Weighing Out Your Options When It Comes To Multifunction Printers
Should You Buy or Lease? – What Is the Right Option for Your Office Equipment
It sounds like a simple decision. Buy your tech equipment or lease it. The consequences of choosing one over the other, however, have a big impact on your business’s budget. You need to put thought into your decision to buy or lease a multi-function printer. The key factors that you should consider include:
- The total cost of ownership
- Factor in the cost of the machine up-front in addition to the cost of ink and toner cartridges, print supplies and the price per copy
- The cost of printer cartridges as compared to manufacturers, the lifetime of the ink, and remanufactured versus OEM
- The cost of service calls, service contracts, etc.
- Warranty or Guarantee of Lease Terms
- Length of Ownership of the Equipment
To summarize, the pros and cons of buying or leasing are as follows:
- Lower yearly costs versus leasing
- Great for the long-term
- No complicated leasing fine print
- Cost can often be tax deductible
- Need capital to purchase
- Costs are not set
- Low up-front investment
- Get newer equipment
- Has a predictable monthly cost
- Long-term lease costs add up
- Must review terms to cover insurance, permissible buy-outs or early terminations
- Leased equipment may not be deductible
Your first step to deciding based on these pros and cons is to select the machine right for your company needs. A consultant that can track these strategic statistics can help. After finding the right printer, decide to buy or lease it based on the amount of capital you have available, amount you can opt for monthly payments and your future plans.
If you wish to upgrade it in the near future or you may want to have capital available to allocate to another purchase you will probably want to lease the equipment. If you have the capital ready and plan to hold onto it for a while, buying it might make better sense for you.
Whenever you consider leasing equipment, always read the fine print carefully. Leasing agreements usually include supplies and service plans. If you lease, you might also be required to insure the machine. This is an additional cost you have to factor into your decision. You also may not be able to deduct the expense of the lease from your taxes. If your lease is short term, what will happen when you do not need the printer? Are you going to be paying on a lease for equipment you are not using?
Buying may make sense if you have available capital. It also works for managers or owners who want the item for the long term. Some people believe you cannot get a service agreement when you purchase a multifunction printer in Houston, but the truth is that you can usually always purchase a service agreement for the life of the machine. You can also get a service agreement for your entire printer fleet. Service agreements give you supply benefits, service during emergencies and also preventative maintenance.
Contact or call the professionals at Advanced Business Copier if you want or need assistance in evaluating your printing needs based on statistics. A consultation can help you decide if buying is better for you than leasing. Consultants can make recommendations that will help you make the best choice for your office’s new equipment.