Is it Better to Lease Or Buy a Photocopier?
While leasing copier machines is more popular than purchasing them, each option has pros and cons. Buying equipment allows you to keep it as long as you want, but it can be expensive upfront. Leasing a copier offers lower upfront costs and predictable monthly payments. It also allows you to trade in your machine once the lease expires, allowing you to stay up-to-date with technology.
If you would like to learn more about business photocopiers, you can do so here.
Should I Lease or Buy a Photocopier?
The decision to lease or buy a photocopier depends on your business needs and financial situation. Leasing offers lower upfront costs, regular upgrades, and maintenance coverage, making it suitable for businesses with limited capital and a preference for up-to-date technology. Buying provides ownership, potential long-term cost savings, customisation options, and no contractual obligations, making it a better choice for businesses with stable finances and specific requirements. Consider factors such as cash flow, technology needs, and long-term goals to determine which option is more beneficial for your organisation.
Best Photocopiers for Small Offices
Xerox Xerox WorkCentre 6505/DN
Canon Canon iR 1730i
Ricoh Ricoh Aficio MP 2000
Ease of use
Xerox Xerox WorkCentre 6655
Toshiba Toshiba e-Studio 3055c
Some more things to consider are…
Buy a Photocopier: Cost
A copier lease generally requires less up-front capital and is more manageable every month, especially for businesses that don’t have a large amount of cash flow.
It also allows for more flexibility in upgrading to new technology, ensuring that the business stays on the cutting edge of its industry.
It’s also important to keep in mind that technology changes quickly.
A state-of-the-art copier will be out of date in a few years, which can be problematic for businesses that rely on up-to-date technology to remain competitive.
On the other hand, buying a copier has its own set of costs. It’s essential to consider the long-term cost of a purchase, which may be more expensive than a leasing option. This is because copiers depreciate significantly each year and can often be sold for a fraction of their original value at the end of the lease term.
Buy a Photocopier: Flexibility
Copiers and multifunction printers are expensive equipment that can cost your company tens of thousands. This type of significant expenditure can strain your business financially if you make the wrong decision.
Leasing can be an attractive option because it allows you to spread the cost over a shorter period, which may be more budget and cash-flow-friendly for your business.
Plus, lease payments are typically tax deductible.
You also won’t have to worry about your outdated copier because you can trade it for a newer model when your lease ends.
However, you should constantly carefully evaluate the terms of your copier lease to ensure that it meets your specific needs and will work well for your company long-term. If you’re not happy with the terms of your lease, consider a different leasing company. They should be able to customise your contract to meet your unique requirements.
Buy a Photocopier: Convenience
Leasing allows you to spread out the cost of a copier in smaller payments over several years, making it easier to manage cash flow.
Your dealer can also help you save by bundling a maintenance contract into the overall price of your copier lease.
This convenience can be valuable for many businesses, especially if they need help affording enormous up-front costs.
Another advantage of leasing a copier is that it allows you to upgrade your device if technology changes without incurring additional expenses.
This flexibility may be more important than the money saved by leasing a copier over an extended period.
One major downside of leasing a copier is paying interest in addition to the actual value of your equipment. Depending on your tax region, this can make your leasing payment more expensive than buying it outright. However, the ability to deduct your monthly lease payments as a business expense can be a big incentive for some businesses.
Buy a Photocopier: Maintenance
Copier/multifunction printers are expensive equipment, and buying or leasing can be a significant financial decision for any business. To avoid any surprises when evaluating your options, it’s essential to understand the costs associated with each option. Copier leases can make sense for a variety of reasons.
For starters, they allow you to spread the cost of a device over years which can be helpful from a budgeting perspective. In addition, you can typically trade up to a newer machine at the end of your lease term, preventing you from worrying about outdated technology. However, there are several pitfalls that businesses need to be aware of when it comes to leasing.
This includes potential escalation fees, auto-renewal charges, and other hidden fees that can increase your overall cost. Working with a transparent and reputable company about these fees is essential so you can be fully prepared for any lease contract.
Buy a Photocopier- Other Useful links about Business Photocopiers:
A3 Colour Photocopier Prices
Getting the Most Out of Your Photocopiers
Photocopiers For Schools
Remember to Compare Your Business Costs is here to help your business every step of the way, from business advice or saving you time and money on your business purchases such as: