If you’re in the market for a new copier, the first question often asked is “should I buy, or lease?” The answer isn’t that simple. It depends on a number of factors that you need to define, such as your company goals, needs and budget.
Here are a few things to consider before you make a decision:
Leasing Your Copier
Technology changes rapidly. Leasing allows the opportunity to upgrade your technology every few years. Upgrades mean improved efficiency and productivity as well as energy and cost savings.
Leasing is a bit more expensive than purchase in the long run, but you’re getting new, more efficient technology every few years. With predetermined lease payments, you’ll have a predictable expense which can help with budgeting. And because leasing often does not require a down payment, small businesses who are struggling with cash flow can acquire much needed equipment without dipping into their funds.
Buying Your Copier
The main benefit of buying a copier is you own it. You’re not tied to a lease agreement or stuck with the machine if your needs change. Since you can sell at any time, you can recoup a portion of your investment. Purchasing your equipment will also give you a write-off that can help your company with this year’s taxes.
However, purchasing may require financing, which in turn could tie up your cash flow in the short term, making it more difficult to finance other expenses. When you no longer have a need for the device and want to resell it, you may find that it doesn’t have the same value that it once did.
The bottom line, there are advantages to both leasing and buying your next machine. It all depends on your business needs and goals. Give us a call and we’ll help you determine which option is best to meet your business objectives at a convenient price point.