Ownership - With buying you gain ownership; with leasing the equipment remains the property of the lessor
When leasing a MFP or copier, you should consider:
Read customer reviews and ratings online
Leasing is less expensive upfront than buying, but you must pay the entire price upfront.
Use recommended maintenance and duty cycle schedules
No commitment needed
If you analyze these differences in relation to the specific circumstances of your situation, it will be easier for you to determine whether leasing or purchasing makes more sense financially and operationally.
Get quotes from 2-3 authorized dealers at minimum
Schedule delivery and installation
Taking these steps allows you to make a well-informed purchasing decision on the right copier or MFP for your specific needs.
The perfect lease will fit your current and future usage levels, while also providing your business with the services and capabilities it needs. Working with an authorized dealer who is knowledgeable about your business environment will help you structure the best lease agreement.
Update firmware and drivers
SLA uptime guarantees - Ensure adequate response time and uptime
Lease structure can have tax benefits
Find the best models and sellers in your price range
Renting, Buying, or leasing a multifunction printer?
No recurring lease costs to contend with
When you buy, the equipment becomes yours; when you lease it, the equipment is still the property of the lessee.
Factors to look at when buying copiers and MFPs:
Upgrade or extend rental period as needed
The shortest time between 1-3 months
Customer reviews and ratings are available online.
Test equipment before purchasing.
For businesses and organizations needing new document imaging equipment like photocopiers and multifunction printers (MFPs), there are three main acquisition options: leasing, renting, or buying. Each approach has pros and cons to consider based on factors like costs, equipment needs, usage levels, and long-term goals.
Get a discount on your purchase or ask about financing options
Sign lease contract and make any initial payments
Coverage for service and maintenance
ENERGY STAR ratings can help you reduce your costs.
Get quotes from several providers
The following are typical steps for leasing a copier or multifunction device:
The Right Choice for Your Business
Clean spills immediately and use dust covers
Supply/consumables costs
Handle a special project or overflow workload
Delivery and installation schedule
If applicable, buyout options are available at the end of the lease term.
Length of lease term - Typically 3-5 years; can be shorter or longer
Allowed print/copy volume - Per month and over term; overages usually cost more
Request quotes from multiple providers
Lease term length - Typically 36-60 months
Monthly duty cycle - Total monthly recommended print volume
Select a model that meets your current and future printing and copying requirements.
Tax Treatment: Lease payments can be claimed as an operating expense. Purchased assets may also be depreciated.
Ensure the lease aligns with your business needs, choose the right leasing company, and maintain the copier properly to maximize its utility.
One cost-effective option is leasing copiers instead of purchasing them outright. Leasing spreads costs over time, includes maintenance, and allows for easy upgrades.
Opt for a fair market value lease, consider energy-efficient models, negotiate service agreements, and assess your true copier needs to save costs.