Lease or Buy? The Benefits of Both

Chicago office equipment

Quality office equipment is essential to your Chicago company's success. New office technologies can improve productivity, reduce costs, and improve employee morale. Once you've decided to upgrade your printers or copiers, your next decision is whether a lease or purchase is the better choice for your company. There are advantages to both options; we've listed some of the most common here.

Leasing Benefits

Leasing is an excellent option and an attractive choice for small Chicago startups with limited capital. Check out these advantages:

  • No upfront cash— Purchasing usually requires a substantial down payment. If tying up working capital is something you'd rather not deal with, leasing allows you to upgrade without a significant outlay of cash.
  • No maintenance worries— Leasing terms usually include repair and maintenance—a real cashflow advantage if you've been dealing with high repair costs for your aging office equipment.
  • Access to new technologies— Leasing can be a real technology boon for a small company. Predictable monthly payments make it easier for businesses on a small budget to afford new technologies sooner, leveling the playing field with the competition.
  • Faster upgrades— Leasing upgrades make it easier to acquire new features as you need them.

Purchasing Benefits

For organizations with the available capital, there are some decided advantages to purchasing office equipment outright. Here are the most common benefits:

  • Lower overall purchase price— An upfront cash purchase delivers an overall lower total cost of the device.
  • Tax write-offs— The purchase price of new office equipment provides a greater one-time tax deduction than a monthly lease payment.
  • The benefits of ownership— Owning your office equipment has its perks. You call the shots for maintenance and whether you'll keep the device or resell it to upgrade to something newer.

The right office equipment can give your Chicago company the edge you need to succeed in an increasingly competitive business environment. Contact us to learn how Proven can help your company accomplish more today!

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