More and more business IT infrastructure is being sent to the cloud, with hardware such as individual servers becoming essentially obsolete for most companies. However, your business may still need to invest in some IT hardware, and you’ll then face a choice: buy or lease?
Buying does come with a few benefits, but most businesses will find the advantages that come with leasing far more attractive.
Probably the most common reason for leasing instead of buying is saving money. IT hardware tends to command a high price, and you’ll usually have to pay it all at once. With leasing, the price you pay only covers the amount your hardware depreciates in value when it’s in your service, the cost will be spread out over monthly instalments, and you’re unlikely to face any upfront deposit. Whether you’re just getting started or fully established, it can be hard to justify such a large and avoidable outlay.
The world of IT hardware isn’t one that stands still. In a year or two, the hardware you buy today is going to be outdated. When you buy your hardware, you’ll generally need to keep it for many years to justify the cost. When you lease, you’ll be able to upgrade every year or so, meaning that you’ll never be too far behind the curve. Remember, upgrades can improve productivity and help you keep pace with your competitors. Outdated hardware can suffer from compatibility issues, and it’s far more likely to suffer problems that result in downtime.
Of course, even the latest piece of hardware isn’t invulnerable. That said, you’ll still be better off leasing. The company you lease from will clearly have a strong vested interest in maintaining your hardware at peak performance. A good IT support company will perform regular maintenance, and your case will probably be prioritised if anything ever does go wrong.