Documents and the printers and copiers that handle them are central assets for any business. Deciding whether to purchase or lease equipment to meet the needs of your print environment can often be a little blurred. Both options offer both pros and cons. In the end, you want to make a decision that will fulfill your specific needs and wants. With the arrival of so many multifunctional devices, the printer industry has seen a lot of innovation. High-end printers and copiers take a big bite out of a company’s budget, and this doesn’t include the ongoing cost of printing supplies and maintenance. Leasing is often considered as a viable option when compared to buying office equipment.
Buying Office Equipment
One appealing view of buying vs. leasing your office equipment is the fact that if you own it, you can sell it whenever you choose and recoup a portion of your expenses. Buying also eliminates the existence of contracts and gives you the ability to choose your repair technicians.
The downside of buying is the initial cost of the office equipment, which can be quite hefty. Plus, when you buy, you acquire the responsibility of paying for all maintenance and repairs. Additionally, all good things must end, and eventually, you will need to replace the equipment once it becomes outdated. This means you’ll once again have to cover the upfront cost of the equipment, which can affect your operational cost flow.
Leasing Office Equipment
Leasing requires a low upfront cost and provides you the opportunity to upgrade office equipment as you need. This gives you the ability to embrace tech advancements while maintaining a modern office at all times. Plus, most leasing agreements include maintenance plans, which free you from the headache of scheduling and monitoring routine maintenance on equipment.
As with buying, there are cons to leasing your equipment, such as the price of leasing may ultimately cost you more than the price of buying the equipment. Additionally, if you experience changes within your organization that were unforeseeable, a lease agreement can prevent you from adapting to such changes.
When assessing your printer strategy, always focus on meeting your business needs. Contact us today if you are looking to purchase office equipment.