Nothing is written in stone when it comes to buying vs. leasing. Things change all the time. Companies are always doing what is in their best interests. They intentionally make it difficult to do an apples to apples comparison of their offerings.
If one was always and obviously more advantageous than the other, they wouldn’t offer it at all. One always has to take a number of factors into consideration whenever they are evaluating the two options for themselves. Here are a few of those factors:
- Do you want to keep the item forever or just until you get tired of it?
- How good is your credit?
- How much do you have for an initial payment?
- Is it important that you have something new?
- Are you willing to baby the item for 2 or 3 years?
Notice that I didn’t mention the overall price you pay for the item. In some cases, you pay more for concurrently leasing. In other cases, you pay less. Overall cost of ownership is not always the most important factor.
Leasing a car is often the right choice for one person and a bad choice for another. Depending on your needs, Here are a few more items where leasing makes more sense.
Lab Equipment
You might not have a persistent need for specialized chromatography equipment. But that doesn’t mean you will never need it for that one-off experiment that will come up sometime in the future. Lab equipment can be quite expensive and is prohibitive to purchase for many small labs. There is another way. Not only does this company sell new and used lab equipment, they specialize in flexible leasing options as well.
In addition to leasing options, there is also the option to buy used. This is a big deal for big-ticket items. Lab equipment is not necessarily in worse condition simply because it is not new. Some equipment might even be better after a break-in period. By the time you get to use it, you only need calibrate for your needs and you are off and running. Lab equipment leasing options are good for the following:
- Schools
- Small clinics
- Hospitals
No hospital owns every piece of lab equipment they will ever need. Lease to own products are perfect for new and expanding hospitals.
Camera Gear
Once you start taking photography seriously, you quickly realize two things: First, you have a lot to learn. Second, holy cow! That gear is expensive! Even DSLR cameras for beginners are pricey. One of the first things you grow out of are the kit lenses. You will not believe how expensive better lenses can be. Many people buy without knowing if the lens is really right for them. The better thing to do is rent or lease a couple of lenses before buying.
Sometimes, you will only need the perfect lens for a short time. Perhaps you got Super Bowl tickets and want the best memories possible. You will only need the $4,000 super zoom for a day. It will be worth picking it up temporarily. But you would never want to own it.
Computer Equipment
Are you opening a call center? You might need 20 seats to start. That might not seem like a lot. But the cost of computer and telephony equipment adds up. There are good reasons you should lease your computer equipment when you are just getting started. You really don’t know how many systems you will end up needing.
If you buy too many, you run the risk of having a bunch of equipment that is not making you any money. By leasing, you never have to pay for more than you need.
As you start ramping up, you can add more without a huge, up-front cost. If you decide to end your business or transition it to something else, you are never stuck with equipment you no longer need. For small businesses, computer leasing is a life-saver.
We live in an ownership society where possession is nine-tenths of the law. In reality, no one owns anything. We just hang onto them for a while. That includes lab equipment, camera gear, and computer hardware. For many, leasing is the superior option.
