Buy Now, Pay Later: The Budget Solution
- Choose to pay in monthly, quarterly, or annual options.
- Minimum dollar amount for a lease is $10,000 and the maximum is $250,000.
- Leasing allows you to finance all of your technology into one payment. All of your hardware, services, and software can be on one payment, helping you manage your school’s budget.
Fair Market Value (FMV) Lease
A Fair Market Value Lease gives you the ability to purchase the product at any time at fair market value. This is a good option if you want to test out the technology and basically rent it before you purchase. You can stop leasing and return the equipment at any time, continue leasing, or purchase it at fair market value. This option offers lower monthly payments than loans for lease-to-own financing.
Dollar Out Purchase Option Lease
With a $1 Out Purchase Option you own the equipment after your finance term is up. Once the leasing period is over, you buy out the equipment for $1. This is the best option if you are sure you would like to own the equipment and use it for a long time after the finance term, but want to pay for it in increments. If you want to keep your technology updated and get new products every few years, this is not the option for you.
Benefits of Leasing
Schools face budget constraints and must choose how to spend their money wisely. Providing 1:1 solutions is a great option to keep students involved with technology that will grow with them for their academic careers. However, having devices for every student is costly, and many schools struggle to find the funding for such a large project. Leasing allows schools to purchase all of the technology needed and pay for it over a longer period of time. This gives schools more control over their cash flows.
Option to Buy or Refresh
Leasing gives schools the option to buy the devices outright after the term is up, or refresh/update their technology. If the school decides to refresh their technology, the devices are returned and the school does not have to worry about the cost of recycling, or having to store the units somewhere. The school can then purchase or lease newer units. However, if a school decides they would like to keep their current units at the end of the leasing term, the buyout program is a great option.
Add on Security Software
Keeping information on old computers secure is a concern for schools. The computers may hold sensitive information about student records or financial business. Security software is another added cost that some schools cannot afford after investing in 1:1 devices. Since leasing provides more financial flexibility, schools can afford the security software needed to protect their student’s information. This software can be added to the leasing terms for more financial flexibility.
How Can We Help?
At ScholarBuys, we pride ourselves on not only bringing you a great price that is budget conscious, but more importantly, we provide the highest level of customer service in the industry. We understand the unique needs of the education market and we are looking for strategic partners where we can enhance the level of education that they are able to provide to their student body. Please let us know how we can help you succeed.