'Look after the pennies and the pounds will take care of themselves' is a saying which is as true in the office environment as it is anywhere. Looking after even small amounts of money, by investing finances wisely, making savings on unnecessary spending and so on, can all add up to significant amounts when totted up. It therefore makes perfect sense to try to save as much as you can when it comes to sourcing large equipment, like printers and photocopiers.
With the extensive range of often very expensive photocopiers available on the market, many businesses have found that they can make significant reductions in their outlay by leasing a new photocopier, rather than outright purchase.
There are many reasons why leasing your photocopier or hiring your printer, opposed to buying, makes more economic sense for any business, be they are large or small. Through considering how the advantages of photocopier leasing outweigh the cons, it becomes far easier for companies to decide whether leasing is right course for their own, individual circumstances.
So, let's look at a few of the advantages of leasing your copier/printer over buying- to enable you to save those pennies!
Finding the initial resources to buy a photocopier, often stretches operational budgets to the limit. Businesses rarely have unlimited capital at their disposal, so by avoiding large purchases on equipment like photocopiers, through leasing, companies can keep their capital available to plough back into the business. When you lease a photocopier/printer, you'll still get your chosen copier, but with more manageable, monthly installments, rather than a huge one off payment. You'll be able to establish a scheduled set of far smaller payments, giving you the flexibility to arrange your financial resources to better effect. If you find a good leasing company, they should allow you to select the length and terms for your lease, offering you payment flexibility. What's more, any already established payment amounts that you make, won't be affected by interest rate changes.
When you lease a photocopier, lease payments are regarded as a pre-tax business expense, meaning you're able to deduct the entire payment each time it is made. Yet if you buy outright, you can only deduct the machine's depreciation, usually around 40% of the purchasing price the first year and then 25% of the purchasing price in subsequent years.
As the new photocopier that you bought several years ago, becomes older, it will inevitably depreciate in value, becoming slower and less effective with age. Furthermore, those buying their photocopier will only be able to upgrade to newer technology by a further large outlay to purchase a new machine. You'd also need to get rid of the old machine, adding to your expenditure. However, most copier leasing agreements have the option to upgrade when the existing photocopier needs updating, usually on a pre- determined date. This allows companies to keep abreast of the latest technology and ensures that the office copier remains as efficient and as cost effective as possible. So, by leasing rather than buying, you don't have to put up with old, outdated technology, because you'll be updated with the latest, most up to date model, without breaking the bank!
When you lease your photocopier, you'll find that many good leasing agreements will also include the cost of supplies, such as toner and inks, thus further reducing your costs, whereas if you purchase you'll need to finance these for yourselves, meaning a really significant expense.
Owning and maintaining a copying machine can be a real financial burden for many small businesses, as repair and maintenance costs can be expensive! If you lease your photocopier, however, you can ease this expense, as photocopier repair and maintenance services costs usually come a part of the leasing package.
There are some excellent reasons here to lease your photocopier rather than buy! Paragon Document Solutions provide a specialist photocopier lease and printer rental service, which is unsurpassed throughout London and the UK. Paragon are authorised Canon photocopiers, Kyocera photocopiers, Toshiba photocopiers & Konica-Minolta Bizhub photocopiers approved photocopier dealers, specialising in the selling, leasing and rental of copiers and printers.
Our copier lease and rental solutions offer…
Conclusion
So, there you have it. From the above pointers, you'll be able to decide whether buying or leasing is the best option for you. It seems the only downside of leasing/renting your copier/printer over buying it outright, is that you will never ultimately own the machine outright. However, the benefits of leasing/renting certainly outweigh this one disadvantage, although the final decision is, of course, yours. If you want the latest technology, without the financial constraints of replacing your copiers and printers before they're obsolete, along with the knowledge that your device will be repaired fast and efficiently, without costing you the earth, then leasing must be for you. There are real benefits for companies from photocopier leasing and it isn't difficult to understand why many businesses are leaning towards this instead of buying their appliances outright.
Alternatively, maybe the 'white elephant' option is for you… owning outdated equipment that will be left on your hands; worthless; unrepairable, due to obsolete parts; left wanting because you can't afford a new one… I could go on. I know which option I would take. I hope you do too.
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