Copiers are powerful machines in your printing environment so you may wonder, is it better to lease or buy a copier? ACT Group (A BDS company) can help you determine whether a lease or purchasing a copier is right for you by exploring the pros and cons of each option. Remember to partner with a trusted leasing company when investing in equipment. A trusted print partner, like ACT Group (A BDS company), can adequately assist you with your printing needs.
Benefits of leasing a copier
Leasing a copier for your business is a popular finance option for a variety of reasons. Businesses primarily invest in copier leasing for their print environment because it is a more financially affordable option. Every business benefits from keeping a solid budget in place, and copier leases help many businesses stay within that budget with flexible lease payments, lease terms, and a flexible leasing agreement.
When you lease a copier with ACT Group, you receive the following benefits:
- Flexible lease period/terms
- Low monthly payments
- Ability to upgrade equipment
- Ability to purchase copier outright after the lease period
- Tax deductions as a business expense
When you lease a copier, you are also likely to pay a smaller upfront cost for your equipment than when you buy. You can incorporate high-performing equipment with supply replenishment, regular maintenance, and service for one fixed monthly payment. Both small and large organizations benefit from leasing copiers. Lease payments are also tax-deductible, which makes leasing perfect for businesses who don’t want to worry about depreciation of owning a machine.
Cons of leasing a copier
Sometimes, better choices may exist than leasing a copier for your business. The following cons include:
- You may end up paying more money over time
- Lease agreement may be too restrictive for some businesses
- No ownership of the equipment
As you can see, leasing a copier may not be suitable for everyone, so it’s essential to accurately evaluate your printing needs and incorporate solutions catering to them.
Benefits of purchasing a copier
Buying a copier might be the right option for your business, should your budget allow it. Purchasing a copier outright will often include a higher upfront cost. However, you may save more money over time by avoiding interest fees. The following benefits of buying a copier include:
- Spend less overtime
- Depreciation write off
The first benefit of purchasing a copier is that you own the equipment, which means you have control over the maintenance, servicing, and upgrading of your equipment. For some businesses, this may be overwhelming. For the right business, this option could be a game changer to your print environment.
Furthermore, leasing often involves a lot of fees, including maintenance and interest. When you purchase your equipment, you are eliminating extra interest and payments on your equipment. Finally, when you purchase a copier, you can deduct appreciation for tax benefits at the end of the year.
Cons of purchasing a copier
Although ownership and control are enough of a reason for some businesses to invest in buying a copier, it’s not the case for all. Here are some cons to be aware of prior to purchasing a copier:
- Upgrading your equipment when you own it can be costly
- Outsource equipment maintenance on your own
- Risk of using outdated equipment
- Higher out-of-pocket expenses
For businesses just starting, there may be better options than purchasing copiers. As you grow and expand, your copier needs will also change. The last thing you want is to use outdated equipment so you can avoid this by leasing.
Additionally, when you own, maintaining and providing supplies for your equipment is your responsibility, which may not work for some businesses.
Overall, deciding what will work for your business comes down to your industry and the business’s unique needs and requirements. If you need further assistance determining which option is correct, request a quote today, and we will connect you with a BDS representative!