It is possible to rent office equipment like copiers. For small businesses with equally small budgets, this can be an attractive option. However, most small business people – and people in general – are opposed to wasting money if it can be avoided. It can be tough to figure out which is the better option.

When it comes to situations like these, it’s time to break out the pros and cons list.

 

Renting

Pros:

  • Cheap Upgrades – Technology becomes obsolete fast. If it’s important to you to always have a top of the line machine, renting means that you don’t have to pay thousands of dollars every time a new model comes out.
  • Smaller Immediate Expense – If you’re strapped for cash but need a copier now, renting might be your only option besides going to a print shop.
  • Easy Removal – When you want a different copier or don’t need it anymore, you don’t have to sell it if you rented. The company will remove it for you.
  • No Repair Costs – Though many copiers come with a warranty, if you decide to rent long term, you’ll probably never have to worry about repairs (unless you do something like spill your entire Vente latte directly into the paper feeder). Most rental companies have the cost of any repairs built into the price.
Rent Buy Compass

Cons:

  • Money Waste – As with any time you rent rather than own, you have to pay that rental price forever. Eventually, it’s going to outpace what you would have spent if you had just bought one.
  • Replacing Lemons – A defective copier that breaks down often can be harder to replace with a leased copier. It might be difficult to convince the rental company that it’s a lemon, and you’ll have to deal with waiting for multiple repairs.
  • Paperwork – Dealing with leasing companies can involve a lot of fine print, and you may have to document how often the copier is used and fill out paperwork any time it needs repairs.
  • Interest Charges – These depend on your credit rating and can often be higher than financing a copier.
  • Monthly Minimums – Some rental companies will charge you extra if you exceed a certain amount of copies in a month. This can get expensive fast!

 

Buying

Pros:

  • Save Money Over Time – Many companies can hang onto their copiers for several years before it needs replacement. Buying would save them a significant amount of money overall.
  • Your Copier, Your Rules – It’s your machine and you can do whatever you want with it. You don’t have to wait for the leasing company to send a repair technician – you can call whoever you want. And you don’t have to sign any contracts.
  • No Minimums – Print whatever you want, as much as you want.
  • Warranty – As long as you didn’t void it, the warranty that should come with any copier will allow for easy replacement of a defective unit.
  • Selling – If you want to replace a working copier, you can always sell it for some extra cash.

Cons:

  • High Initial Cost – A big piece of equipment like this can put a big dent in a monthly budget. You may have to save up, which can be a problem if you need one right away.
  • Expensive Upgrades – Even if you have a long warranty, copiers can become outdated in just a year or two. If you want the best, it can be really expensive to replace a copier this often.
  • Maintenance – Since the machine is yours, you’re going to want to put more effort into making it last as long as possible. This means regular cleaning and making sure to hire repair techs who know what they’re doing when something breaks.
  • Removal – If your copier dies completely, you’re going to be responsible for moving that big piece of junk to the recycling center.