Lease or Buy a Business Copier: Which is Better?
Almost all businesses require at least one copier in the office for paperwork. Managers face the dilemma of whether to buy or lease a business copier machine. That should depend on the needs of the business, its nature, and its goals.
All these aspects should be considered before deciding because the goal is to save money, provide the employees with the best machines and latest technologies, and keep the workflow consistent. With that being said, we present some tips to aid in your decision-making process.
The first aspect you should consider is your budget and how much you are willing to pay for a copier. If you decide to buy a copier, you will pay thousands of dollars upfront. Whereas if you lease one, you will spread out the payments throughout the period of the contract. Some people hesitate because of the interest rate; however, the extra percentage you will pay is usually low. The truth is, you probably won’t even notice it.
When you own a copy machine, you will be the one responsible for delivery and installation which will add up to the overall cost. On an important note, you should not go for used copiers. You will likely spend more on it than its actually worth. Its life may be short as well, and you will need to change it after a couple of years of use.
Another point to look at is whether you need to have more than one copier. You don’t want your employees waiting in line for hours to print or copy documents. They will spend time in a queue more than doing their job, so productivity levels will decrease. That being said, if you purchase multiple machines at once, your budget will be eaten alive. Additionally this may leave little to no money for any other upgrades. That’s why a lease may be a better option, as you can pay at your own pace.
Repairs and Services
Your worst nightmare will be when a business copier breaks down or runs out of ink in the middle of the day. If you own the machine, you will be the one responsible for arranging the repairs. Not to mention, later on, the time-consuming maintenance. On the contrary, copier leases include repair services and monthly toner supplies. With all this in mind, the technicians at https://www.flatratecopiers.com/ stress on the importance of dealing with a company that offers same-day services and has excellent customer support. Often, you will have to wait on the phone for someone to pick up or wait for days for a team to fix the copier. A reliable supplier and a clear contract that states your rights are crucial, especially in emergencies.
Some people prefer owning things to be free to do whatever they want with them as they don’t like to have any restrictions. Many also think of it as an investment. However, the lifetime of a copier ranges from three to five years, and its value depreciates over time. Moreover, new technologies emerge every couple of months. The evolution of a business depends partially on being up to date. It’s crucial to keep up with competitors without draining financial resources.
Since business owners may not have the luxury of buying another machine every year, they will be stuck with the same old systems for some time. On the other hand, when you lease a business copier, it is hassle-free to keep up with the updates because you are no longer bound by money. One of the downsides of wanting new technologies before the end of the contract lease is that you may have to pay all of the money for the agreed-upon duration even if it didn’t end yet. You will keep using the one you have until the contract expires, or you will have to pay the penalty.
When you buy a machine, the government will consider it a taxable personal property, just like owning a car or a property. On the other hand, a copier lease is tax-deductible, which will reduce the amount that you will have to pay to the authorities. Either way, you will have to consult an accountant to help you reach the best option.
A copier is necessary regardless of the kind of business you run. Almost every office has papers and documents to print or copy for legal and financial purposes. That’s why you should consider the advantages and disadvantages of buying or leasing a machine. You should keep in mind your budget as well as the employees’ comfort and productivity to help your business thrive.