Tech Data Rolls Out New Technology Financing Options - Technology Leasing to Help Your End-User Companies
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On the technology leasing side, Tech Data has
partnered with CIT Technology Financing Services and HP. CIT
provides the financing administration for companies such as Microsoft and the
backing for other technology companies' captive finance arms.
"CIT will finance hardware from any manufacturer, but they
also finance software," says Tillesen. "This allows resellers to
offer a leasing solution. In addition, CIT
will do financing of managed services type contracts with end users."
HP is offering 0 percent financing on HP technology solutions. The personal
computer and server giant is offering two separate zero financing deals. The
first calls for the end-user company to make 12 monthly payments and at the end
of the 12-month term the end-user company can purchase the equipment for $1.
The second deal spreads the payments out over a longer term—36 months—and at
the end of the lease the end-user company can purchase the equipment for fair
market value.
Because it is 0 percent financing, the buyer takes the price of the equipment
and divides it by 12 months or 36 months, and that is the monthly payment. The
HP deal is available from Feb. 1 and is schedule to last through to April 30.
IBM Global Financing disputes that HP's 0 percent deal is
any better than anything IBM Global Financing offers, saying the way IBM
prices its products to include residual value ultimately gives customers a
better deal, according to Dan Ransdell, general manager of Client Financing at IBM
Global Financing.
For example, on a 36-month fair market value lease of
$50,000, HP would require a monthly payment of $1,389, IBM says, while the payment to IBM
would be $1,322, a savings of $2,408 over the life of the loan.
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