Deciding whether to buy or lease a Mobile Surveillance System can be a challenging decision for businesses. This choice involves weighing the long-term ownership benefits against the flexibility and reduced initial costs of leasing.
Our comprehensive analysis explores these options, focusing on the Titan Virtual Officer, to guide you through the intricacies of each approach, helping you make an informed decision tailored to your business needs.
Many managers of commercial properties and construction companies are opting for mobile surveillance units over permanent security systems as a versatile, cost-effective solution. Once that choice is made, however, there’s one more key decision to make: should they buy the new mobile security equipment, or should they lease it?
With Titan’s mobile surveillance system — Virtual Officer — clients are offered both options. Here are factors to consider before deciding which option is right for your business.
Should you Lease or Buy your Mobile Surveillance System?
Option 1: Buying
|
Option 2: Leasing
|
Benefits
- It’s yours forever: Buying your mobile security system gives you ownership of the asset and can be resold when it’s no longer needed.
- You’re in control: You have the flexibility to choose your own security provider to monitor the equipment, and you can schedule maintenance at your convenience.
- It saves money in the long run: The onetime fee to purchase your mobile units will cost less over time than the cumulative cost of leasing.
|
Benefits
- Leasing Virtual Officer comes with Titan’s Protection: Once your mobile surveillance system is installed, Titan’s highly trained, in-house team will begin monitoring your property 24/7.
- Maintenance is free: Your lease covers any repairs needed to your equipment as well as software updates as they become available.
- It’s a lower upfront cost: Leasing goes easier on your budget than purchasing, bringing less disruption to your cashflow.
- Terms are flexible: At Titan, you are not held to a long-term contract and can end an agreement with just a couple of weeks’ notice.
|
Considerations
- The initial cost is high: Purchasing the equipment upfront can be financially challenging and eat up more of your budget than you’re comfortable with.
- Repairs are not covered: Outside of your warranty, any repairs needed to the equipment will be your responsibility.
- Monitoring is not included: Once purchased, you will still need to hire a security provider to monitor your property.
|
Considerations
- It’s more expensive over time: Cumulative lease payments will ultimately be greater than the upfront purchase of the equipment
- Non-ownership means no equity: Leasing gives you no option to sell the equipment once you no longer need it.
- There’s an initial commitment: Leasing Titan’s Virtual Guard comes with an initial three-month commitment to cover set-up expenses.
|
Lease to Buy
At Titan, we also offer a lease-to-own agreement if the purchase price of a new mobile security system is cost prohibitive. It’s just one of the many ways we’re willing to work with you to find a solution that works for you! To learn more, contact us today and a Titan sales team member will get back to you shortly!
