Today’s copiers and printers perform multiple document management tasks and a vast majority of businesses opt to lease this equipment, rather than buy outright. However, that doesn’t necessarily mean a lease is the best way to go. You should base your decision on your individual needs and preferences. Here is a quick overview of factors you should consider before leasing your next office copier/printer.
- Lower upfront costs: Small businesses often do not have a large cash flow, making leases (which rarely require a downpayment) a great option.
- Predictable monthly payments: Stick to your budget knowing exactly how much you’ll pay each month.
- Upgrade options: When leasing, you’re not stuck with the equipment after its technology becomes obsolete. At the end of your leasing term, you can upgrade to a newer model with better technology.
- Tax deductible: Leased office equipment is considered a lease expense not an asset, helping you qualify for income tax benefits. The lease can be written off entirely each month, whereas a direct copier purchase must be depreciated over time.
- No maintenance: Maintenance to cover the wear and tear of your equipment is not an additional expense when you lease. The costs are included in your flat payments.
- Higher overall cost: Your total lease cost will be based on the equipment you choose, your credit history and the length of the lease. You are able to avoid the initial lump sum payment with leasing but you will pay more in the long run.
- Strict terms: You are required to adhere to the leasing company’s terms. If you want to discontinue using the equipment or you need a better model, canceling the contract will result in a hefty penalty.
- No equity: If you are leasing a product you do not own it, meaning you cannot simply sell the equipment whenever you wish.
- Limited product availability: When leasing equipment your options are not endless, you must choose from the products offered by the leasing company.
Superior Document Solutions
Take into account what is most important to your business when it comes to printing and copying. You should base your decision on your business objectives and how the equipment will be used when you are deciding whether buying a copier/printer is the right choice for your business. As a business owner or manager of an organization when making any purchase decision the goal means justifying the cost of the purchase. At Superior Document Solutions we provide print management solutions that excel and perform higher than most business standards. Let us help you compare