Should I Lease or Buy Our Office Equipment
October 27th, 2021 by admin
The copy machine and printer are the heart and soul of your office. In fact, the average U.S. office worker uses 10,000 sheets of copy paper per year! Having a multi-use printer or copy machine is vital to most office spaces, and the question of whether to lease or buy your office equipment is always pending.
But if most of your work is done digitally, you may wonder if it's better to lease or buy your office equipment. Leasing a copier means you can have another company responsible for repairs and may even save you money in the long run. Buying a copier outright has more upfront costs but benefits your business in a real way.
In this article, we'll dive into leasing vs. buying office equipment and which one could be right for you. With a little guidance, deciding what's right for you will be as easy as hitting CTRL-P.
Determining Your Office's Needs
Before deciding which option is right for you, consider what your office needs in a printer. Here are three major considerations to make:
- Office Size: if many people will be using the copier each day, you'll want to make sure it can be repaired swiftly and easily
- Paper Generation: consider how much paper your office generates daily; if your business is heavily paper-based, you'll want to be sure your copiers and printers run when expected
- Multi-Use Needs: do you need multi-use printers, copiers, scanners, fax machines, or more?
After determining the physical needs of your office, ask yourself whether your primary directive is saving money or staying current. Buying a printer allows you to save more in the long run; leasing a printer makes it easier to regularly update your machine.
Neither option is necessarily better than the other! But based on these pros and cons, one may be better suited to your budget.
The Pros of Leasing Office Equipment
When you lease a copier or printer, you sign a contract with the leasing company saying that you will use printers that belong to them. Essentially, you are renting each machine month-to-month. This has some surprising benefits.
Reliability
When you work with a leasing partner like Lang Company, they assume all responsibility for the machine or machines that you are working with. This means that maintenance and upkeep of the machine remains a top priority, allowing you to focus on the more important aspects of your business aside from toner levels and paper jams.
Monthly Payments
Working a smaller monthly payment into your business's budget may be easier than saving to buy multiple copiers outright. An anticipated monthly payment can be managed and planned for and usually includes repairs and necessary upgrades. Leasing a copier presents fewer “surprise” costs.
They Repair Your Machine
The company will take care of all repairs and updates necessary for your machine. This can take a lot of stress off your shoulders, knowing that someone else is responsible for servicing your machine. Repairs are a single call away when you lease your printers.
The Pros of Buying Office Equipment
Many shy away from buying copiers and printers outright because of the upfront costs. But buying printers can be an excellent solution.
Cheaper in the Long Run
Yes, you pay all the money upfront: but then that's it. No monthly payments, no interest, nothing! If you can gather the capital to purchase the machines upfront, it'll save you money in time.
No Long Term Contracts
If you decide that after six months you want to sell the old copier and buy a newer one, you can! Buying a copier eliminates the need to wiggle out of tricky contracts. This gives you the freedom to update and trade your machines at will.
Ownership Rights
Owning your machines makes them assets to your business. Purchasing copiers can also be written off as a tax deduction later on! Consult with an office copier solutions company to see how your machines can turn into benefits.
The Cons of Buying Office Equipment
Contrary to popular belief, there are downsides to buying copiers and/or printers. With great copying, power comes great responsibility…and that can burden a small business.
Financial Responsibility
If the copier breaks or stops working, you're on the hook for replacing it. This mindset can lead to businesses using outdated technology for far too long, just to avoid buying again!
Price Depreciation
Unfortunately, the worth of printers depreciates over time. Technology is advancing so quickly that older models may not generate much profit. You may be able to recoup some of your costs later on, but likely not the full sum.
Responsible for Repairs
When you own your copier, you're responsible for finding a repairman and paying them for their time. Depending on how many copiers you'll need and how much paper you generate, this may be too much of a hassle!
You're Ready to Lease or Buy Office Equipment
No matter your office's size or volume, it's important to have a high-quality printer and copier on hand. Deciding whether to lease or buy a copier is an important step for every office! We are sure that you'll make the right decision for your workspace.
If you're a business owner in Louisville looking for office copier solutions or more, contact us HERE.
We offer modern document management systems with unmatched local customer service. Our mission is to provide the best solutions that will match your business, not just make a sale.
Shoot us a message to see what we can do for you!
Posted in: business process optimization, office copier and printer