What to consider before financing your tech
Whether you’re in the early stages of your startup or in need of new devices to facilitate an expansion, there are many considerations to be made in how you’ll pay for your equipment. One option that can allow you to get the equipment you need even if you don’t have the money to pay for it all at once is financing technology and paying it off over time. Of course, this option has many attractive aspects to it: Free up capital for other current expenses Provides opportunities to grow quickly and try new technologies Tax benefits of offsetting earnings by paying qualified expenses over time Whatever your reason for wanting to finance your tech purchases, you need to understand what you’re getting into before signing on the dotted line. One general rule of thumb: Financing should always be considered somewhat of a last resort. If...
Members only content

Want to continue reading?

Create an account for free or sign in to gain access to exclusive site features, deals, and more!

Comments

  • I have a hard time with DaaS because I love the idea of ownership.  But I have found that tech tends to need replacement within 5 to 7 years, so it may be the type of service that ends up being much more cost efficient in the long run.

  • DaaS sounds amazing!

  • What sort of financing does Lenovo offer for very small businesses and teams? I'm not in the business of buying new tech every year, as most of it will last 3-5 years minimum and my needs don't change that frequently. However, things like new computers and monitors are investments when the time comes to upgrade/renew them and knowing my options goes a long way to making a good decision!