Copiers are important staples in many offices. Today’s copiers have evolved into multifunction devices that offer the ability to copy, print, scan and fax. And copiers also serve as an on-boarding tool for electronic document management systems as well.
While most businesses realize the value that a quality copier can offer to their workplace, they face a difficult decision when acquiring one: should we buy or lease? Is there a right answer? The right decision really depends on your company’s individual needs, goals and budget. Whether you choose to purchase a copier or lease one, you’ll want to make sure that you go through a reputable independent agent that can offer both options and the best rates possible.
To help you determine whether to lease or buy a copier, here is an overview of how these options will impact your company:
Leasing a Copier
As you well know, technology is rapidly changing, and leasing allows you to have the latest and greatest technology without a large investment at the onset. Similar to leasing a car, leasing a copier will mean that you’ll get to upgrade your copier every few years with little to no hassle.
While leasing is typically more expensive, you’ll likely realize some savings on utility bills because you’ll have the most energy efficient technology in place.
You’ll have a predictable expense with predetermined lease payments, which can help with budgeting. As a down payment isn’t required at the onset of your lease, businesses who might be in need of new technology, but are tight for funds, can acquire much needed equipment.
On the other hand, depending on your lease agreement, you may still have to make lease payments if your business goes through a period of change or growth and you no longer need the copier. At lease’s end, many companies are surprised to learn that they are responsible for returning the copier to the leasing company and are stuck with a hefty removal fee.
Buying a Copier
When you purchase a copier, the big benefit is simple: you own it, and you can do whatever you like with it. When you want to upgrade, you can sell your existing copier and use the proceeds to go towards the cost of your new copier. If you purchase your equipment you’ll get a write-off that can help your company with this year’s taxes.
However, copiers can be a large expense for many companies, and some will need financing to acquire the copier. There’s a chance that when you decide you want to resell your copier, it may not have the same value that it once did.
As you can see, there are many things to consider when deciding to buy or lease a copier. Please contact us to learn more about which solution would be the best fit for your organization’s needs, goals and budget.
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