Top Reasons To Buy Office Furniture Rather Than Lease
Office furniture can be quite an expense and it can make a difference as to whether you purchase your office furniture or lease it. Leasing may seem like an attractive and seemingly less expensive alternative to buying but there are many reasons why you should consider purchasing office furniture as opposed to leasing it.
Long Term Savings
In the long run purchasing office furniture can save you money. Your initial costs on leasing furniture may seem to be less but long after the new furniture is paid for you are still paying every month to lease that rented furniture. Leasing office furniture just adds one ongoing expense.
No Previous Wear & Tear
With new furniture you are getting newly built equipment, whereas leased furniture has been used prior to it arriving to your site. With leased furniture you could spend months finding wear and tear on the furniture which may even prevent it from working correctly, whereas new furniture comes with a virtually no defects.
No Additional Contracts to Fulfil
If you purchase furniture and your business needs to liquidate assets due to a closing you can sell the office furniture and recover some of what you paid for it. If you signed a lease you may owe for the term of that lease whether your company is in business or not.
No Damage Fees
When you lease office furniture you need to be very careful not to damage the furniture- if you do you may need to not only for damages but also continue to pay on the lease. When you own the office furniture, wear and tear along with damage is all part of using the furniture and you can choose to repair or replace office furniture at your discretion.
When you own your office furniture you can derive value from it in a couple of ways. Your office furniture allows your employees to be productive and generate revenue which allows a return on investment to be realized for the life of the furniture. When you feel you have received your return on investment you can then sell the furniture for additional profit. Leased furniture will never reach the point where there is a complete return on investment and you cannot sell it for additional revenue at any point in time.