Many businesses, no matter the size, need a copier in order to run their day-to-day trade. One question we often get is, “should I buy or lease a copier?” Usually, the answer isn’t a simple “yes” or “no”, since every business’s needs and budgets are different. In this article, we’ll discuss the pros and cons of each choice.
Buying vs. Leasing – What’s the Difference?
When your business purchases a copier outright, whether it’s new or refurbished, your business is responsible for the copier from day one, from regular maintenance to repair costs. When your business leases a copier, the maintenance is pre-determined, and the lease ends at an agreed-upon date.
Pros and Cons of Buying a Copier
The largest benefit a business sees when buying a copier is cost. According to Business News Daily, over the long run, it is often more cost-effective to own your own copier outright. Other benefits include flexibility in maintenance scheduling, no contracts, and the ability to sell the used equipment if desired.
The largest drawback of purchasing your own copier is owning outdated equipment. Technology moves fast, and it’s often not cost-effective to purchase a brand-new machine every one to five years (the typical length of a lease). Entrepreneur.com also notes that the upfront cost of purchasing brand new office equipment is often too much for some businesses.
Pros and Cons of Leasing a Copier
The largest benefit of leasing a copier is convenience: your business will not have to worry about out-of-date equipment, or scheduling regular maintenance. Additionally, the upfront cost is much lower than purchasing a new copier outright.
On the other side of the coin, however, is the fact that leasing will cost your business more money in the long run. Business News Daily states, “At the end of a lease term, most lessees will have paid more than the actual value of the copier.”
Request a Free Quote Today
As Houston’s largest copier retailer, OnDemand Business Equipment can guide you through the decision making process of buying vs. leasing. We are a proud Houston company and look forward to working with you. Request a free business copier quote today!