Confused whether renting IT Hardware or buying: The pros and cons of each

When you decide it’s time to get new hardware for your business, you have a choice between buying and renting. Both renting and buying have their own sets of financial advantages, renting does appear to have an edge when the economy is poor and If you buy hardware, you can get exactly what you want. There are tremendous financial benefits to renting as opposed to buying IT Hardware.

But the question remains: to buy or to rent? While there’s no right or wrong answer, to arm you with the information you need to make the best decision we’ve laid out the benefits and risks of both options.

Business need:

Technology is changing with the blink of an eye and this means the expensive laptop or desktop that you bought today may get obsolete the next day. When you are getting Hardware on hire, you can ask for the best and latest version of any software; which is quite impossible when you have your own computer. As to keep track of the latest software upgrades is always not possible and it is best to get the same from the geeks who are continuously dealing with the same by renting computers to different kinds of users.

No Maintenance Costs or Repair Bills:

Definite advantages renters have over Laptop Rentals and Tablet Rental are that they have no maintenance costs or repair bills to pay off. When you rent a property, you are not responsible for all maintenance and repair costs. If a laptop or tablet stop working during exhibition, you do not have any financial responsibility to have these things fixed. IT Rentals, on the other hand, are responsible for all of their own repair and maintenance costs. Depending on what the repair is, these costs can be quite extensive.

Meet deadlines:

Buying a new computer is not only cost intensive but also a time-consuming affair. Hence if you suddenly have new orders to meet or your existing computer breaks down when you need it the most, the computers on rent in Mumbai act as your savior. These computers are inspected before delivery and hence you get super quality and high performance from these devices for both personal and office work.

Pocket Friendly:

Getting hardware on rent  is cheaper than buying these expensive devices. Moreover, if you need hardware for a short time or for temporary purpose, it is more feasible to get one on rent rather than invest money in buying a computer. Hence if you want to preserve money for other purposes or do not want to put much pressure on your pockets, go for rented computers.

Help and support:

Last but not the least; when you get hardware on rent, assistance from expert and friendly engineers is just a call away. They help you solve any type of hardware or software related issue and hence you need not run here and there to fix your computer.

Pros and cons of buying computer hardware

Advantages of buying hardware:

• For small businesses, being able to deduct a percentage of the value of their IT investments from their taxable income. This includes hardware, software and mobile phones. Read more about capital allowances.
• Not being tied into medium or long-term agreements which may be difficult to end if your needs or circumstances change.

Disadvantages of buying hardware:

• Pay the full cost up front. This may cause cash flow pressures as you can’t easily spread the cost to coincide with money coming into the business.
• Replace equipment regularly. Computer equipment depreciates quite quickly and may be obsolete after a few years, requiring a further investment.
• See how to choose and manage your IT supplier.

Pros and cons of renting computer hardware

Advantages of renting hardware:

• Financial flexibility – you can spread the cost of your equipment over a period of time so its impact on your cash flow is less severe.
• The possibility of a periodic upgrade or replacement with new equipment as part of the package, keeping your office technology up to date.

Disadvantages of renting hardware:

• There can also be more administration involved.
• When renting, your business doesn’t actually own the equipment. It remains the property of the supplier.

Whether you want to buy hardware or rent it, the choice is yours. At the end of the day, go with the option that best suits your business – and wallet!