The benefits of ownership over and above those of renting or leasing. These include:
1) Full rights to the asset
2) An asset for bank security
3) Likely to 'care' for the equipment
4) Full life utilisation
5) Resale / residual value opportunity.
Owning an asset is not always a good idea. Why tie up money in physical equipment or infrastructure if these funds can be better used elsewhere? Also the company may be short of funds, and using leasing or equipment finance may be a cheaper form of funding that going to shareholders for more. Technical obsolescence - risks exist that new models may render our fully owned equipment worthless. Lease or buy is not such a simple decision after all.