How to decide whether you should rent or buy your next point of sale system
Why use a register in the first place?
A cash register/POS system will help keep your money secure, reduce theft, speed up transactions and provide reporting options. For a more in-depth review, read our article on Why to Use a Point of Sale System.
What is the price difference?
Renting point of sale equipment is definitely more cost effective than an outright purchase. There are several factors that affect price. In general, by the time you rent 6 times, you will have reached the cost of buying the system.
Does the number of registers matter?
As the number of terminals scales up, so does the initial investment. Whether you’re looking for a single unit or 500, the formula from the previous point hold true. Renting will be easier on the bottom line.
How long can rentals last?
You can rent a machine for a day, a week or months. Pricing is adjusted based on length of time needed. For periods greater than 6 months, purchase or leasing options are usually more beneficial than a standard rental.
What about repeated events?
Determining whether renting or purchasing is a better value depends on how often the event(s) occur. Is the event repeated annually or several times per year? If they are more spread out, renting will usually be more attractive. If the equipment constantly goes from event to event, you should lean towards buying.
What about storage?
If you only use the register a few times a year, you need to find space to store the equipment in-between uses. While it’s unplugged, the internal battery slowly drains. If the battery drains completely, the programming will be lost. Make sure you plug it in for at least 24 hours every 3 months. This is not an issue if you own a register that you keep plugged in, and renting ensures the register will always be ready.
What maintenance is involved?
General maintenance is pretty simple. Keep surfaces clean, especially near moving parts like keyboard buttons and paper feed assemblies in the printer. If you rent, you won’t have to worry about maintenance.
Is programming difficult?
Programming is included on rentals and purchases at American Metro. Training and phone support is part of the rental package to help with ALL questions you may have. On purchases, you will be trained on how to operate and program your equipment. Additional support packages are available.