We have both outright purchase and leasing quotes for the same gear and we're trying to weigh up the best option for the school.
The costs are similar, but there are advantages and disadvantages of both - mainly from a stock holding/financial planning point of view.
Does anyone have any experience of leasing from Stone? If so how did you find it?
Ta,
Ben
Not leased kit from them but my last place had about 800 desktops from them - couldn't fault them!!
Im in the same situation do i lease or do i Purchase, but this is for Laptops for staff
All depends on the type of lease and the funds available. If you have the funds buy if not then you have to look at leasing. But only look at Operating leases not Purchase leasing (i.e after 4 years you give the items back). Otherwise you will run into all sorts of headaches.Quote:
Originally Posted by LukeC
These are the potential headaches we would like to know about!Quote:
Originally Posted by glennda
Probably best to speak with your Local Authority and there will be many rules and restrictions regarding leasing equipment.Quote:
Originally Posted by ben604
We've just had a quote from Dell and the leasing cost over three years was only £40 per unit less than outright purchase so it wasn't worth it in that case
Schools are only legally allowed to do an Operating Lease. If you're in an LEA, your LEA will have to authorise this - and you need to check with your bursar too - the 2 in my schools both won't touch leases...
I believe but you'll have to check that schools are not allowed to enter into purchase lease arangements only operating leases.
Youre business manager/bursar should know that.
Ben
Our bursar is heavily involved, we're at the point where we need to know if we're going to get stung when we give them back!
That is correct with Schools but do you know if the same applies to Academies?
Chris
Academies are still schools, and are covered by the Education Act 2002. Basically, the law states schools can only borrow with permission of the secretary of state. An 'operating lease' is not technically borrowing, it is more 'hiring'. A purchase lease is borrowing, as you're not hiring the item, you're buying it over time.Quote:
Originally Posted by CPLTD
So, it still applies.
Sorry guys, can we keep this to actual opinions of the leasing and end of lease return-the-equipment procedures!
We've had the go-ahead to lease if we want, we just need to know what we can expect when returning the equipment.
Thanks for your input so far.
I'm actively looking at the moment too (still) and Dell, for example, will give you an operating lease that expires whenever but you either give the kit back or you pay for an 'indefinite' hire period which includes the right to dispose of the equipment yourself when you no longer need it. Effectively you then own it.
I'm not looking at leasing from a cost point of view really but from a refresh view. Historically kit here gets used far beyond its shelf life and this is the only way we can get a refresh into the budget.
HBJB
yes i agree with them all we are only looking into operating leases just to keep our refreshes up to date.