Copiers and printers are used to do document management tasks and the majority of organizations choose to lease them instead of purchasing them. However, that does not necessarily mean that a lease is the best way to go. It is best that you base your decision on your individual needs and preferences.
What are the advantages of leasing a copier or a printer? There will be lower upfront costs. Small businesses usually do not have a massive cash flow, making leases a great option and leases rarely require a downpayment.
Predictable monthly payments are also an advantage. You can stick to your budget and you know exactly how much you will pay every month. You can also have upgrade options. When you are leasing, you are not stuck with the copier or printer after its technology becomes obsolete. At the end of your leasing term, you have the choice to upgrade to a newer model with high-end technology.
Another advantage is it being tax deductible. Leased office equipment is considered a lease expense and it is not an asset. It can help you qualify for income tax benefits. The lease can also be written off entirely every month, meanwhile a direct copier purchase must be depreciated over time. There is also no maintenance needed, maintenance to cover the wear and tear of your equipment is not an additional expense when you lease a copier or printer. The costs are also included in your flat payments.
The disadvantages of a copier leasing is that there is a higher overall cost. Your total lease cost will also be based on the copier that 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 future.
There are also more strict terms. You are required to adhere to the leasing company’s terms and if you wish to discontinue using the copier or you need a better model, you need to cancel the contract but that would be expensive to do. There is also no equity, if you are leasing a product you do not own it so you can’t just sell it whenever you wish. Plus there is limited product availability, when leasing equipment your options are not endless, you must choose from the products that are offered by the leasing company.
Modern Performance and Features
When you buy a copier, it is an investment. That investment has to last at least five years or in some cases, it is 10 to 15 years. A downside to this is long-term purchase and technology improves fast.
In just three years, your purchased copier is not as fast as the new copiers on the market, and it probably lacks some features that would improve productivity. When you lease, you can lease on a short-term basis and have the option to upgrade your office copier. This way, you will always have the latest hardware and software that can be used for your business. This can make a massive difference in overall costs, labor and production.
Initial Expense and Budgeting
Another important consideration for any business is capital. Business equipment is expensive. Numerous businesses have to take out loans, and then the down payment on that loan and its interest becomes a factor. Leasing a copier does not require the same upfront cost. Leases are usually handled on a monthly basis, and the first payment is usually the same or close to the number of subsequent payments.
If you wish to get copier leasing services in Houston, you can check them online. There is copier leasing in Houston, information about copier leases in Houston and there are companies that can assist you so you can have a clear choice in Houston.