment from an office supply leaser. Both ways have advantages and disadvantages. There are other ways to obtain office equipment, but, buying and leasing is two of the most popular ways. There is always the option of financing, but this requires a down payment.

The Advantages and Disadvantages of Leasing Office Equipment

When a business if first starting, it may be difficult to afford and/or finance office equipment, so the next logical thing to do is lease the equipment. Leasing allows an office to get the products and/or equipment needed by renting it. The advantage of leasing is that there is usually not a financial history check or a huge deposit required, so, it will end up freeing up money until the office can buy the equipment. Another advantage in leasing is if an office only needs the office supplies/equipment for a short period of time leasing will allow the office to rent the equipment for as long as needed, usually from one to five years. On the other hand, there are disadvantages to leasing office equipment. One of the disadvantages is that you are making a payment every month. For some leasing companies, even if the office is not doing well financially, the office is obligated to continue making the payments throughout the timeframe of the original lease contract. Also, when leasing an office product, in some cases the person renting the product will have to pay for the upkeep of the product. Leasing office equipment could be a rent to own type of contract or returning the product after a specified amount of time.


The Advantages and Disadvantages of Buying Office Equipment

Buying office equipment is a great way to obtain the office products needed. One of the greatest advantages to buying office equipment is that the individual or office owns the product. Plus, once the office equipment is owned it is usually tax deductible in the first year. There are many disadvantages to buying office equipment as well. Some office equipment, like computers, may get on the technology back burner as more advanced products are invented. Then there is the cost of buying office equipment, even if one finances it. The upfront costs may be extremely high and there may be up to a twenty percent down payment required when financing office equipment. The resale values of office equipment may be noticeably lower than the purchase price. Still, with all of the disadvantages, owning office equipment is a great thing because there is complete discretion as how to treat, sale, or use the equipment, meaning, an individual or office does not have to answer to someone else when the office product or products are owned.


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