For small and medium-sized operations, purchasing a higher-end espresso machine can be risky. Purchasing something so high-end is a risky investment because it may not pay off or work as expected. When buying your espresso machine, you may want to opt for a payment plan if your financial situation calls for one and if one is available. Which payment plan is the right one for you? A month to month payment plan or an annual payment? In this article, we’ll discuss the advantages and disadvantages of both.
A Month to Month Payment System
Month to month payment plans may be convenient at the time of purchase, but in retrospect, it may not be convenient after the first month. If your business is just starting out, a month to month payment plan may be great if you’re testing out the waters with how well it produces the product.
A month to month payment plan is also great if the machine breaks, as you won’t be swindled into having a replacement of the same machine sent just because you’ve paid upfront for a year. Monthly payment may be cheaper every month, which is a huge advantage, but when tallied over the lifetime of the machine, you may be spending more than if you had just agreed to an annual payment.
An Annual Payment
Annual payments are risky, and they’re also great. If you’re just trying out the machine, annual payments may seem risky as you’re afraid of committing to a machine you haven’t been able to test drive yet. However, if you end up liking the machine, you’ll have already paid it off for the year, allowing you to focus on other bills. Those mentioned above are the biggest advantages and disadvantages of choosing an annual payment.
Typically, some manufacturers have a trial period where you can get your money back, as well as a warranty for defective machines. Even if you pay it for a year, you can still have replacements sent or even your money back if it’s within the money-back-guarantee time frame. Paying up front also allows you to spend less money overall on the machine, as monthly payment plans are riskier for the manufacturer, so an extended period of time for payments is usually added.
The Final Decision
After briefly reviewing the types of payments you can make on a commercial espresso machine, we recommend annual payments. Not only will you spend less money overall, but your machine is also covered by a warranty in case something does happen. Choosing an annual plan will allow you to be billed only once per year, instead of every month, so you don’t have to worry about an extra bill 12 times out of the year.
Depending on the company policies, you may be able to return the machine after the financial period is used up, so you can move onto more efficient commercial espresso machines for your business.