There are many industries that need to use testing equipment on their technology. From cell phone companies and satellite providers to aerospace developers and computer manufacturers, testing equipment is a regular part of maintaining the smooth operations of their business. When it comes to leasing versus buying testing equipment, there are many who say leasing is the better option. If you’re wondering whether you should lease or buy, read on for the important benefits of leasing your testing equipment instead of buying.
Whether you’re a large or small company, your testing frequency may not occur on a daily basis. If you know your testing schedule isn’t rigorous and you only need testing equipment several times a year, it’s not useful to buy all the necessary equipment and leave it in storage. New testing equipment can cost around $100,000 or more for one item and often, newer versions of this equipment is introduced every few years. Expensive initial costs and constant maintenance charges are why many companies prefer to lease such expensive and powerful equipment.
Businesses that lease electronic equipment work with companies of many different sizes, locations, and budgets. A large leasing company may have several offices around the country, ensuring rental location convenience. They can also offer companies with different budgets alternatives to procuring test and measurement equipment that’s too expensive. If your development cycle or operating budget changes for any reason, usually a leasing company provides options to help you get the equipment you need at a lower cost. These rental companies will work with you to ensure you have proper equipment without breaking your budget.
Reliable, accurate test results for the technological devices your company deals with are critical for the maintenance, repair, and safety of your business and the satisfaction of your customers. Leasing companies understand how essential it is to remain on the leading edge of technology. In the telecom market, for example you are subject to fierce competition and any outage can cost your company both money and customers.
For industrial clients, a leasing company will work with you to determine industrial testing challenges, then work to develop tailored solutions. You can rent confidently from a company that reinforces their solutions with a high rate of equipment availability, a standardized billing process, and equipment that is up to date and calibrated with applicable software and firmware updates.
A leasing company will likely also have an ISO9002 and ANSI accredited lab to maintain and calibrate all their rental equipment. With reliable equipment of the utmost importance, leasing companies who purchase directly from the manufacturer and maintain their equipment competently are recommended to companies in any field and of any size.
The best leasing companies have a large inventory they source from over 200 manufacturers, so rather than contacting a dozen manufacturers to find the one piece of testing equipment you need right away, look for a rental company with a big inventory. Examine their inventory for key manufacturers such as Keysight, Rohde & Schwartz, Anritsu, Tektronic, and FLIR.
Technology and maintenance needs vary from industry to industry, so it’s important to find a rental company with a large inventory of high-quality technology that’s current and modern. Look for a leasing company on the cusp of new technology with the most cutting edge devices available.
In many industries, like telecommunications, the cost of research and development increases sharply with each new generation of cellular standards. In this industry, it isn’t uncommon for companies to budget millions of dollars for testing and maintenance validation equipment, only to find that changes in the standard have made the equipment obsolete within just a few years.
Replacing testing and maintenance equipment every two years can get very expensive, but with the right rental company, you can get access to the current testing tech you need without buying it.
Getting the Best
Leasing equipment is a very safe option, as there are no purchase and maintenance costs.
Find a company that will share their knowledge with you and help you optimize your test equipment expenditure, maximize the return from your current assets, and plan effectively for your future needs. Choose an electronic test equipment rental company with your needs in mind for a more flexible and affordable option.
Frankie Little is an aerospace engineer, IT specialist, and a freelance technology writer from Los Angeles, California. Combining her expertise in the aerospace industry with her business insights, she has been fundamental in providing for her company the best test and measurement equipment available on the market. When she is not busy with work, she enjoys writing about insights that entail being a successful engineer.