Why Get Financing for IT Equipment?

Are you a startup needing to grow your IT infrastructure? Are you a medium-sized business looking to expand your infrastructure without adding to your bottom line?

Most business owners know it, but IT equipment is a depreciating asset. Even with the tax benefits, it’s still an asset which will cost you money over time. A smarter approach to ensuring that you have the right IT infrastructure in place is to get financing for it.

Consider Your Options

With any asset, you have the option to either lease it or buy it. If you choose to lease your IT equipment, you are renting it from another company. The biggest benefit to leasing is that you’re renting an item which will eventually become obsolete. This means that you’re able to continually upgrade your equipment as technology improves. Those whom purchase their IT equipment are forced to hold on to the same equipment for years on end, even as that technology wears out over time. An IT equipment leasing company can allow you to lease your IT infrastructure to ensure you have the best equipment possible.

Additionally, you’ll also get more support when you choose to lease your IT equipment. IT equipment leasing companies will answer your questions and ensure that your equipment is in good working order since you are paying for the service on a monthly basis.

The downside of leasing IT equipment is that you won’t own the equipment. However, the value of IT equipment depreciates over time. Eventually, many companies choose to throw away older IT equipment as the value of the equipment decreases to the point where the owners and managers of the company decide that the equipment is worthless.

Benefits vs. Drawbacks of Purchasing

Purchasing IT equipment allows you to physically take possession of your equipment. It’s yours to do as you wish with it. You’re free to change hardware or software. This also means that you’re required to provide your own support and maintenance. You’re also required to replace your equipment on a continual basis as software upgrades make this equipment go out of date.

If you would prefer to purchase the equipment, you also have the option to purchase the IT equipment on credit. You’ll pay on the equipment monthly until the final balance is paid off.

If you are struggling with your IT infrastructure, you need to upgrade right away. Financing IT equipment allows you to acquire the IT equipment that you need now. Imagine what having the right IT equipment could do for your business’s growth.