Apple financing assists businesses seeking to regularly update equipment

Updating an office's Apple computers typically isn't an insignificant expense. Fortunately, Apple financing assists organizations seeking purchase and upgrade flexibility.

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Business owners quickly learn the importance of cash flow. Purchasing desktop, laptop, and tablet computers outright doesn't always make the most sense; often, financing and leasing tech equipment proves wiser, especially considering standard depreciation practices, corresponding tax implications, and how rapidly these equipment expenses accumulate.

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Apple financing assists businesses not only with obtaining and implementing financing, but Apple can also help select the best computer solutions for a business' operations. Minimal upfront investment is required, making it easier for startups and even seasoned businesses to acquire the tech equipment they require without incurring significant one-time expenses.

Apple's Business Financing plans simplify tech purchasing and ownership. Apple assigns a dedicated AppleCare team to supporting Business Finance plan customers. Businesses also benefit from knowing they can receive AppleCare coverage on all products, and AppleCare is automatically included with many business plan transactions.

And using Apple financing, businesses can refresh their tech equipment every two years, while receiving monthly payment rates that are predictable and more easily budgeted vs. replacing some systems here and upgrading others there and battling the corresponding financial cash flow challenges. With the option to include services and accessories (e.g., keyboards and cases) within the finance plans, businesses can bundle all their tech expenses into one monthly payment.

For ballpark estimating purposes, iPads start at $23 a month, iPhones begin at $29 a month, and Macs start at $41 a month. Minimum orders need to be $1,000. A six-month company operating history is necessary, and a personal guarantee may be required for organizations operating less than four years.

With Business Financing plans, commercial organizations receive hardware service for all devices and qualified business support. Businesses also receive onsite service for Mac desktops (in covered areas), as well as express iPad and iPhone replacement, under qualifying conditions.

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CIT Direct Capital fulfills the actual financing components for Apple, and the leasing process essentially consists of four steps:

  1. A business adds the Apple products it requires to the online lease estimator.
  2. The business completes the online application.
  3. Assuming the application is approved, the business reviews the final financing terms and signs the corresponding documents.
  4. CIT Direct Capital pays Apple, and then Apple processes the business' order.

Businesses can apply for Apple Business Financing online, at Apple Stores, or through an Apple Authorized Reseller.

At the end of the lease term, the business can return the gear, purchase the equipment at the current fair market value, or rent the off-lease equipment by making monthly rental payments. Notably, 12- and 36-month lease terms are available.

Businesses seeking to own their equipment after two or three years can select a one-dollar purchase option. The plan provides the ability to spread payments over a period of time, and own the equipment at the end of the finance period.

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Image: iStock/Christian Mueller

By Erik Eckel

Erik Eckel owns and operates two technology companies. As a managing partner with Louisville Geek, he works daily as an IT consultant to assist small businesses in overcoming technology challenges and maximizing IT investments. He is also president o...