Should I Buy or Lease Phone Equipment?

Whether your business is set up in a brick-and-mortar office or run remotely, communication lines help run your business and keep employees in touch reaching out to suppliers and customers.

Many businesses have already gotten the message that voice-over-internet-protocol (VoIP) technology offers advantages over traditional landline phones. Consider stats suggesting that VoIP saves companies 40% a month, slashes start-up costs by up to 90%, and cuts 50% of telecom expenses.

You might wonder whether you should buy a phone solution for your business outright or rent it. While there really is no right or wrong answer to the question (since it will boil down to your company’s best interests), you still need to consider key information to make an informed decision.

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Everything You Need to Know About Internet Voice Equipment Rentals

If you go with a rental agreement, the start-up expenses will be lower than if you buy your voice equipment outright. Do you want to get a new VoIP phone system but wish to keep costs as reasonable as possible? A rental or lease agreement will afford you a reasonable monthly rate that you’ll find easier to fit into your budget than if you choose to buy.

The other option is, of course, to buy your voice equipment outright. If you prefer to own your business assets and don’t want to rent or lease anything, you’ll want to find the best possible purchase price. It can be nice if you have the financial flexibility to buy rather than rent.

Consider the Hidden Costs of VOIP Phone System Hardware

When you enter a rental agreement with a reputable service provider, the voice equipment will be guaranteed for life. So, if any of the voice equipment malfunctions, you’ll be able to get it repaired or replaced at no extra cost.

If you prefer not to rent your business equipment, you can go the other route. Of course, that means a substantial upfront cost. It also means you’ll be on the hook for repair or replacement after the manufacturer’s warranty has come to an end. Are you okay with having to foot the bill after the typical one-year grace period is over? If so, buying, rather than renting, might be the right course of action for your business.

Make a seamless switch to VoIP with Superior Office Solutions as your guide.

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What Happens When It’s Time to Upgrade? Should I Buy or Lease Our Phones?

After a rental agreement is over, you’ll have the option of swapping your old voice equipment for new, upgraded voice equipment. Remember that there’s always a better model waiting in the wings. If you like having access to the latest technology, renting is a good option. It means that you can move onto the latest and greatest technology in short order.

Meanwhile, if you’re a business owner who wants to buy rather than rent voice equipment, you’ll have to pay out of pocket if you want to upgrade. Are you the sort of person who wants the newest model of any equipment you need? If so, it can get expensive pretty quickly. But if you invest money into buying a quality voice equipment package, you probably won’t want to upgrade too soon. That will fritter away any ROI you’ve obtained. You’ll want to get as many benefits as possible from your voice equipment.

Buying can be advantageous if you hold onto your voice equipment for long enough to give you a positive return on investment. After squeezing as much benefit as you can from your investment, you might choose to upgrade down the road.

What Do You Get Upfront By Renting vs. Buying Voice Equipment?

If you rent voice equipment, you’ll get the business assets you need without making a huge upfront financial commitment. You don’t want to face a situation where you have to take a pass on necessary equipment due to expenses. So, being able to rent or lease can be a godsend. If you’re renting or leasing, one of the things you need to remember is that problems can arise if you are unable to meet your monthly payment plan. The last thing you want is to have the leading company repossess the voice equipment.

Some service providers will offer you preferred pricing and even give you free phone systems as long as you purchase the system and enter a multi-year service agreement. While you’ll have to make an upfront investment, you’ll get value and save money. Consider, however, that the free phone system you receive under such an agreement will seldom be top of the line. If you want a phone system that has all the features and options you want, you’ll probably have to upgrade to a paid phone system.

When Deciding to Buy or Lease a Phone, Consider the Element of Control

When you rent or lease, you won’t really own the office equipment. So, if you want complete control over how, when, and where you use the voice equipment, you might be disappointed if you rent or lease. You’ll be subject to specific terms and conditions of the agreement for as long as it lasts. The agreement will lay out stipulations you have to abide with in order to avoid issues.

One of the benefits of buying your voice equipment is that you can then use it how, when, and where you want. Why? Because it’s yours. It can also work in your favor to buy outright if you prefer having your internal IT department provide service rather than a service provider you’re not as familiar with. You might sleep better at night having full control of your office equipment.

SOS: New York’s Trusted Business VOIP Company

At Superior Office Solutions, we have what you need. Get in touch and learn about our VoIP business phone systems. Through a hosted PBX (private branch exchange), you can route calls to a central location, transfer them to employees, collect voicemail messages, and connect different users to a conference call.

Whether you want to rent or buy voice equipment for your company, we have options. Get in touch, and we’ll help you make the right choice for your business. Feel free to check out our customer testimonials so you can see for yourself that we aren’t just talk.