Business phone technology is always developing new and upgraded systems. While this rapid change is bringing businesses greater flexibility in how they manage their operations, it is also rendering phone systems obsolete quicker than in past years. Companies have found ways to accommodate this shorter turnover rate by leasing their business phone system, which many are finding to be a cost-efficient alternative to purchasing new equipment.
- Conserves Capital and Preserves Bank Credit Lines
Leasing a business phone system conserves valuable company working capital and preserves your bank credit lines. A few weeks or months down the road, these businesses may wish that they had not used their credit line on a phone system when they need the funds for other projects. Business phone system leasing essentially eliminates this problem, and your capitol and credit lines are free when you need them.
- Allows for Easy Upgrades and Add-Ons
Leasing typically protects you from being locked into owning equipment that may not meet your future needs, and in most cases, the leasing business phone company will allow you to add upgraded equipment to your existing lease. Leasing is often the best financing solution for businesses that hesitate to buy equipment that they fear will become outdated before they can fully depreciate it.
- Tax benefits
Buying business phones will allow for a one time write-off when it’s time to file taxes. Alternatively, leasing your business phone system will allow businesses to receive the same tax benefits multiple times because each of your monthly lease payments are deemed a business expense and can continue to be written off each year.
- Enjoy options
When you purchase a phone system for your company, you’re locked into your decision. The only option when your business phone system becomes obsolete is to sell it for a fraction of the initial cost and purchase a brand new system. However, with leasing you are given options when your leasing term expires. If you feel like your current business phone system will continue to serve you well for the next several years, you can choose to buy it. If you’d like to wait before switching out the system, you can choose to extend the lease. Or, if you’d like to test out the newest technologies, you can pick a new system to lease.
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