The success of your business lives and dies through the financial decisions made, such as the advantages of leasing or purchasing an office copier or printer. As a business owner or purchasing manager, your financial decisions must be sound, stay within your operational budget, and make maximum profit.
Whether to lease or buy your office copier is a huge decision. The bottom line is that even if you have the extra capital, there are still distinct advantages of office copier leasing for your business.
If you've been teetering on the edge of whether to lease or buy, you’ve come to the right place! We’re going in-depth on the benefits of leasing an office copier and how your business can benefit most from doing so.
Office Copier Leasing: What’s In It For My Business?
Regardless of what product or service you’re purchasing for your office, it’s always a good idea to have options. But when it comes to office copiers, the possibilities might seem endless. Not only are there many products to choose from, but also how you wish to pay for them.
The advantages and disadvantages of office copier leasing specifically pertain to your business's requirements. However, there are a few advantages that we feel can benefit just about any business, large or small.
Leasing Your Office Copier Requires Less Upfront Capital
One of the most essential advantages of leasing copy machines is that less upfront capital is required. This option is most helpful regardless of whether you have the cash on hand.
- No Down Payment. When you lease a multifunction printer, there’s typically no down payment required. This means you virtually do not need any money when signing the lease or service level agreement (SLA). The need for little to no cash allows you to obtain the equipment your office needs when you need it.
- One Monthly Payment. Instead of paying for the entire machine upfront, leasing allows you to make monthly payments. Monthly payments help manage cash flow and ensure your business operates within a set budget.
Leasing a copy machine also allows you to allocate capital towards other areas of your business that are in greater need, allowing you to reap the benefits rather than being tied up in a piece of equipment.
Imagine for a moment that you use all of your extra capital to purchase a copier, and then, down the road, a business expense emergency comes up. Unfortunately, your safety net is gone in this instance, and your company is now in a jam. Leasing helps prevent these types of occurrences.
Tax Advantages of Copier Leasing
As a business owner or manager, you know your company can use every tax break you can get. Leasing an office copier offers great tax benefits to your business, which are more advantageous than purchasing the machine outright.
When you lease a machine, you can count the payment as a pre-tax business expense. This means you can deduct the entire payment each time! How nice is that?
Stay Up-To-Date With the Latest Technology
You probably know from experience that technology quickly becomes obsolete, such as buying cell phones or computers. We've all been in a situation where you’ve purchased a new cell phone, and, at the time, it was the latest piece of technology on the market.
However, a better version was released in only a few short months. Technology changes fast, and the same holds true for multifunction printers and copiers. In our ever-evolving technology world, new models are constantly being released.
When you think about it, upgrading office copiers might not always be financially wise if you’ve continuously purchased them outright. In most cases, you’ll lose a substantial amount of money.
The most beneficial way to receive a return on investment when buying an office copier is to pay off the machine and keep using it. This option, however, can be frustrating if your business benefits from staying up-to-date with technology.
Leasing office copiers allows your company to upgrade more often without losing money because you won’t have much capital tied up in the equipment.
Another consideration is that since you don’t actually own the equipment, the office copier leasing company might allow you to upgrade your devices if you’re eligible or your contractual obligations are met.
Eliminate Financial Responsibility When You Lease an Office Copier
A significant investment is just the beginning of a potential financial burden when purchasing a copier machine. Once the warranty ends, all needed repairs and maintenance are your financial responsibility. This can quickly become costly if something significant happens to the machine.
When you lease multifunction printers, you do not own the machine. So, any regular or routine wear and tear isn’t your responsibility.
If an employee takes a baseball bat to the glass of the copier, that is a different story— and more than likely results in your business footing the bill for damages. However, routine servicing is also part of the price negotiation when leasing the machine.
Leave the Hassle of Repairs and Maintenance to the Experts
Chances are, neither you nor your employees are experts in copier repair and maintenance, which you aren’t supposed to be anyway! There are much more productive tasks your staff can and should be doing with their time.
When you lease an office copier, you don’t need to worry about repairs and maintenance. If your machine malfunctions, just contact the company leasing the machine, and an experienced technician will take care of the rest.
As a business owner, you have more than enough on your plate with the company's day-to-day operations—you don't need to learn how to service and repair multifunction printers! Let the experts handle it.
When it comes to maintenance, most companies set up a routine maintenance schedule with your business to ensure all of your office copiers are in proper working order. If you're worried about the interruption of work for maintenance, don't be.
The office copier leasing company will work with you to set up times that work best for your business and interrupt productivity the least.
What's Next? Saving Time and Money By Leasing Your Office Copier
Leasing office copiers is a financially sound decision for any business, whether it is strapped for cash or bringing in cash hand over fist.
The decision to lease requires less money, offers a larger tax deduction, allows staying up-to-date with the latest technology, eliminates the financial burden of repairs, and saves your business time on maintenance.
Remember that just because your business has the capital lying around doesn't mean you should spend it if you don’t have to. Frugality in the business world is the key to your company's long-term success.
