When you’re thinking about getting a card machine, there are lots of options out there. It usually boils down to two choices, whether to rent or to buy. There are advantages and disadvantages to both options.
Renting a card machine
Renting a card machine has its advantages and disadvantages.
Renting a card machine can at times be a really viable option. It gives you the option to dip your toe in the water, kind of like a ‘try before you buy’ situation. Renting a card machine allows you to find out whether having a card machine and being able to take card payments is really the right option for you.
Another advantage of renting a card machine is that it helps your business in the situation of needing a short-term solution to your payment processing requirements. For a relatively small outlay you can get a solution for those events that only run for a day or two, without getting into a long-term commitment.
Renting a card machine is also a good choice if you can’t afford the outlay of a machine. This can be especially important for a small business that is just starting out. You can always switch to a more permanent solution later.
A further advantage of card machine renting is that if something goes wrong with the machine, your provider will sort you out with a new one. You don’t then have that expense of buying a new machine.
As suggested earlier, there are a few disadvantages with renting a card machine. The main one is that it is a forever ongoing expense. You never get to the stage where you own the device. This is like leasing a car or renting a house, it’s never yours to do with as you see fit.
You also need to take good care of the machine for the same reason. If you break it, you’re likely going to be liable to replace it.
Buying a card machine
Buying your own card machine has its advantages and disadvantages.
One of the main advantages is that once you have paid for the device, it’s yours. No ongoing charges other than payment transactions. If you scratch or dent the device through wear and tear, you’re not liable to have to repair or replace the device if it is still funtional and usable.
Another advantage is that it makes it easier to switch merchant service providers. You can switch and save whenever a merchant service provider has a special offer or introductory rate available and take advantage of the savings that can be made.
Buying a machine comes with some disadvantages too. The first is expense. Buying a card machine, particularly a contactless one, can be expensive when your business is new. If you then lose or break the device, you have the cost of another one. If it breaks down, you’ll have to pay to get it fixed or to replace it.
Another disadvantage is futureproofing. Your card machine may be functional but at some point it will become obsolete. You would have to buy another one at this point or use one with limited functionality until you can afford to replace it.
As you can see, there are a host of advantages and disadvantages to buying or renting a card machine. Not sure what you need? Why not contact us for some more information and help deciding on which option is right for you. We’re happy to give you free, impartial advice. Contact us today at https://www.wirelessterminalsolutions.co.uk/contact-us/.