How Much Does it Cost to Lease Audio/Sound Equipment?
Whether you need audio equipment for a theater, church, recording studio or corporate environment, leasing often makes better financial sense than buying outright.
Leasing allows you to stay up-to-date with the latest technology without making a huge initial investment. For little or no money down, you can have state-of-the-art equipment. The equipment is financed over a period of months — usually 24 to 48, but sometimes more or less.
Aside from the initial cost savings, leasing instead of buying means you’re never saddled with outdated equipment. When the lease term is up, you have options: return the equipment, trade it in for newer technology or buy it outright. When you purchase equipment, by contrast, you’re often stuck with it past obsolescence because of the large investment.
Get Free Audio Equipment Leasing Rate Quotes
Cost of Leasing Audio Equipment
The cost of leasing audio equipment depends on the type of equipment you need, the quality of the equipment, the length of the lease and your credit rating. The rate is also impacted by the type of buyout option you select for the end of the lease. Most companies offer a $1-$100 buyout option when the lease expires, but your monthly payments will be higher. Otherwise, you will have to pay fair market value for the equipment if you choose to purchase it at the end of the lease, but your monthly payments will be lower.
With good credit, you can expect:
- A $10,000 equipment lease with a $1-$100 buyout to cost approximately $450-$550 a month for 24 months; $300-$400 for 36 months; and $225-$325 for 48 months. Subtract about $10-$20 per month for the fair market value option.
- A $25,000 equipment lease with a $1-$100 buyout to cost about $1,175-$1,275 per month for 24 months; $825-$925 for 36 months; and $650-$750 for 48 months.
- A $50,000 lease with a $1-$100 buyout to cost $2,400-$2,500 a month for 24 months; $1,650-$1,750 for 36 months; and $1,300-$1,400 for 48 months.
Keep in mind that these figures are just guidelines. Rates vary from one leasing company to the next, and your organization’s credit rating plays a significant role in determining cost.
Before you decide to lease equipment, it’s important to know that leasing is often more expensive in the long run than buying. The benefits of leasing lie in obtaining equipment without having to put money down, which saves working capital for other expenses, and the ability to trade in equipment when the lease expires. However, the finance fees you pay for a lease will likely be more expensive over time than interest rate on a bank loan would be.
What Kind of Audio Equipment Can I Lease?
You can lease just about any type of audio equipment you need, including mixing consoles, speakers, sounds boards, wireless microphones, editing software, amplifiers, headphones, headsets and much more. Choose among all the major brands.
Some leasing companies specialize in audio equipment, while other companies offer leasing for all types of business equipment, from bulldozers to office copiers. It doesn’t matter which type of company you choose. The most important thing is to compare rates across multiple leasing companies before choosing one to ensure you’re getting the best deal.