Copiers- is it better to buy or lease
Pretty much of the documents and business communications should be in print. This means that you shall need it at some point in your daily business activities. The question is if you would like to buy or lease the equipment. Which is better? Let us look at both sides of the equation.
- You use up-to-date equipment
Technology is so dynamic nowadays. The state-of-the-art copier that you had bought a few years ago may have been overtaken by newer and better technologies. With leasing, you pass the burden of keeping up with the new technologies to the equipment leasing company.
- Predictable expenses
When leasing your equipment, you have a pre-determined budget every month. This comes in handy when you do not have a budget for new equipment. There is no upfront payments like you would find when buying equipment.
- Sometimes, it is more expensive
Leasing is more expensive to lease a copier than to purchase it. The problem is complicated by the fact that you do not own the equipment even after making all the payments.
- You can pay for the equipment even when you do not need it
Most of the lease terms dictate that you continue paying for the equipment through the entire lease period. This means that6 you will still incur the cost of the equipment even if your business happens to change.
Buying: The benefits
- It is easy
Buying a copier is outright. You decide what you need, head to the market and purchase it. Leasing require lots of paperwork and keeping up with many lease terms. The leasing company still has control over the equipment and its work.
- You decide who maintains your equipment
In leasing, the leasing company dictates how the copier is to be maintained. This may be too expensive or may not be what you want. However, if you own the equipment, you decide on when and who maintains your equipment.
- The initial cost of the equipment may be too high
You may tie up sources of credit trying to get quality copiers for your business. You may end up buying poor quality copiers if you do not have the money.
- You can get stuck with outdated equipment
The technology gets outdated quickly. More efficient and better copiers might overtake the copier that you buy in a short while. If you want to upgrade, you will be forced to sell and buy another one.
The options you pick depend on your current situation of your business. You may pick the option that appeals to you the most.