Leasing Apple products such as the MacBook, iPhone, iPad, iMac and Mac Mini can provide businesses with a cost-effective way to access the latest technology and support services. As a company that values innovation, quality, and exceptional customer support, Apple has become a leader in the technology industry. However, purchasing Apple products outright can be costly and may not always be feasible for businesses that need to maintain a healthy cash flow. That’s where leasing from Infinite Loop comes in – by spreading the cost of leasing over time, businesses can acquire the technology they need without compromising their financial stability. In this comprehensive guide, we’ll explore the benefits and drawbacks of leasing Apple devices, how to choose a leasing company, and how to make the most of your leasing experience. Whether you’re a small business owner or a large enterprise, understanding the ins and outs of leasing Apple devices can help you make informed decisions that support your business goals and values.
Part I: Benefits of Leasing Apple Devices
The advantages of leasing Apple devices from Infinite Loop are numerous, including:
Leasing Apple devices can help businesses save money in the short and long term. With a lease, businesses do not have to make a large upfront payment for their IT equipment, allowing them to use their capital in other areas of the business. The monthly payments are also predictable, making budgeting easier. Additionally, businesses can deduct lease payments as a business expense, reducing their taxable income.
Access to the Latest Technology
Leasing Apple devices allows businesses to stay up-to-date with the latest technology without the need to purchase new equipment every few years. This is particularly important for businesses that require the latest software and hardware to stay competitive.
Leasing provides businesses with the ability to upgrade their equipment easily at the end of the lease period. This means that businesses can easily swap out their devices for newer models without having to sell or dispose of their old equipment.
Reduced Maintenance Costs
Leasing Apple devices can also help businesses reduce their maintenance costs. With a lease, Infinite Loop is responsible for repairs and maintenance, reducing the burden on your business.
Part II: Types of Leasing Arrangements for Apple Devices
There are two main types of leasing arrangements for Apple devices: operating leases and finance leases.
Operating leases are typically shorter-term leases (12-36 months) that allow businesses to use the equipment for a set period of time, after which the equipment is returned to the leasing company. Operating leases are beneficial for businesses that require the latest technology but do not want to make a long-term commitment to a specific piece of equipment. With an operating lease, businesses can easily upgrade their equipment at the end of the lease period or just hand it back. We just call this leasing.
Finance leases are longer-term leases (24-60 months) that provide businesses with the option to purchase the equipment at the end of the lease period. With a finance lease, businesses make monthly payments for the use of the equipment, and at the end of the lease, they can choose to purchase the equipment for a predetermined amount (often a percentage of the original cost). We call this type of lease ‘lease purchase’
Part III: Key Considerations When Leasing Apple Devices
When leasing Apple devices, there are several important factors to keep in mind:
It is crucial to carefully review and understand the lease agreement before signing. The lease agreement outlines the terms of the lease, including payment schedules, end-of-lease options, and maintenance responsibilities.
Payment Options and Schedules
Businesses should consider their budget and cash flow when choosing a payment option and schedule. Monthly payments are the most common option, but some leasing companies may offer quarterly or bi-annual payments.Infinite Loops default payment schedule is quarterly.
Leasing companies typically require businesses to carry insurance on leased equipment. It is important to understand the insurance requirements and costs associated with the lease.
Equipment Maintenance and Repair
Infinite Loop provides a comprehensive, no hassle warranty for the whole term of the lease ensuring that if anything does go wrong with the device, it is collected and repaired at no cost to the customer. What is more, we provide loan equipment while yours is being repaired ensuring the minimum disruption to your business!
Part IV: End-of Lease Options for Apple Devices
At the end of the lease period, businesses have several options:
Purchase the Equipment
If the business has a finance lease, they can choose to purchase the equipment at the end of the lease period for a predetermined amount. This option is beneficial for businesses that have used the equipment extensively and want to keep it for the long term.
Renew the Lease
Businesses can choose to renew the lease for another term, which allows them to continue using the equipment without the need to purchase new equipment. Renewal options may include the ability to upgrade to newer equipment or extend the lease term.
Return the Equipment
If the business does not wish to purchase or renew the lease, they can return the equipment to the leasing company, in this case Infinite Loop. The business must ensure that the equipment is in good condition and free of damage, as they may be liable for repair costs if the equipment is damaged.
Part V: Managing Your Apple Device Lease
Proper management of an Apple device lease is critical to ensure that the business is getting the most out of their equipment. To manage a lease effectively, businesses should:
Keep Track of Leased Equipment
Businesses should maintain an accurate inventory of leased equipment, including the location, condition, and end-of-lease date. This will help businesses stay on top of lease renewals and end-of-lease options.
Manage Lease Payments and Expenses
Businesses should keep track of lease payments and expenses to ensure that they are meeting their financial obligations. Leasing companies may charge late fees or penalties for missed payments, so businesses should ensure that they are paying on time.
Communicate with the Leasing Company
Effective communication with the leasing company is crucial for managing a lease effectively. Businesses should keep the leasing company informed of any changes to their equipment needs or payment schedules.
