Compare the total, not the monthly payment
A small monthly lease payment can look affordable, but multiply it by the term and add taxes, insurance or protection fees, and any buyout. Compare that total with the cash price of the same terminal.
Equipment leasing & financingShould I lease or buy a credit card machine?
For most businesses that can afford it, buying a credit card machine costs less over time. Leasing lowers the upfront cost, but terminal leases often…
THE SHORT ANSWER
For most businesses that can afford it, buying a credit card machine costs less over time. Leasing lowers the upfront cost, but terminal leases often run three to five years, cannot be cancelled, and can total several times the equipment’s price. Financing and month-to-month rental are alternatives worth comparing on total cost.
Updated · Waytrix Pay editorial team
When leasing can make sense
Leasing may help if cash flow is very tight, if the equipment is expensive and bundled with installation and support, or if the lease is genuinely cancellable. Read the cancellation clause and the end-of-term terms before signing.
Other options
Consider these before signing a long lease:
- Buy outright: lowest total cost, and you own the terminal.
- Finance: you own the terminal and repay a loan, often at a lower rate than a lease.
- Rent month to month: higher monthly cost, but no long commitment.
- Use provider equipment: some providers include a terminal with processing; check the terms if you leave.
Check compatibility first
Make sure the terminal works with your processor and POS. Some terminals are locked to one processor, so you cannot use them if you switch.
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