Assess your printing and copying requirements
Depreciation of purchases can provide tax benefits
To decide between leasing and buying, it's important to compare total costs over the useful life cycle of the equipment. Major factors to include in the cost analysis:
These steps will help you make an informed decision about the best copier or MFP to suit your needs.
Rental terms for copier/MFPs:
Many companies have found leasing to be a very popular option. Leases are based on a fixed monthly payment that covers the use of equipment for a specified period, such as 3 to 5 years. You can either return the equipment at the end of your lease or buy it.
Considerations when evaluating a copier/MFP lease:
Benefits of copier/MFP leasing include:
Fill a temporary equipment need or gap in coverage
Paper capacity - Input and output trays able to hold 500-3,000+ sheets
When buying copiers or MFPs, consider the following factors:
Lease fees often include maintenance and supplies
Ability to upgrade models during the term
No long term commitment required
Choose a provider and negotiate the final agreement
Compare models before making a long-term purchase
Choose the Right Business for Your Business
Page Volume Allowances and Overage Fees
Get training on the new equipment
Purchasing equipment can be advantageous for businesses that have a steady demand for printing.
Technology can be upgraded more frequently
Lease payments are made monthly
Service and supplies bundled into rental fees
Response time and uptime service guarantees
Add up all the costs for buying and leasing over a period of 3-5 years to determine total ownership cost. This allows you to compare the two options over a similar term.
Cash Flow - Leasing offers predictable payments; buying may impact cash flow with large initial payment
Steps to Lease a Copier or Printer
Ongoing maintenance and supply expenses
Usage volume requirements and capacity
Considerations to make when purchasing a new multifunction printer or copier:
Power consumption - ENERGY STAR ratings to help reduce costs
When evaluating a lease for a MFP/copier, there are several factors to consider:
Purchases or Down Payments - Costs upfront
Minimize costs when needs are only short-term
Lease vs.
If you only need equipment for a short period of time, such as a few weeks or months, renting may be a better option than leasing or buying. Copier rentals are available on a monthly basis with flexible terms.
When purchasing copiers, printers, and MFPs, it helps to:
Maintenance and supply costs
Page volume allowances and overage fees
Supply/consumables costs
Call for service promptly when problems arise
It is important to consider the following when purchasing copiers, MFPs and printers:
For sporadic needs, short-term rentals provide access to equipment without a major investment. Rental costs are generally deductible as a business operating expense as well.
Pages per Minute (PPM) is the measurement of print and copy speed.
Compare lease offers from different providers, negotiate terms, and consider refurbished or lower-volume models for affordability.
Research and partner with reputable copier suppliers or leasing companies known for offering high-quality, reliable copiers.
Leasing offers benefits like lower upfront costs, maintenance included, flexible terms, and easy equipment upgrades.