Should You Buy or Lease Your Office Photocopier?
Nowadays, photocopiers also serve as printers, scanners, and fax machines, making them an essential piece of office equipment. This is why many businesses don’t have to think twice about obtaining a copier. The only question is whether you should lease a machine or buy your own.
Leasing a Copier
Leasing a photocopier involves a contract that allows you to keep the machine for 3 to 5 years. The leasing company will cover repair and maintenance costs while you use the machine. When the lease expires, you can return the copier or exchange it for a newer model when you decide to renew the contract.
Many businesses prefer this arrangement as it requires very little cash up front. Leasing also gives you access to high-end models that would otherwise be out of your budget range. The equipment upgrades you can receive every few years are also very attractive.
The biggest downside to leasing is probably the paperwork: your company’s financials will be examined minutely before the contract is finalized. Leasing may also be more expensive in the long run due to the fees and interest rates you have to pay.
Buying Your Own Copier
Buying your own photocopier is a straightforward process: you find a machine that will meet your company’s needs, you pay for it, and you take it to your office. The equipment will belong to you, so you’ll have full control over its functions and maintenance, and you can keep the copier for as long as you need it.
The main problem with buying a copier is that you need to shell out a large sum of money all at once. A good copier can cost anywhere from $8,000 to $10,000, and some small businesses can’t afford that. You also have to acknowledge the risk that the quick turnover of technology may make your machine obsolete in just a few years.