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What are the pros and cons of leasing furniture, fixtures, and equipment for a small business?
Any advice will be appreciated, thanks!
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August 4, 2009 | Filed Under About-Contact-Privacy
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2 Responses to “What are the pros and cons of leasing furniture, fixtures, and equipment for a small business?”
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Questions|Answers
- Wildcat on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- Mr Placid on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- Common Sense on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- Designer Dogs are fancy mutts on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- chatsplas on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- Ranger4402 on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- pickmefirstplz on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- the kid on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- magicbird on Do you think apartment complexes should be sued for failure to provide services aside from maintenance?
- rpg on What kind of bankruptcy options?
- rhsaunders on Net present value?!?!?
- in the China Shop on I want to open a restaurant?
- Sam San on I want to open a restaurant?
- Henry on I want to open a restaurant?
- Metal M on What do you think about my business idea…could this work?
The pros are that the entire payment is tax deductible in the year that you pay it. Otherwise you have to amortize the expenditure over several years. Also if you are leasing you can turn them in for newer or more current equipment at the end of your lease rather than being stuck with outdated equipment. The cons are that you will probably pay a little more for the items than if you purchased them outright.
well stuff like expensive photocopiers and things like that, most people lease. You typically don’t want to buy a lot of things like that, because there is always a new model coming out that you might be able to upgrade to.
I can’t see any benefit to leasing furniture. The only time you would really do that is if you had to get a ton of stuff you just can’t afford to buy outright. Lease rates are more expensive than just getting a small loan and buying the stuff though.
Furniture isn’t going to get obsolete.
If you lease other stuff, like a vehicle..once again the leasing costs are higher than borrowing costs to own..and also leases for vehicles have stipulations as to mileage, the condition of the vehicle, etc…so if you are goign to lease a truck for heavy duty dirty hauling and so forth..BAD IDEA!!
stuff that will continually need to be repaired is better to lease than buy because you will typically have a certain amount of repairs built into the lease at no extra cost.
if you think that you want you own it..then dont lease to own..buy it outright with financing if necessary, but don’t pay years of lease payments, because these will do very little to reduce the cost of an item that you want to purchase.