Buy new? Buy used? Lease?

Industry leaders weigh in on the right purchase decision.

By Maura Keller

The decision to buy or lease equipment can be difficult. It requires careful consideration of the many factors involved as well as finding key specialists who can provide advisory services to complete the deal.

“I have never considered leasing equipment. I prefer to do the research and make wise purchases.”
Daniel Hayes, Oklahoma Custom Canvas Products

“I leased equipment way back in the beginning but now I simply buy it. I like to own what I have and have as few bills as possible.”
Elizabeth Diaz, North Beach Marine Canvas

“I have always tried to buy used and pay as I go, but I may have to lease the new 3-D tech. The ROI is assumed to be five to 10 years.”
Larry Schneider, Homestyle Custom Upholstery

“I haven’t ever leased equipment. I do buy used equipment when available. The ROI wouldn’t be high enough in my small home-based shop to even consider larger equipment.”
Barb Czarnecki, Bayside Custom Canvas

Maura Keller is a freelance writer based in Plymouth, Minn.