So, your company needs a new copier, but you’re struggling with one question—should you buy or lease the copier? If you don’t know the answer, you’re not alone. When most business owners learn how much it costs to lease a copy machine vs buying one, it makes the decision difficult. Here are a few things you should consider.
Buy or Lease Copier Equipment: Which Is the Right Choice?
Some organizations can get away with simple copiers for their document needs. Copiers that deliver basic functionality usually only cost a few thousand dollars. In this case, it would make more sense to go ahead and buy the equipment. However, if your business regularly scans, faxes, copies, and prints documents, then a simple solution won’t cut it.
For companies that need a multifunctional machine, the decision between buying and leasing is a little more complicated, but in the end, it all comes down to the needs of your business. Knowing the advantages and disadvantages can help you determine what’s right for you.
The Advantages and Challenges of Buying
If you’re looking to buy the copy machine outright, here are a few pros and cons to keep in mind:
Advantages
- Contract Free: Since you are buying the equipment, there are no contracts for you to be attached to. However, it’s likely you may still need a maintenance contract.
- Ability To Resell: If you own the hardware and it’s still in good condition, you can try to sell it when you’re ready to upgrade.
- Tax Deductibility: Depending on the circumstances, purchasing office equipment like this can be tax deductible.
Disadvantages
- Ballooning Costs: Sometimes buying a copier can come with additional unforeseen costs, like paying for maintenance. This could cause the machine you’re considering to be outside of your budget.
- Higher Upfront Costs: The upfront cost of a copier may be too high for some companies. This could cause your lines of credit to be tied up and keep you from buying other things your company needs.
- Eventual Disuse: Although the equipment is new when you purchase it, it won’t stay that way for long. Overtime, the copier is going to become outdated.
The Advantages and Challenges of Commercial Copy Machine Leasing
Office printer leasing is different from buying because you don’t actually own the machine. This offers a few notable benefits and drawbacks:
Advantages
- The Latest Hardware: When your lease is over, you can swap out the old machine with something newer. This approach allows you to avoid it becoming outdated.
- Lower Upfront Costs: Copiers can be expensive. Leasing gives you access to the copier you need without having to pay an arm and a leg.
- Maintenance: Maintenance falls on the owner of the machine. Since you’re not the owner, maintenance is taken care of for you by whoever your provider is.
- Predictable Budget: From month to month, you know exactly how much you’re going to spend on your copier.
Disadvantages
- Contract Lock-In: Leasing requires you to be in a contract with the provider, which may feel a little restricting for some companies.
- It’s a Rental: You don’t actually own the machine you’re leasing. As a result, you can’t resell it when you’re done with it.
What Should You Do?
Now that you’ve seen the advantages and disadvantages, do you have a better idea of which option is right for you? While there are benefits for both, more often than not, leasing tends to be the best choice for most businesses. Through leasing, you can stay up to date with the latest technology, save money, and avoid the hassle of dealing with maintenance.
How Much Does It Cost To Lease?
Unfortunately, there’s no definitive answer for how much it costs to lease. The answer depends on what equipment you choose and the provider you’ve partnered with. However, when you compare the upfront costs of leasing and buying, leasing is always the more economical choice.
Start Leasing Today
If you want the latest and greatest copier equipment at a low price, start leasing with Americom. We offer a variety of high-end machines to choose from. We can help you find the right copier for your documentation needs.
Contact us today to learn more.
