Should you buy or lease a copier?
If you’ve ever been in the position of having to replace your office copier, you can relate with the agony of the decision: “Should I buy or lease my copier?”
Spoiler alert: the answer is yes.
The truth is that there are advantages to either option; the best solution depends on what your business needs are.
Why You Should Lease a Copier
Owning a copier means that you are burdening yourself with the risks of anything that happens with it. These risks can be mitigated by having an office equipment service agreement that can cover your multifunction copiers, printers, mailing equipment and more.
Most businesses, however, don’t really have a vested interested in ownership: what you are looking for is an up-to-date model, offering you all of the features that copier manufactures add every year in new models, including important document security features like data encryption. A lease will afford greater flexibility: you will have access to the newest models every few years.
Leasing a copier offers the cash flow benefits: saving financial resources and spreading your payments over time allows you to invest that money in business growth opportunities and marketing. Additionally, monthly payments allow you to budget the cost of the copier over time.
Finally, purchasing a copier means tax deductions in the form of depreciation, while leasing costs are a pretax business expense, which means you can deduct the entire amount of each payment.
Why You Should Buy a Copier
The value to owning a copier, be it a basic black and white copier or a multifunction copier, is that you are not dealing with monthly payments, which you need to budget for and make sure you keep up with.
If you are interested in owning a copier that you can resell to offset some of the cost, when you’re ready to upgrade, buying it might be the best solution for you.
Purchasing a copier means that you can also buy a refurbished unit and, while that might not get you the latest model, options and capabilities, if keeping cost to a minimum and not having recurring payments is you primary objective, this might be a valid option for your business.
So, what’s the best choice for me?
It’s clear that both choices have benefits. When trying to decide, make sure that you choose a reputable dealer, who can help you make the best decision by asking the right questions. If you choose to buy your next copier, make sure you budget for a service agreement, which will add life to your multifunction copier and save you headaches and potentially expensive repairs down the road.
If you lease, your options will be broader, but make sure you sit down with a dealer consultant to understand what leasing options are available, what upgrade rules and allowances are offered and what copier models are ideal for your business.
In either case, make sure you have a clear idea of what your priorities are and how you’ll use your new copier, and take time to consult your dealer representative, who will help you make a decision that fits your business needs.