Four Reasons to Consider a Technology Lease for Your New Laser Scanner
If you’ve decided to upgrade your scene documentation capabilities to include state-of-the-art 3D laser scanning, you’re in good company. “A growing number of crime scene units recognize the beneﬁts of adopting 3D laser scanning instruments to assist with bloodstain pattern analysis, shooting incident reconstruction, traffic collision data collection, and general crime scene reconstruction,” the Forensic Technology Center of Excellence reports. “3D laser scanners offer crime scene units an excellent tool to increase the speed and efficiency of data collection. The instruments provide scientiﬁcally accurate data that enable a completely objective analysis and highly credible evidence in a court of law.”
Your next step is determining the right technology and how to acquire it. In the past, most agencies had only two options to secure new technology: buy it outright or obtain a grant. But there is another way.
Increasingly, public safety agencies are discovering that ﬁnancing in the form of a technology lease not only is a viable option but also makes good business sense.
1. Takes the guesswork out of budgeting for capital expenses
With lease financing, you have the advantage of implementing a ﬁxed monthly payment into your annual budget. This eliminates the need to secure up-front funding for large capital purchases and instead enables you to use budgeted funds for the manageable year-over-year technology lease payment.
2. Preserves cash flow
Technology lease ﬁnancing is a fast and affordable way to deploy state-of-the-art technology without tying up cash. It even provides 100 percent ﬁnancing for soft costs such as training, licensing fees and maintenance, which are typically excluded in a conventional loan.
The documentation process for a technology lease is simple. Unlike a bank loan, very little paperwork is involved. The basic application can even be completed by your dealer or sales representative at your request. Applications are generally approved within one to two hours, and in most cases, a simple contract outlining the lease pre-approval and terms will be issued the same day.
Since you won’t be incurring debt as you would with a bank loan or cash, a public vote won’t be required. However, if you do need to secure approval from your governing body or other internal stakeholders, the lease pre-approval documents will contain all the information required to facilitate the process so you can move forward quickly.
4. Keeps your agency ahead of the technology curve
Public safety agencies often hold on to outdated equipment because funding isn’t available to purchase faster and more efficient next-generation technology. With lease ﬁnancing, obsolescence protection can be built into your agency’s long-term business plan, which makes good use of public dollars.
Your lease will specify an end-of-term fair market value for the equipment, which drives the payment down. When the lease ends, you have the option to purchase the equipment for the predetermined fair market value, turn in the equipment, or upgrade to new next-generation equipment for a comparable monthly payment.