Sometimes, it’s easy to think that the office world runs on coffee and doughnuts. But there’s another essential ingredient: the office copier. Take a look inside any Washington business, and chances are you’ll find at least one copier churning out stacks of reports, memos, and brochures. Even in an age where digital technologies are supplanting traditional media and methods, copiers remain an important part of business workflows throughout Washington and the rest of the world. After all, today’s copiers are multifunction devices capable of scanning documents, printing documents, and even making faxes. Surprisingly, most Washington businesses prefer a copier lease over a purchase. Read along and find out why, plus find out which option works best for your business.

Buying Office Copiers: The Benefits for Some Businesses

Not every Washington business is the same. For some, buying office copiers outright simply makes sense. To understand why, here are a few advantages that an outright purchase can give your business, especially if you own a small-to-medium business (SMB) or a fledgling startup:

• Little to No Red Tape – For some SMBs, securing a copier lease may involve mountains of paperwork, lots of detailed questions, and lengthy delays. Some leasing companies may even micromanage where and how you can use your equipment. An outright purchase cuts through this red tape, making it quicker and easier to upgrade your copier fleet.
• Lower Upfront Costs – In the long run, buying your own copier can prove less expensive than a lease. Not only do you pay for your copier immediately in a lump sum, but you can also recoup your investment later by selling the equipment or donating it for a tax break.
• Contract-Free – With most leases, you’re locked into a contract that could turn unfavorable as time goes on. Purchasing your copier gives you more freedom to make solid financial decisions without having to worry about terminating a lease early.
• Maintenance on Your Terms – Most copier leases require businesses to maintain copiers according to their schedules and standards, which could be potentially expensive in the long run. Buying your own copier means you can determine your own maintenance schedule.

Of course, these benefits come with their own set of downsides. For example, handling your copier maintenance can be complicated if you have a large device fleet or if an upturn in business leaves your office short on staff. The initial outlay for a new copier is also more expensive than starting a new copier lease.

Why The Majority of Offices Prefer a Copier Lease

Despite the advantages of purchasing, most Washington businesses lease their office copiers. That’s not surprising considering the benefits of a copier lease:

• Lower Cost of Entry – A copier purchase can take a big bite out of an SMB’s budget. With a copier lease, those businesses can reserve their cash for other expenses and enjoy lower monthly payments. For many, copier leases are considered long-term rentals with a lower upfront cost.
• Frequent Equipment Upgrades – Copiers tend to age more like sour milk than fine wine. In other words, copiers can become outdated as the years roll on. A copier lease lets you upgrade your fleet every few years instead of being stuck with obsolete equipment with a low resale value.
• More Choices – With a lower upfront cost, you’ll also have a bigger budget which you can use to select a better copier model with more features.
• Minimal Credit Impact – Unlike traditional lines of credit, debts stemming from leases aren’t reported to financial institutions. This can give your Washington business more leeway if you’re just starting out.

Like buying an office copier, leasing one also comes with its pitfalls. Copier leases accrue interest that has to be paid along with the principal, making a lease more expensive as time goes on. Not only do some businesses overpay when it comes to the actual lease, but they also overpay for maintenance plans often obtained through the leasing company.

You’re also locked into a contract, which could affect how your business performs financially and productivity-wise. For example, you could end up paying dearly in termination fees and various other service charges if you need to upgrade your copier early. This could happen if your Washington business suddenly grows from 10 people to 100 people in a short amount of time.

If you need to terminate a copier lease early, you may end up paying hundreds of dollars in fees and penalties. To make matters worse, some leases require you to continue making payments throughout the lease period even after returning the equipment early.

Determining Which Choice Is Best for Your Business

There’s no cut-and-dry answer when it comes to purchasing vs. leasing a copier. It all depends on which option brings the most value and utility to your business. There are a few questions you can ask of your business before making the big decision:

1. How big is your business?
2. How soon do you need a new copier?
3. How much space can you spare?
4. Does a department really need that copier?
5. Can you afford to terminate a lease early?

There are also tax implications to consider. Like most of your other office equipment, copiers are also depreciating assets. Buying or leasing equipment could impact your ability to take tax deductions for them. You’re better off consulting with your accountant or tax professional before making your final choice.

Most Washington businesses enjoy the numerous advantages that a copier lease offers, but purchasing a copier outright can also benefit your Mill Creek business under certain circumstances. If you’re unsure whether a copier lease is the way to go, contact Copiers Etcetera today, and one of our sales specialists can walk you through your options.