Is it Better to Buy or Lease Washer and Dryer Equipment?
For business owners who want to buy laundromat equipment like Continental Girbau Washer and Dryer to operate their laundry business, there’s a lot to consider. Other than looking at the overall costs of leasing or buying a piece of laundry equipment, you should also consider maintenance, flexibility, tax deductions, and more.
Also, as you start looking at the type of equipment depending on your business needs, you must consider the positives and disadvantages of leasing over buying. In some instances, you might have the cost-benefit of one option strongly outweighing the other.
Still, it’s worth noting that leasing laundry equipment can also save you lots of your start-up money and offers longer and longer warranties as opposed to pieces of laundromat equipment you’d purchase outright. Here are some benefits that leasing offers you.
The Benefits of Leasing Commercial Laundry Equipment
Quality and choice of Machine: Leasing rather than buying equipment like Continental Girbau usually means you’d be getting a wider choice plus better quality of laundry equipment.
Right to own: If you decide to lease you’ll have the opportunity to own a commercial laundry machine by the time the term lapses once you make one final payment. Again renting means you’re borrowing the specific equipment for a set period.
Payment predictability: Leasing means you’ll be able to predict when to make payments, while rental installments keep increasing each year.
Commitment Length: You’ll have a rental agreement that you can choose to renew before it expires. Be sure to confirm the commitment period of your lease as it varies for each equipment provider.
Flexibility: Leases offer you more possibility for tailoring compared to rental agreements, thus it enables you to blend in numerous ways. Also, try to choose a package that works for you, and that night means negotiating for a bespoke arrangement to your needs.
Maintenance: With leasing, you will not be paying for maintenance. That means if an issue arises or something breaks from the regular wear and tear, maintenance is undertaken by the leasing company so they’ll fix the equipment.
Stay Competitive: Choosing to lease your equipment makes it possible for you to quick access to the latest technology and equipment and at affordable prices. Also, your business can avoid having outdated equipment since you can easily get upgrades using newer equipment over equipment that you’ve bought.
Should You Buy or Rent These Appliances?
As you decide on whether to lease or buy washer and dryer equipment, try to establish the approximate net cost. Buying or leasing washers and dryers or other appliances is an option for you, if that’s something you’re debating with yourself about, it’s important that you figure out how you’ll afford the equipment and ways in which you can recover your investment.
Also, if you don’t have the funds to purchase a big number of laundromat washers and dryers, it may be time you considered renting them.
Once you’ve determined the more cost-effective option, look at other intangibles like the possibility of the appliance becoming obsolete (if you choose to purchase) or whether the need for the equipment will expire before your lease does (should you decide to lease).