There’s not a lot that’s more important to you than getting the most out of the money you’re putting back into your business. You analyze expenses, evaluate your investments, and look for ways to streamline and optimize your ROI. In light of that, you may wonder if it’s better to lease or buy your office copiers and printers. The answer may depend on your particular situation, so it’s good to evaluate both options.
Copier Leasing vs. Buying: Which is Right For You?
Your office copier(s) is integral to your daily operations. Multi-function copiers combine many functions you and your office staff utilize each day such as copying, printing, scanning, and faxing. Consequently, making the best decision between buying and leasing could potentially affect your business every day. As you make your decision, consider the following guide:
Keeping Equipment Up-to-Date
Technology advances at a pace that’s hard to keep up with. You may not have a need to upgrade to every newest model, but you want to be able to when you do need it. If you buy your office copier, you’ll have to keep buying newer models to keep your equipment current. If you lease, you have the option to upgrade every 2 to 3 years when your lease ends. It’s important to note that when you lease, you are never the owner of the equipment. Your lease company retains ownership.
Count the Cost
Buying an office copier is cheaper over the long haul, but a much larger expense up front. When you lease, there’s no up front cost, but the ongoing monthly expense adds up over time. The upfront cost of buying a machine outright often proves too high for many businesses. The smaller, ongoing monthly cost of leasing is much easier to budget.
When you buy new office equipment, the entire cost of the initial purchase is considered tax deductible. However, because you own the machine, the unit must be capitalized as an asset and depreciated over time. Since you don’t own a machine you’re leasing, the entire monthly payment is deductible and you don’t have to worry about a depreciation schedule.
Many lease agreements include a maintenance agreement either separately or rolled in together. When something goes wrong, you can have your copier serviced at no additional cost. When you buy a machine, the cost of maintenance and repairs is all on you. It’s often much easier to absorb a lower monthly cost, than larger infrequent repair and maintenance costs. One is predictable and easier to budget, the other is sudden and may cause financial strain.
The Best Machine for You
Because the cost of buying a machine is high, you’re often able to afford a better machine when you lease. As noted above, you also may be able to keep your machine upgraded more easily with a leasing option. Together, these two advantages to leasing may help you keep an edge on your competition.
Make the Best Choice for You
At the end of the day, you need to make the decision that’s best for you. Weigh your business copier needs along with the pros and cons to buying and leasing. Consider your long-term goals, capital available, and the importance of keeping your equipment upgraded. Take into account tax implications and maintenance options. Use this guide to copier leasing vs. buying to help determine which is right for you.
Platinum Copiers is a certified Sharp device dealer for the Houston area. For more information on buying and leasing an office copier or to see the latest models, Contact Us today.