Advantages of Leasing a Computer
Buying a computer for your home or business is an investment that depreciates as the computer becomes older. Even the additional hardware and software loses value over time. And, eventually, when your old computer becomes obsolete, you will have to purchase a new one. But there is an alternative to buying a new computer. Leasing a computer has a number of advantages and doesn't require you to pay for the piece of equipment immediately.
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Payment Options
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Instead of paying for your computer in full, a lease lets you pay a security deposit, and in rare cases a down payment, and start paying for your computer on a monthly basis until the lease contract is complete. Lease contract periods vary—24 months, 48 months and even shorter lease contracts. This makes financing a new computer possible, especially if you don't have the money to purchase the computer immediately.
Equipment Add-ons
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Leasing a computer also lets you add on hardware you might not be able to afford if you were buying the computer. You can select additional hardware, including printers, scanners, memory upgrade packages and even a case for your computer, if it is a laptop model. And certain lease companies also let you select software for your computer system, including productivity suites and other applications.
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Trading In
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Once the lease agreement is complete, you have the option to trade in the computer for a new one, allowing you to keep up with new technology. If you want to keep your current system but need additional memory or other hardware components, some leasing companies offer yearly computer memory and related hardware upgrades.
Return Option
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If you decide you no longer need or want the computer, for whatever reason, you can turn in the computer at the end of the lease period, or you can turn it in early and end your lease agreement without the hassle of having to sell the computer or dispose of it through other means. Returning the computer before the lease contract period is over, however, can result in lease termination fees and charges.
Option To Buy
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In certain leasing agreements, you also have the option to buy the computer once the lease agreement is complete. Purchase terms are spelled out in the contract. You may be able to purchase the computer at a buyout price or at current market value.
Tax Benefits
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If you are leasing the computer for your business or home-based business, you can also write off the lease on your yearly taxes.
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References
Resources
- Photo Credit lease image by Renato Francia from Fotolia.com
