Most businesses still need a copier. However, they can be costly and don’t last forever. An alternative to buying one outright is to opt for a copier lease. Which is right for you? A little more information can help you determine the answer.

Why Some Businesses Purchase Their Office Copiers

Plenty of businesses purchase their copiers, and they have good reasons to do so. For the most part, it’s a matter of money and freedom.

The biggest issue here is cost. Generally speaking, it will cost less to purchase a copier (even very high-end, multifunction copiers) than lease the same device for five years. On average, you expect this kind of equipment to require an upgrade every five years, so using that for your calculations, buying the copier can definitely save money over time.

Additionally, many used copiers can be sold. While they do depreciate over time, if you can sell your copier every time you upgrade, the money can go toward your new device.

Outside of money, there’s the freedom that comes with ownership. You aren’t tied to a contract. You don’t have anyone else telling you how to run things. You can do whatever you want with your copier.

When it comes to repairs and maintenance you don’t service your copiers when you lease them. Instead, the lessor provides all services. While that can be handy in some situations, it can also leave you waiting for assistance when the problem is simple, and you could quickly resolve it yourself.

Why the Majority of Offices opt for a Copier Lease

If owning a copier is so great, why do some businesses lease? In fact, why do so many businesses choose to lease? There are a few key answers, and they’re mostly related to cost, reliability, and ease of use.

Let’s start with cost. Purchasing your copier might be cheaper in the long run, but it requires a significant upfront investment. To put it simply, many businesses cannot justify tying up so much capital to purchase a copier outright.

There’s also the issue of attached costs. After you buy a copier, you have to maintain it, and that isn’t cheap. You need access to IT professionals to take good care of your expensive equipment. If you don’t already have that IT infrastructure in place, managing the printer will cost much more than the money you save by purchasing the hardware. When you lease the equipment, service is included in the contract.

Leasing can also be easier. While contracts feel complicated, once they’re locked in, you’re protected. Your lessor will take care of updates, upgrades, maintenance, and everything else tied to hardware care. You don’t have to learn about copiers and the market to make a new purchase every few years. Instead, you can lean on the expertise of the lessor.

And that’s one of the significant benefits. When you lease the copier, you get access to experts. They’ll ensure your device is secure and will make recommendations on how to deploy and manage it, saving you countless hours of learning and unforeseen expenses.

Copier Lease or Purchase? How to Determine a Good Fit for Your Business

There are clear pros and cons to purchasing and leasing, so how can you be sure you’re making a good choice for your business? You can boil it all down to five questions. Your answers will steer you in the right direction.

Can you afford the equipment right now?

If the answer to this is “no,” then the choice is already made. Sure, you could look into business loans or other financing options, but by the time you add interest to the price of your printer, your long-term costs are going to match the price of leasing. You’ll pay that extra with none of the benefits that come from a leasing contract. If you can’t afford the equipment, there’s an easy solution.

Do you already have the infrastructure in place to support it?

Even if you can afford the equipment, this question is essential. Can you take care of it? If you have to hire or contract additional IT support just for the new copier (or copiers), then you won’t save money by purchasing outright. It’s much easier to let the lessor handle it and simplify your ledger.

How often do you need upgrades?

This is not always easy to gauge, and you’ll probably want to consult some industry experts to get a clear idea. For your purchasing decision, the concept is simple. If you have to upgrade often, you’ll push the price of purchasing above the cost of leasing, and you’ll lose money. On average, you’re looking at upgrades every five years, but that can vary widely depending on the type of work you do and how you run your business. Do your homework. This question will determine the best financial option.

How efficient does your printing and copying feel right now?

This is a little different, but it’s important to understand. Many copier leases are part of a Managed Print Services agreement. That comes with a lot more than just the hardware, and it can audit and optimize all of your printing and copying. There’s a chance that these services can save you a ton of money. If you think your setup might be inefficient, it’s worth exploring the idea.

After answering these questions, you will have a better idea of whether you should buy or lease your copier. That said, you can still explore further. Contact Copiers Etcetera today in Mill Creek Town Center and talk to one of our experts. We can answer your questions and help you find the right printing and copying solutions for your business.