Should I Buy Or Lease A Hearing Aid?
Hearing Health Center recently introduced the option to lease hearing aids. It certainly makes sense. After all, we lease our cars, our smart phones, and office equipment. Why not lease our hearing aids?
Although cost isn’t the number one reason for the 80% of Americans who need hearing aids but don’t wear them,* it can certainly be a barrier to getting help.
Most people think of cars when they hearing the word leasing. Today, more people lease their cars than actually buy them. Why?
- Because they want to upgrade to the latest model every couple of years
- Because as the car gets older, it will need more maintenance and more repairs.
- Because they can drive a better, more expensive car, with affordable monthly payments.
Leasing quickly spread to other industries, including office equipment, medical and laboratory supplies, computers and IT equipment. The latest leasing trend is our smartphones. By the time we’re done paying for it, in low monthly installments, we are really to trade-in for the latest and greatest phone on the market.
Leasing Hearing Aids
The average life of hearing aids is between 3 and 5 years. Nationally, hearing aid users get new devices every 3.6 years. The reason is not necessarily because their hearing aids are bad. People get new hearing aids because:
- The prescription changed. Hearing never gets better. The hearing aids you got 3 years ago may no longer be appropriate for you.
- Ears change. The size and shape of the ear and the ear canals change with age, and wearing hearing aids often stretch the ear canal. Weight loss and weight gain also have an effect on the ears. Hearing aids may not fit correctly after a while.
- Technology advances and improves. New hearing aids increase clarity, especially in background noise, and enhance ability to communicate and participate in important conversations and activities.
If one of the things holding you back is the expense, leasing is a great solution. Most hearing aids leases are for three years. Monthly payments are as low as $99, for good hearing aid technology. Payments for the best, most advanced, premium hearing aids are approximately $200/month.
At the end of the three year lease, you can buy the hearing aids outright at a discounted price, or better yet, simply sign a new lease and get the newest developments in hearing aid technology. You’ll always have the best hearing and clearest quality of sound.
The Advantages of Leasing Hearing Aids
There are a lot of reasons why a lease may be the right option for your circumstances. Just a few of the benefits of leasing include:
- No large, out-of-pocket expenditure
- Buy-out options
- Flexible payment plans and financing
- No maintenance, repairs, or follow up costs**
Is a Hearing Aid Lease Right for Your Needs?
Only you will be able to answer this question. If you intend to wear your device until it is completely worn out and do not care about having the best possible technology, this may not be the best option. If you are interested in having a technologically advanced device, the ability to upgrade your device and want any potential issues taken care of properly, a lease is the ideal solution.
*The number one reason for not treating hearing problems is that most people don’t think their hearing is “bad enough.”
**Many leasing options include all maintenance, cover routine maintenance, clearings, reprogramming and adjustments, and manufacturer repairs.