To Lease or Finance New Office Furniture?
To many, this quagmire won't mean much. But there are plenty of companies out there right now who are pondering this very thing. Should we be leasing furniture or financing it? While the answer may seem quite simple, nothing could be further from the truth. Office furniture can be the bane of your existence or it can be the most aesthetically pleasing part of your company. Regardless, two facts remain: Offices must be furnished. Office furniture is going to cost money. How you spend that money is up to you.
Financing to Own
Tons of businesses own their own furniture. No, that doesn't sound crazy, and yes, it's completely normal. But with financing comes certain caveats. Caveats like down payment, delivery fees, taxes, and the hidden cost - interest. Yes, you get the luxury of owning your office furniture, and while it's new, it seems great. But what happens when it gets old? You have to buy new furniture. Of course, you could always go with pre-owned. But let's say pre-owned isn't an option. What recourse do you have? Financing has its merits, for sure. You can own the furniture with low monthly payments, choose exactly what you want, and make it yours.
Leasing Office Furniture
This concept may seem abnormal to you, but the truth is, the options are nearly unlimited when you lease your office furniture. Think about it this way, your office will need new furniture once your current supply gets outdated, worn out, and obsolete. Then you'll have to buy new. So in leasing versus financing either way you're likely to have monthly payments. But when you lease office furniture you can always keep your style current and in style. Lease term up? Get new furniture, keep your same payments. Financed office furniture paid off? Use that dusty stuff, buy new furniture, or get a lease!