Every good IT Manager or CTO knows that their team needs the best tools to do their job effectively. Their challenge? To equip his team with the latest technology, while ensuring cost-effectiveness. In this quest, he comes across two paths – to buy or to rent IT equipment. He understands that owning the equipment provides a sense of control, but it also means a hefty upfront cost and the risk of technological obsolescence. The other option, renting IT equipment, though alluring with its financial flexibility and access to the latest tech, is shrouded in myths and fears that have long been ingrained in his mind.
The thought of spending a substantial amount of money and yet not owning the equipment sends a shiver down his spine. He believes that leasing is a cocktail of hidden fees and charges, a path leading to outdated technology, and an invitation to dependence on the leasing provider. Despite hearing about the potential benefits of leasing, these fears form a formidable wall, blocking his view and keeping him from exploring this path further.
This article aims to challenge these myths. We will attempt to understand these fears, weigh them against the facts. Our goal is to provide clarity and to bring you closer to an informed decision.
Myth 1: Renting IT equipment is more expensive than buying.
Fact: Leasing offers financial flexibility and can be more cost-effective in the long run by freeing up capital, allowing for regular technology upgrades, and providing potential tax benefits.
As a person responsible for deciding whether to lease or buy your IT equipment, you may have a belief that leasing IT equipment ends up being pricier than buying. Now, I understand why you might think that way. You have a budget to manage, and buying seems like a one-and-done deal. But let’s give it another thought.
Buying all the equipment together takes a big chunk from your budget, money that can be used for growing your business. Leasing can spread out that cost, and keep the cash flowing. It’s like turning a steep staircase into a gentle slope.
In short, you don’t have to slow down the growth of your company because a big part of your budget gets exhausted while buying IT equipment. You can opt for laptops on rent for businesses and use capital to grow your business.
Myth 2: You can’t lease the latest technology.
Fact: Leasing providers often offer the most up-to-date equipment, enabling businesses to stay current with the latest technology without making large upfront investments.
As CTO or IT head, you know the importance of keeping up with the latest trends and tech, and you also know that these come with a heavy price tag.
So, let’s throw a hypothetical into the mix. Let’s say your client comes up with a newer version of their CRM and it requires you to move from i5 to i7 processor-based systems. You only recently bought i5 laptops of the latest generation because when it comes IT equipment, buying for the future is always a costly proposition. Suddenly, the new and shiny laptops have either become obsolete or have significantly slowed down your employees, hampering their productivity. It’s not good for the moral of the employees either.
On other hand one could have bought i7s to start with but that would have increased the overall budget by at least 20%. Not an ideal scenario either.
In essence, it’s about getting the most mileage out of every rupee spent. And sometimes, hassle free IT rentals might just be the smarter route to that destination.
By the way if you want to read more about renting laptops, you can read here.
Myth 3: Renting IT equipment means you don’t own the assets.
Fact: Leasing arrangements can include options to buy the equipment at the end of the lease term or upgrade to newer models, giving businesses control over their IT assets.
Do you realize most of the big companies in US including IT giants like IBM lease their equipment? It is because they understand It’s not about owning the equipment but about the value it brings to their organization. It is no surprise USA leasing and financing of it equipment has become a one trillion dollar economy.
But that does not mean if you have found a perfect equipment whether it’s a laptop or a server, you can’t own it. You are always welcome to discuss with us whether Long-term laptop rental deals are better for you or its better to go for rent to own equipment options.
Myth 4: Leasing is only suitable for large enterprises.
Fact: Leasing can benefit businesses of all sizes, from start-ups and SMEs to large corporations, by providing scalable and flexible IT solutions that match their unique needs and budget constraints.
Consider a scenario where a CTO is managing a start-up or an SME. He might think leasing is a game only for big players. But, in truth, leasing is like a bespoke tailor, crafting solutions to fit businesses of all sizes, budgets, and needs. he can lease equipment that suits his company’s current needs and scale up as the company grows. It’s like renting a small office when starting out and moving to a larger one as the team grows. At Rentry, you can opt for budget laptop rental, mid-range laptop rental as well as high end laptop rental based on your business needs.
Myth 5: Leasing IT equipment is inflexible and restricts customization.
Fact: Leasing arrangements can be tailored to suit a business’s specific requirements, including custom configurations, add-ons, and flexible contract terms.
Quite the opposite. Let us say you have bought a desktop and you realize one of the App you are running on it requires a bigger display that the one you have purchased. Or you need GPU that performs faster than your current configuration. Once the purchase has been made, you are not left with many options.
Rentry provides you with flexible renting options, all you need to do is give us a call and we will happily send you the configuration you need.
Myth 6: Leasing IT equipment results in hidden fees and charges.
Fact: A transparent leasing agreement should clearly outline all costs, including any fees for maintenance, repairs, or early termination. Carefully review the contract terms to avoid surprises.
It is normal to be vary of hidden costs. However, Rentry prides itself in having most transparent way of providing lease. And everything is clearly mentioned on contract. It outlines all costs upfront, including any fees for maintenance, repairs, or early termination. You can be sure that there will be no ugly surprises coming your way if you decide to work with us. In fact, if you are new to IT equipment rental, you may want to read on of our articles on laptop rental that explains the process of rental along with its benefits.
Myth 7: Renting IT equipment makes it difficult to manage software licenses and compliance.
Fact: Leasing providers can help businesses manage software licenses and maintain compliance with industry regulations, providing a more streamlined and hassle-free approach to software management.
As wholesome service provider for IT companies, we not only provide IT equipment but also software and applications that you need to run your business. E.g. our clients in Digital Advertisement industry lease licenses for Adobe and Microsoft products and have repeatedly mentioned how it has saved them lot of cost over the years. We are among very few IT equipment vendors who can claim to provide wholistic IT equipment service including software rental services.
Myth 8: Renting IT equipment creates a dependence on the leasing provider.
Fact: While renting IT equipment involves working closely with a leasing provider, this relationship can actually benefit businesses by offering access to expert advice, customized solutions, and ongoing support throughout the lease term.
Again, totally the opposite. Once we have delivered the equipment to you, there is no intervention from our end on how you are using that equipment. If anything, consider Rentry as a partner on whom you can count for expert advice, customized solutions, and ongoing support. It’s like having a trusted advisor on your team, helping you make the best decisions for your business.
In essence, these myths about IT equipment rentals, they’re just signposts at the crossroads of decision-making. If misunderstood, they can lead to unnecessary spendings. Leasing, like any tool, is as good as how we wield it. For people who have to decide on purchasing IT equipment, it’s about smart choices, about squeezing value out of every rupee, about riding the wave of innovation, without sinking the ship. It’s about flexibility, sustainability, and partnership. Let’s not let the myths veil the possibilities. After all, isn’t the future about making informed, strategic choices and not merely following the worn paths?