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Copiers are essential for any office environment. They allow you to copy documents quickly and easily, which saves you money and helps you stay on top of things. But when should you buy a new copier instead of lease one? Let’s compare the pros and cons of each option.
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SKIP THE LINE:
The Pros and Cons of Leasing vs Buying
When to Choose One Over the Other
Other Factors to Consider
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The Pros and Cons of Leasing vs Buying
If you’re looking to purchase a copier, there are pros and cons to each option. A leasing agreement typically has lower monthly payments than a loan, but the cost of ownership is higher. On the other hand, purchasing a copier outright will save you money in the long term, but you’ll pay more upfront.
Leasing is a good option if you need a high-quality copier with a low monthly cost. However, if you need a higher quality copier that will last longer, then buying might be better.
In our experience, 80% or more of businesses lease copiers vs purchasing outright. Leasing offers flexibility, easy upgrades, and less maintenance.
When Should You Choose One Option Over Another?
Leases might be a good option for those looking to save money. A leasing agreement usually lasts for a set number of years, after which you’ll need to renew the contract. This means you won’t have to pay for the machine upfront, so you’ll save money. It also typically requires less maintenance, as mentioned previously, which saves money over the long term.
However, there are some drawbacks to leasing. First, you’ll need to make sure you can afford the monthly payments. Second, you’ll need to find a reliable service provider who will keep the equipment running smoothly. Third, you’ll need to factor standard maintenance costs into your budget or add service into the leasing contract.
Related Article: Buyer’s Guide to Copiers, Printers, and MFPs
What Are Some Other Factors to Consider?
There are other factors to consider when deciding whether to lease or buy a copier. For example, if you plan to use the machine frequently, then buying might be better because you’ll be able to purchase spare parts as needed. Also, if you plan to sell the machine, then buying might be a better option because you’ll own the machine outright. Finally, if you plan to upgrade the machine, then buying would be a better choice because you’ll be able to purchase new features as they become available.
In conclusion, when deciding whether to lease or buy a copier, consider these factors:
- How much money do you need to spend on a new copier?
- What kind of copier will work best for your needs?
- Will you use the copier often enough to justify the cost of ownership?
- Do you prefer to pay monthly or annually?
- How comfortable are you with technology?
- Are you willing to commit to a fixed-term?
- Does your current office space allow for easy access to a copier?
- Do you plan to expand your business in the future?
- How much do you trust your vendor?
- How much downtime would you expect with a leased copier?
- Would you rather own a brand-name copier or one that is reliable and affordable?
- How much does your budget allow for a new copier?
- What type of warranty do you require?
The choice to lease or purchase a copier can be completely unique to your business needs. Want a customized solution? Not quite sure where to go from here and want to discuss your specific needs? Let the experts at Ford Office Technologies give you a hand at 1-800-633-3673 or by emailing info@fordtech.com
