READ TIME: 4.5 MINS.
Should you buy or lease your next office copier? Ever heard the saying, "The devil is in the details?" Well, this famous saying applies to your business processes and strategies, and how your office technology operates, such as your office copiers.
As a business owner or even an office manager, part of your responsibilities includes being financially savvy while making sure your staff has the equipment needed to perform their jobs efficiently, such as an office copier.
You've probably put a great deal of thought into the phone system, computers, and the management software, but what about your office's copier? With so much online technology these days, the thought of an office copier may seem outdated. Before you subscribe to this train of thought, take a journey with me.
It's the Digital Age, Why Does Your Office Need a Copier?
Let's say your staff has prepared a huge presentation for potential investors about the newest product. You've all spent countless hours making sure every last word is just right. It's great that you have a massive monitor in the front of the room on which to present your stunning presentation.
But, what about those in the back of the room? They may have a hard time seeing the words, graphs, or pictures in detail. Then some are going to want to make notes on a hard copy. How convenient if they had a hard copy in front of them.
Still, others will want to take a hard copy of the presentation with them for further reflection. How convenient would it be to have an office copier on hand, to save your business money and your staff time and the hassle of having copies outsourced?
This is just one example of the million different reasons why you need a multifunction printer. Now that you're convinced of the importance of an office copier, do you buy or lease? Before you decide on either, read on to learn the pros, cons, and differences between buying and leasing.
Great America Financial Services published an article that gives some great insight when comparing leasing versus purchasing you might find useful, Office Equipment Leasing vs. Cash Purchase: What Factors Should Your Customers Be Considering?
Purchasing an Office Copier
When you are buying a copy machine, you own the copier outright. This means you have complete control over how to use it as well as the service and maintenance. What are the advantages and disadvantages of buying an office copier?
Advantages and Disadvantages of Buying an Office Copier
From a financial standpoint, when you buy an office copier, it is cheaper in the long-run. If you keep it long enough, you will recoup your investment. You do not have to worry about any stipulations pertaining to how much and in which ways you can use your copier.
When you purchase an office copier, you now assume full responsibility for the machine. Your business is responsible for all of the service and maintenance.
It doesn't mean you can't hire a professional to service the machine; it just means it is your responsibility to schedule regular servicing as well as pay for it. Unless the machine is under warranty, your business is financially responsible for having it fixed.
Advantages and Disadvantages of Leasing an Office Copier
Choosing to lease an office copier means signing a contract for a set amount of time in which the company loans you a copier of your choosing. Leasing an office copier is much different from buying one because you don’t own the machine at any point in time. There are distinct advantages and disadvantages to leasing.
When you lease an office copier, the upfront cost is less expensive because you typically pay in monthly installments. Service, maintenance, and repairs are handled and paid for by the company you are leasing the copier from. Leasing a copier also allows you to stay up-to-date with the latest technology.
Leasing an office copier means that you do not ever actually own it, which means there isn't a payoff amount, at which time payments stop. Depending on your contract, there may be certain restrictions as to the usage of the machine.
What are the Differences Between Buying and Purchasing an Office Copier?
The main difference between purchasing and buying an office copier is the financial investment. When you buy a copier, you incur a greater upfront cost if you buy the machine outright.
However, once the copy machine is paid off you are own the machine and are free to do with it what you wish. If you lease a copier, you essentially make payments for the right to use the machine for the duration of your contract.
It’s easier to keep up with technology and update your machine from time-to-time when you lease an office copier. If you purchase an office copier, you must keep the copier for a more extended period of time to financially make sense.
Leasing a copier means you do not have the burden or worry of servicing the machine or making expensive repairs should it breakdown. When you own the machine, you are responsible for all maintenance and repair expenses.
It is much like owning a house versus renting a house. If your renting a house and your water heater goes out, you easily place a call to your landlord to replace it. However, if you own the home, the replacement of the water heater becomes your responsibility.
When you purchase a multifunction printer, you can use it as you wish. However, if you lease an office copier, there may be certain restrictions in place as to how you can use the machine.
What's Next? Buying or Leasing an Office Copier
This depends on your business's particular needs, preferences, and goals. If it is not important for you to stay up-to-date with the latest technology and you are more interested in saving money, buying a copier might be the better option for your business. However, if you want to have the latest and the greatest in technology, leasing is worth a second look.
For even more resources on office copier solutions for your business, visit our Ultimate Office Copier Resource Page.
AIS is dedicated to providing your business with solutions that fit your individualized needs. Our team is committed to offering top-of-the-line copiers and printers, maintenance repairs and contracts, managed IT services, and much more! To learn even more about buying or leasing an office copier, or any of our other products and services, reach out to one of our business technology consultants, here. Also, check out our video channel on YouTube, The Copier Channel. We’re here to give you peace of mind to help you win more business.