Every decision you make in regards to your business, from the location, to whether to buy or lease your print equipment, affects your bottom line. When you’re ready to start shopping for a new copier, consider your budget, needs and business goals before making your final decision and be sure to consult with a reputable vendor who can offer both purchase and leasing options and will work within your existing budget.
Read on to learn more about the differences between leasing or buying your next copier.
Should You Buy?
The most obvious reason to buy your next copier is that you own it and are free to trade, sell or upgrade. For businesses that may experience significant growth or change in a relatively short period of time a copier that no longer serves their needs is of little use. The money spent on your original purchase is an investment, some of which you’ll be able to recoup when you upgrade, unlike a lease payment, which is gone for good.
Cash flow is a major consideration, as financing could tie up your funds, preventing you from financing additional purchases.
Should You Lease?
When you lease your copier you can easily upgrade every few years, allowing businesses that otherwise might not be able to afford the latest technology to enjoy the latest features. Small businesses who are challenged with cash flow can acquire much needed equipment without dipping into their funds because leasing doesn’t usually require a downpayment. Budgeting becomes much easier with a predictable monthly expense.
However, if your business experiences a period of growth and you no longer need the equipment, you may still have to continue to make payments, depending on the terms of your lease. Removal fees at the end of the lease take many unsuspecting businesses by surprise.
There’s no right or wrong answer when it comes to deciding whether to lease or buy your next copier, as both have their merits. So how do you choose? Base your decision on which path will best help you meet the short and long term goals of your company, working closely with your sales representative to make sure you stay within your budget.