Should You Lease or Buy Your Coffee Equipment?

When starting a business, it is important to decide early on if you plan to lease or buy your equipment. Each option offers its own benefits and drawbacks, but when you need the equipment these are your two options. So, what should you do when you are looking for commercial coffee equipment in Los Angeles?

Long Term Cost

This is the first thing to consider. What is each option going to cost you in the long run? When you buy a piece of equipment, you know up front what you are going to be paying for it and the price is not going to change over time. Sure, it may change if you need to buy a replacement, but the price you paid won’t change. With a lease, on the other hand, you will pay less up front, but could potentially end up paying more than you would to have bought the equipment outright. This is because you are going to be paying fees and interest on the equipment each month. However, if you are not planning on keeping the equipment for long or plan to upgrade every few years then a lease is the way to go.

Servicing

If you buy a piece of equipment, you are going to get a warranty, in most cases, but what happens once this is up? If anything goes wrong after the warranty period, you are responsible for the repairs and these can get costly. Of course, you always have the option of repairing it yourself, but this involves the additional expense of either buying the service manual and learning it yourself or hiring a maintenance technician who is qualified to work on your equipment. With a lease, on the other hand, you can usually negotiate a service contract for little or no extra to the price. If you go this route you never have to worry about repairs since it will be covered by your service agreement.

If you are searching for commercial coffee equipment in Los Angeles be sure to check out Workwell. You can learn more on their website at www.getworkwell.com.

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