It’s time for your organization to acquire or upgrade office equipment. There are many reasons for needing new devices—it could be a machine upgrade to a device better suited for your workload, replacing a broken down or unreliable device, or the need for newer technology that can perform a variety of innovative tasks. Every business will need to acquire new equipment at some point; when the time comes, the question becomes, should you lease or buy your office equipment?

Let’s consider the idea of leasing office equipment, and the many benefits that come along with this option.

Keep up with technology
Technology advancements come at us fast and furious, and the office technology sector is no stranger to these progressions. Leasing your equipment means that your office won’t get stuck with a machine that is obsolete within a few years. When the lease is up, you can return the machine and replace it with one that boasts the latest technology, as well as better matches the current needs of your business.

Work within the confines of your budget
Leasing office equipment requires smaller monthly payments in comparison to buying devices outright. There’s also the benefit of providing less cash up front (100 percent financing is usually available). In addition, tax credits associated with leasing business equipment may lower your payments (this is dependent upon eligibility with the government and the details of the lease). Leasing is also an excellent option for small businesses that often don’t have large amounts of capital at their disposal. It’s a great opportunity to gain access to top-of-the-line equipment that would otherwise be too costly to purchase.

Avoid maintenance and repair costs
The cost of repairing office equipment can be a burden to small organizations, especially high-traffic devices that are used daily. When you own your equipment, the responsibility of maintenance and repairs falls on you. However, a leasing agreement covers any necessary repairs. This gives your company access to office technology professionals who can make the proper repairs.

Due to the many benefits that are attached with leasing office equipment, this option is very popular amongst today’s businesses. Although buying can be the right choice for companies with available capital, getting stuck with outdated technology is a risk that many smaller businesses are not willing to take. If you are looking for more information on leasing options for your business, contact Golden Gate Office Solutions today.