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To BUY or to RENT? That is the question.

As a consumer myself like you, we often face a situation where we need to make a decision to buy or to rent on a certain product. So which is more beneficial to us?

After a series of research and experience of different decisions, I come up with a conclusion that if you get it for personal use, then buy outright, while if you are getting it for company use, rent would be a better option. And here is why.

For personal use, buying is the best option because you can get the system and maintenance at a much lower price.

In the current market, seller offer “rental option to own” service usually go through a credit service provider or leasing company (subject to approval). Where you actually paid full price with interest for a period of 2-5 years that make the total sum you pay sky rocket. And the seller claimed in cash immediate from the lease provider.

But if you are looking for instalment plan, there is a better option if you have a credit card. You can choose FPP (Flexi Payment Plan) or EPP (Easy Payment Plan). These plans usually come with a much lower interest (1 time charge at per annum basis, all banks were variations in interest rates).

EPP - The seller is also the merchant for the bank same as your credit card so it provides a direct instalment plan.

FPP – The seller are not the merchant for the bank of your credit card. Thus, you have to personally apply the service of that particular transaction and turn it into instalment plan.

Note: Do call your bank to check the interest rates and arrangement before you do the transaction. Certain bank requires you to call within 3 days after a transaction or call after 3 days after the transaction.

However, you are highly recommended to rent for your company use.

Because anything you bought for office use is considered an asset of the company with a 20% depreciation yearly under office equipment. While anything you rent are considered as expenses of your company under taxation rules.

So for a company, look for pure rental basis with fixed and reasonable monthly rental, good service for peace of minds, and a within 2 year agreement so you can enjoy latest models. Do not try to commit too long.


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