Most businesses lease their copy machine and MFP equipment instead of buying them outright. There are a number of good reasons for going down this route. In fact, small to medium scale businesses will find copy machine leasing to be the smarter alternative than a full-scale purchase. This article will help you understand where you stand when it comes to making this decision for your enterprise.
Copier Leasing: The Benefits
- Leasing keeps your equipment up-to-date. Computers, copiers, printers and other tech equipment eventually become obsolete. With a lease, you pass the financial burden of obsolescence to the equipment leasing company. For example, let's say you have a three-year lease on a copy machine. After that lease expires, you're free to lease whatever equipment is newer, faster and cheaper. (This is also a reason some people prefer to lease their cars.) In fact, 65 percent of respondents to a 2005 Equipment Leasing Association survey said the ability to have the latest equipment was leasing's number-one perceived benefit.
- You'll have predictable monthly expenses.With a copier lease, you have a pre-determined monthly line item, which can help you budget more effectively. Thirty-five percent of respondents to the Equipment Leasing Association's survey said this was leasing's second-highest benefit.
- You pay nothing up front. Many small businesses struggle with cash flow and must keep their coffers as full as possible. Because leases rarely require a down payment, you can acquire new equipment without tapping much-needed funds.
- You're able to more easily keep up with your competitors. Leasing can enable your small business to acquire sophisticated office technology that might be otherwise unaffordable. The result: You're better able to keep up with your larger competitors without draining your financial resources.
Copier Leasing: The Downsides
- You'll pay more in the long run. Ultimately, leasing is almost always more expensive than purchasing. For example, a $4,000 copier would cost a total of $5,760 if leased for three years at $160 per month but only $4,000 (plus sales tax) if purchased outright.
- You're obligated to keep paying even if you stop using the equipment. Depending on the lease terms, you may have to make payments for the entire lease period, even if you no longer need the equipment, which can happen if your business changes.
Smart Copier Lease is definitely the SMARTER alternative to depend upon for your office’s copy machine leasing and MFP device requirements. Our customer reps will help you choose the best, most feature laden and value-for-money deal on copier leasing from our extensive product catalogue. Get in touch with us today!