Part VI: Frequently Asked Questions
What is the difference between an operating lease and a finance lease?
An operating lease is a shorter-term lease that allows businesses to use the equipment for a set period of time before returning it to the leasing company. A finance lease is a longer-term lease that provides businesses with the option to purchase the equipment at the end of the lease period.
What happens at the end of the lease period?
At the end of the lease period, businesses can choose to purchase the equipment, renew the lease, or return the equipment to the leasing company.
What is included in a lease agreement?
A lease agreement outlines the terms of the lease, including payment schedules, end-of-lease options, and maintenance responsibilities.
Part VIII: Benefits of Leasing Apple Devices
Leasing Apple devices can offer several benefits for businesses, including:
Leasing allows businesses to spread the cost of acquiring new technology over time, which can free up capital for other areas of the business. Additionally, lease payments may be tax-deductible, which can further reduce the cost of leasing.
Access to Latest Technology
Leasing allows businesses to stay up-to-date with the latest technology without the need to purchase new equipment outright. This can help businesses stay competitive in today’s fast-paced digital landscape.
Reduced Maintenance Costs
All lease options from Infinite Loop include our TotalCare warranty. This is a no quibble warranty for the duration of the lease. If anything goes wrong, hardware or software, we are here to sort it out. In the first instance on of our technicians will log into your device to see if the problem can be resolved remotely. If Not, we will arrange for it to be collected and a replacement loan machine to tide you over until your is repaired. We will even migrate your data to the loan device so you are up and running with the minimum of downtime.
Leasing allows businesses to choose the length of the lease term, the type of lease, and end-of-lease options, providing flexibility that can accommodate changing business needs.
Part IX: Drawbacks of Leasing Apple Devices
While there are several benefits to leasing Apple devices, there are also some potential drawbacks that businesses should consider, including:
Higher Total Cost of Ownership
Leasing may result in a higher total cost of ownership compared to purchasing outright. This is because businesses will be paying for the use of the equipment over time, which can add up over the long term.
No Ownership of Equipment
Leasing does not provide businesses with ownership of the equipment, which means they will need to return it at the end of the lease period. This can be a drawback for businesses that want to keep the equipment for the long term. However, Infinite Loop has a lease option for those that want to own the equipment at the end of the lease!
Leasing agreements may include maintenance requirements, such as regular inspections and repairs. This can be a disadvantage for businesses that prefer to manage their own IT equipment. However, atInfinite Loop we see our TotalCare warranty a big advantage to businesses.
Businesses that lease Apple devices must adhere to end-of-lease obligations, such as returning the equipment in good condition. Failure to do so may result in additional fees and penalties.
Part X: Choosing a Leasing Company
Having done quite a bit of competitor analysis, we are certain that Infinite Loop offers leasing options that are competitive and because we handle everything in-house, we believe we offer a superior support package should anything go wrong with the device during the term of the lease.
When choosing a leasing company for Apple devices, businesses should consider several factors, including:
Reputation and Experience
It is important to choose a leasing company with a good reputation and experience in leasing Apple devices. This can help ensure that businesses receive high-quality equipment and services. Infinite Loop has over 300 5 star reviews on TrustPilot and Google and 50 years combined experience in the industry.
Lease Terms and Options
Leasing companies should offer lease terms and options that can accommodate the unique needs of the business, such as flexible lease terms and end-of-lease options. Infinite Loop offer lease terms from 12 months to 6 years.
Leasing companies should offer maintenance services that can help businesses reduce the costs associated with repairs and maintenance. At Infinite Loop we have a dedicated repair team in-house that handle all repair and maintenance issues.
Part XI: Conclusion
Leasing Apple devices can be a cost-effective and flexible solution for businesses of all sizes. By providing access to the latest technology without the need for large upfront costs, leasing can help businesses stay competitive and efficient. While there are some drawbacks to leasing, such as higher total cost of ownership and no ownership of equipment, these can be outweighed by the benefits of cost savings, access to the latest technology, reduced maintenance costs, and flexibility.
When choosing a leasing company, businesses should consider factors such as reputation and experience, lease terms and options, maintenance services, and cost. By carefully reviewing and understanding the lease agreement, keeping track of leased equipment, managing lease payments and expenses, and communicating effectively with the leasing company, businesses can successfully leverage the benefits of leasing Apple devices for their business needs.
In conclusion, leasing Apple devices can be a practical and cost-effective solution for businesses that need access to the latest technology without the high upfront costs of purchasing. By choosing Infinite Loop that offers flexible lease terms, maintenance services, and competitive pricing, businesses can benefit from reduced maintenance costs, improved cash flow, and increased productivity. To ensure a successful leasing experience, it is important for businesses to carefully review and understand the lease agreement, keep track of leased equipment, manage lease payments and expenses, and communicate effectively with the leasing company. With these considerations in mind, businesses can confidently choose to lease Apple devices as a strategic investment in their future growth and success.
If you are interested in talking to us about our leasing solutions, give us a call or drop us an email.