When it's time to add a copier to your office, you are faced with many choices: brand, specs, vendor, and more. There's also one big choice that many businesses face: to lease or to buy.
Buying Vs. Leasing a Copier
There are benefits to both, but it comes down to what fits your specific needs. This brief guide will explain some of the things you should consider as you embark on this decision-making process.
Cost
Lease
When you lease office equipment, you don't have to dedicate a chunk of your money to the equipment immediately. This can be an important factor for many businesses, especially if your money can be best used elsewhere. Or, if you are just starting out with your business, you probably have a lot of other expenses to attend to. In those cases, leasing is a good option to free up some of that money to go to other things.
Buy
When you buy your equipment, you pay it all upfront. However, you probably pay less in the long run. When you're making the decision to lease or buy, it's a good idea to sit down with your expenses and figure out how much the equipment will cost overall. Are there leasing fees that make it less worthwhile to go that route? Are you getting the copier with the specs that fit your needs? Weighing out both options and how it affects your finances is a good idea before making a commitment.
Upgrading
Lease
Oftentimes, lease options allow you to upgrade your copier at any time, or at certain times in your contract. If your business is growing rapidly, this could be a very useful feature. Check the terms of your agreement before you sign, though. If this isn't available, you might want to find another vendor.
Buy
Buying means you don't get to upgrade at any time, of course. But you might find that the one you buy works great for now, and you will add to the fleet later. Again, this all comes down to the overall best decision for your business. If upgrading isn't something you'll need, then this point shouldn't affect your decision.
Maintenance
Lease
With copier leases, maintenance is typically part of the package. You might get regularly scheduled maintenance or repair as needed. Be sure to look into your lease agreement to see how maintenance is (or isn't) included in your terms. Regular maintenance keeps copiers running and reduces downtime, so it's recommended that you find a dealer that includes this. At the very least, the dealer should send a technician out when something is wrong -- and they should do it in a timely fashion.
Buy
Buying a copier means that you are taking the responsibility on to service and repair your equipment. Sometimes this means that leasing is actually a better option. It can be costly to hire a technician regularly, and it can be a pain to have a broken down device. However, there are other options such as Managed Print that you can add on.
To find out more about copiers and your options for new equipment, contact CPC Office Technologies today!