Buy or rent laptop: Which one is better option?
Life is all about choices and the choice you make makes you. Well, if you are running a business or an organization or even for personal use you need equipment and resources to work efficiently. IT equipment, laptops, printers etc. are always needed. Should you buy it or rent it? If you are confused about what to choose then this blog will certainly help you out.
Like a coin has two sides, similarly there are pros and cons of both buying and renting laptops in bangalore. It totally depends upon your business requirements. If the requirement of laptop is relatively small and you have the funds or you can get it on low interest loan then buy it. However, if you require more laptops for your business- related needs, renting is a good option. While renting you do not block a large amount of cash and use it to grow your business. Let’s look into the pros and cons of both buying and renting laptops:
Pros of renting a laptop
*Renting gives you the up-to-date and latest technology laptops. Eventually tech equipment like laptops become obsolete, but while renting you get newer, faster and latest laptops at much cheaper rates. *You have a fixed monthly expense and plan your budget efficiently. *No heavy down payment *You can save your business from financial draining and invest to acquire more productive resources for your business. However, there are cons of renting as you end up paying more in the long run. You pay the taxes plus the interest.
Pros of buying a laptop
*No hassle of paper work or sharing of financial information which are a part of renting laptops. *You own your laptop so the feeling of ownership is there. * Tax and other benefits under section 179 of the IRS code. However, you have to shell out a hefty sum to acquire the laptops. The money saved otherwise could be used to grow your business and effectively used elsewhere. Another con of buying a laptop is that you are eventually stuck with obsolete technology as technology becomes outdated quickly.
Concluding remarks
As buddha rightly prescribed the middle path. Look for both the options. As a thumb rule, buying or renting totally depends on your business or project’s requirements. Renting should be done on a favorable term. You can look for a buyout option which means that the laptop is yours when the lease expires. You can later on upgrade to newer technology. The duration of renting laptops is also important. You need to know in advance that what are the terms and conditions when you want to end the rental agreement by prepaying early. Whether you rent or buy it is important to ensure that you get the best deal.
