The decision to rent or buy a copier is no easy one. There are a lot of options, and the fact of the matter is that every business needs one. Leasing has its benefits, especially if you’re a small business without the capital to afford such a large investment. However, after reading this, you might find a way to make purchasing justifiable. Below are some differences between your two options.
Most commonly, leasing is the route business choose to take, with an industry average lease duration of 48 months. You get brand new equipment with the latest technology, and monthly payment gives your company budget consistency which makes upgrading easier when your copier is at the end of its leasing term. Additionally, it’s easier to negotiate a lease rather than a loan from a bank. This makes leasing the more attractive choice. Ideal Situation- companies with good credit, who want a low monthly payment, and who want brand new equipment and technology.
Renting is different from leasing because when renting a printer or copier, you will always get used equipment with outdated technology that costs more. However, this may not be important to some companies. Typically, rental contracts are much more flexible and less binding than a lease, thus having a higher monthly payment. Ideal Situation- companies who have mediocre/poor credit, are willing to accept used equipment, and just need basic equipment features & technology.
If your business has the capital to make a purchase of this size, than it removes negotiating a lease. You have complete control over what model you are buying, allowing you to shop around. And most of all, due to Election 179, your business can write off the entire purchase of the copier for that given year, giving your business a large tax deduction. However, buying is the industry’s least common choice. Reasons are, finance constraints, technology changes, less recourse and fewer model choices. Ideal Situation- companies who have flexible capital, want brand new equipment & technology, and want to utilize Election 179.
We understand that these decisions can be a tough choice and varies on a company to company basis. Here at Automated Business Products of Colorado Springs, let us guide you through this difficult landscape. Click here to use our easy printer pricing tool so we can better assist your needs.