How to lease a computer
For many companies, computer leasing is an
important strategy. By leasing computers, you can
conserve capital and reduce startup costs. Unlike
outright computer purchases, computer leasing requires
only a small initial outlay of funds. Payments are
then made on a monthly basis, over a pre-specified
term.
Of course, there are both pros and cons to computer
leasing. A good bit of the criteria is determined by
the type and cost of the computers in question. While
you might not want to bother with leasing inexpensive
low-end computers (that could just as easily be
purchased outright), it's at the high-end where
leasing can make the most sense.
If you need to keep your computers up-to-date and
on the cutting edge--packed with the fastest
processors and hard drives, and crammed with lots of
RAM, along with the latest and greatest video
cards--computer leasing can be quite attractive. With
a two-year lease, you can stay on top of the
technology curve. After the lease term is up, you can
simply ship the old box back and pick up a new one.
Overall cost is perhaps the biggest downside to
computer leasing. From a bottom line perspective,
you'll often spend more on lease payments then you
will on outright purchase. Of course, not everyone has
all the cash lying around to plunk down on new
computers. Hence, that new computer purchase often
winds up on a credit card--where the finance costs can
rival that of leasing.
A good many computer leases allow you to purchase
the computer at the end of the term for a
pre-determined fee. There are different types of
leases, with different buy-out structures and tax
implications. If you're considering leasing with the
possibility of buying the computer at the end of the
term, be sure to check with your accountant to fully
understand the implications.
You'll
also do well to check the insurance requirements. Some
leasing companies will require you to maintain
insurance on a leased computer, while others may not.
(My first computer lease did not stipulate that I
needed to cover the computer, while the following
lease did.) Computer insurance can add a significant
amount to your monthly lease payment. Be sure to check
this before you sign on the proverbial dotted line.
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