Need a new laptop, but don’t have the cash on hand? Laptop leasing might be the option for you – so long as you understand the costs.

Like most big ticket items, the purchase of a new laptop computer requires a substantial outlay of cash – cash that some people don’t have on hand or don’t want to spend. One option is to purchase with credit, but the high interest rates typically associated with credit card accounts seldom makes the option advantageous. The other method, laptop computer leasing, allows the lessee to make a fixed payment over a set period of time while avoiding the large expenditure of cash required to make an outright purchase.

Before setting out to lease a laptop, however, there are some things to consider:

First, the final cost of a lease will almost always end up being higher than the price of an outright purchase. When deciding whether or not laptop leasing is for you, it can be helpful to consider the advantages and disadvantages of making fixed monthly payments, and to compare them to the advantages or disadvantages of a lump sum payment. In some situations, such as when using a laptop to generate income, a fixed payment can be worked into a monthly budget. In other cases, such as when purchasing a laptop for entertainment, or for school, the cost savings of a direct purchase can outweigh the benefits of laptop leasing.

The length of the lease can also affect whether or not a particular lease is your best option. If the term of the lease is too long, a lessee may find that they aren’t able to get a needed upgrade because the terms of their lease have not yet expired. It’s important to consider your needs when weighing payment amounts and lease periods. Some leases are timed to match a laptop manufacturer’s refresh period, which means that the lease ends just as updated laptops are released, while some leases offer lower monthly payments in exchange for a longer term lease.

Another factor to consider when deciding if laptop leasing is right for you is the repair policies of the lease agreement. While nearly all laptop’s now come with warrantees and protection plans, there are major differences in the way these plans protect you, depending on if you’ve purchased your laptop or leased it. Laptop owners who have purchased their laptops outright have more options when considering how and where to have their laptop repaired. Laptop lessees, on the other hand, are often subject to the terms of their lease agreement when making repairs. This can be a problem when traveling, for instance, as international travelers may not have access to authorized repair facilities while abroad.

The final subject to consider when thinking about a laptop purchase is the limited control of ownership that accompanies laptop leasing. Imagine that, after buying a new laptop, you received another laptop from an employer or as a gift. The purchaser of a laptop would be able to decide which laptop to keep, and would have the option to sell or give away the laptop they had purchased. However, a laptop lessee would be bound by the conditions of their lease agreement – potentially leaving them with a computer they did not want, but were contractually obligated to keep making payments on.

While laptop leasing may not be for everyone, there are situations in which it is the best option. If you need the latest in laptop technology, leasing can be a good protection against obsolescence – just be aware that each benefit of laptop leasing also comes with costs.

This post is tagged with: laptop leasing, lease a laptop, leasing laptops