Leasing your car, for business or personal use is very much becoming the norm, as it presents a cheaper alternative to a bank loan. Thus, it is no wonder that as prices for buying a new car continue to increase, many are opting to rent their car for one to five years, and then hand it back, upgrade or renew when the lease is up. Does this not make sense to do the same for your other major expenditures? Your practice’s dental equipment, for example.
Buying your dental equipment outright
As a dentist who is part of a burgeoning, modern and innovative dental practice it makes sense that you would want and expect to use the latest, state-of-the-art technology and equipment for treating your patients. However, the initial cost involved for the outright acquisition can be prohibitive, and is often accompanied by an immediate and noticeable reduction in available cash flow.
With each use the value of a dental unit quickly falls and to all intents and purposes, in terms of investment, a piece of equipment, after two years of regular use, like a car, is next to worthless.
Leasing your equipment
You can rent almost all of the equipment in your practice. This particularly applies to anything that has a high ‘wear out’ factor. Sterlisation devices and IT systems, for example, are items that you should never really consider owning outright because their ‘wear out’ factor is so high. Therefore to have the option of renting or leasing such products, where you have built-in options for upgrading at the end the contract, is a really good idea.
This approach can also apply to cabinetry and fixtures in your practice; not necessarily because they are likely to wear out, but in today’s competitive environment, keeping the practice looking smart and up to date is, for your patients at least, as important as the actual equipment used.
Dynamic equipment on the other hand, such as dental units and X-ray devices, will probably last 15 years. However, during that time they would start to cost more in repair bills and maintenance than if they has been leased for five years and then updated. It would also arguably be in your best interests, from a competitive perspective at least, to be seen to update your practice equipment regularly, thus instilling confidence in your patients that yours is a practice that remains truly at the forefront of the profession.
The way forward
Leasing is a sure fire way to avoid depreciation, reduce maintenance costs and ensure you stay ahead of your competition by regularly renewing your equipment and facilities.
Clark Dental offers competitive leases on a wide range of dental equipment and supplies. From the latest ergonomically designed dental units to state-of-the-art X-ray devices and IT solutions, leasing your practice equipment could save you money and time.
For more information call Clark Dental on 01268 733 146, email [email protected] or visit www.clarkdental.co.uk.