7 types of equipment more profitable to rent than to buy
Renting is becoming the norm for a wide range of items. It can be more economical than buying, both in the short term and beyond. By renting your goods and equipment, you avoid maintenance issues and can make use of the latest technology at a lower cost. The range of items that are smarter to rent is wide to say the least. And some items may even surprise you.
LED lighting systems
It might not be obvious, but it is possible to lease LED lighting systems (complete with control tools) for your business premises. This way, the cost of this otherwise expensive item can be kept down. It can also be part of an environmentally-friendly approach, as indoor and outdoor LED light fittings are among the most energy efficient.
Telecom equipment (telephone switchboards, landline phones, fleet of mobile phones, etc.) tends to become obsolete pretty quickly and may be affected by regulatory changes. Which is why leasing such equipment is particularly beneficial as they require frequent replacement. For example, a large number of European countries have begun to shut down the “Switched Telephone Network” (STN), the technology historically used to provide fixed-line telephone services.
Renting security systems for your company offers a number of advantages. You avoid paying maintenance costs as you always have up-to-date equipment, which often also come with the latest technological developments built in. In addition, each time the rental agreement is up for renewal, you have the opportunity to rethink your entire security system (replacing security gates in favour of CCTV systems, for example).
Printers and coffee machines
Should you buy or rent your coffee machines and printers? Nearly all companies ask themselves this question. Rental for such equipment often comes with practical services like maintenance and refill.
Even when used only for simple tasks, company computers need to be renewed frequently as this type of equipment quickly becomes obsolete. Renting therefore proves to be the most economical solution.
Renting software allows companies to optimise their cash flow by spreading out the costs over several years. Moreover, by renting computer programs, companies can have them installed, hosted and managed (updates, maintenance, etc.) by the service provider. This is particularly useful if your company doesn’t have its own IT staff.
And not only the chair: most of the medical equipment in a dental practice can be rented. This is also the case for other medical sectors such as ophthalmology or imaging (ultrasound machines, scanners, etc.). The same goes for other branches of medicine such as ophthalmology and medical imagery (ultrasound and other scanners, etc.) The financial aspect aside, the big advantage of renting medical equipment is that you can be sure of having regularly upgraded equipment that’s in line with changing regulations. With the objective to promote the leasing of medical equipment, and its accessibility, BNP Paribas Leasing Solutions acquired CMV Mediforce in January 2018, a specialist in financing solutions for healthcare professionals.