What is an equipment lease versus buy calculator?
An equipment lease vs buy calculator is a handy little tool that helps you make the crucial decision of whether to lease or buy equipment for your business. Most of these calculators will show you the total cost you’ll end up incurring when you lease and when you buy equipment. There are usually only four variables you need to enter – the purchase price for the equipment, your down payment, your state sales tax rate, and the interest rate of the lease. Enter those, and you’ll know which is the most affordable option for you, leasing or buying.
Where can I find a free equipment lease vs buy calculator?
Here are a few useful online lease vs buy calculators you can use for free:
Why should I use a lease vs buy calculator?
You should use a lease versus buy calculator because there can be a substantial difference in cost between leasing versus buying equipment for your business. If you’re a startup and cash-strapped, leasing might be the best option. Leasing will definitely save you money up front, but at the end of the day you may pay more for that equipment than you would have had you just ponied up the cash to buy it. It may make sense to lease when you’re talking about computers and copiers, because these depreciate so quickly, and you won’t have to worry about the upkeep and disposal costs. For other equipment, though, it might make more sense to just purchase the items outright, or get a loan to do so. There can be significant tax incentives to purchasing equipment. And, you own something. If you lease it, you’re just renting it. Using a reliable lease versus buy calculator can be a quick way to arrive at this decision. After all, most business decisions simply come down to a cost/benefit analysis.
When you signed up, we sent you an email with a secure website. You can sign in from your secure site. It looks like this:
An email has been sent to with your Secure Site.