Manage Your Technology Costs by Renting to Own Your Computer Equipment
Renting to own a computer is an option that an increasing number of North American households are choosing. The rent-to-own industry is a small but growing sector of the retail economy, with nearly $7 billion in revenue in 2007.
Renting to own computers or any other electronics appeals to householders who want to acquire new technology without taking on a large debt. Rent-to-own arrangements also appeal to businesses and entrepreneurs who may want to spread the costs of new equipment over time.
The Association of Progressive Rental Organizations (APRO) is a non-profit trade association for the rent-to-own industry that has commissioned many studies about renting to own. Their data speaks primarily to households, but the benefits of renting to own also apply to businesses. Companies that rent to own computers:
- Do not incur debt
- Are under no long-term obligation to buy and can typically cancel at any time, within the parameters of their rental agreement
- Can take advantage of flexible payment options, usually weekly, bi-weekly and monthly
- Can access brand new technology on payment terms they can manage
- Receive full service and support for the computer while they are paying rent, typically even after manufacturers’ warranties have expired
- Receive full delivery and disposition services
Among all of the pluses of rent-to-own computers, businesses will likely find the greatest benefit is their ability to obtain new technology without paying high upfront costs.
Imagine being a small startup that needs 4 or 5 laptops, a server and a color laser printer. The cost to purchase all of that equipment would run into the thousands, either on a line of credit or company credit card. The cost of renting to own this computer equipment results in much lower monthly payments than those charged by typical credit card lenders. What’s more, the monthly rent-to-own payments include support and service – meaning no extra charges if something goes wrong.
One of the other great benefits of renting to a laptop is that you can return them at anytime. As APRO says, with renting to own, the emphasis is on renting, not owning. You can continue to pay until you own the equipment, or you can return equipment after a few months.
Why does this benefit business? Because companies can continually upgrade their products without having to make full purchases. Maybe a salesperson needs the latest and greatest laptop to take on the road. By renting to own a computer, the salesperson can always stay on top of the latest technology without incurring large debts.
Similarly, an office that rents to own a computer or notebook can keep performance levels high by acquiring new machines when they need them without breaking their budget.
And, unlike purchase arrangements, disposal of equipment is taken care of when you rent to own a computer. The vendor will remove the old equipment and dispose of it responsibly, make it available on the secondary market, or continue renting it.
Renting to own a pc computer is a great way for businesses to obtain new office equipment with manageable costs, tremendous flexibility, and full service and support.
