Advantages:
Buying is very straightforward. All you need to do is to decide on your requirements, look for the best model to suit your needs and then shop around for the best deal. You will also own the equipment so that you can do whatever you want with it.
Disadvantages:
If you buy a printer outright, for the first year you can only claim back 40% of the total cost and 25% of the outstanding balance from then on. There will also be a significant outlay when you purchase, so your capital will be tied up. You'll therefore need to decide what benefits there would be in paying out in one lump sum, rather than making smaller, regular payments, which rental and leasing would involve. Furthermore, when you own your printer and you eventually upgrade, it means a further major outlay, which can put a strain on company finances. What's more, you will also need to dispose of the old machine too, which can be a major headache! If you do buy, you will need to consider carefully the cost of repairs and maintenance after the guarantee expires, which can be very expensive.
Advantages:
Through leasing or renting your office printer, you'll avoid the major outlay needed for an outright purchase. Ultimately, you will pay more when you lease/rent, however in this way you can finance your office equipment without tying up your capital, enabling you to have greater flexibility with your finances.
Office printer rental/leasing is also a better option as there are tax perks. You can deduct your monthly payments as a business expense, thus reducing the net cost of leasing your printer. Leasing therefore means you don't need to pay the total immediately and you can also claim back everything that you pay out for the in the lease. A win-win situation in my book!
Additionally, when your printer needs replacing, good providers will allow you to update/replace your equipment, at a reasonable cost, enabling you to upgrade to the latest technology, without costing you a fortune.
If you decide to lease a multifunction machine, which prints, scans, faxes and also photocopies, you will also benefit from leasing, as to replace all these items individually would be ultra-expensive, so it makes sense to update them all in one go, rather than soldiering on with outdated equipment. One thing that often gets overlooked with leasing/renting, opposed to buying a printer, is that you can often have a much larger machine than you could afford to purchase outright. In many businesses that can lead to increased productivity, reduced downtime and greater efficiencies and opportunities. Leasing therefore offers the potential to acquire the use of a machine that you would otherwise not be able to afford or integrate into your operations.
The operation of many of today's sophisticated printers and copiers is no joke. There are many opportunities for complex machines to give some form of technical issues. Although if you buy you can still obviously entertain a service agreement, you will find that if you lease/rent your printer, many good providers will give you preferential, negotiated rates. You may also find that a maintenance agreement is nearly always offered in conjunction with a lease agreement, (it may be separate or rolled into one). Essentially then, the use of a service agreement is all but automatic with a lease and less negotiable when you purchase the printer outright.
Disadvantages:
These are few, the main one being that the copier is still owned by the dealer or company that issued the lease contract. So you never own the copier until you buy it outright. Some leases, however, are structured so that you can buy out the machine at the end of the lease term.
When you rent, lease or hire a printer, or indeed anything, a contract is drawn up between the customer and a finance company. This will give you use of the equipment over a period of time, providing you make regular payments. These payments are usually quarterly, and will replace the large capital outlay that you would otherwise have had, when buying outright. When you lease, opt for what suits you best. Leasing arrangements should be flexible and vary from short term leases, up to 5 years, thus enabling you to make payments that you can afford, through tailoring the lease to your own requirements. Printer rental and hire work on a similar basis, although the contracts are for shorter periods. Whether you rent, lease or hire your printer, the outcome is the same. You should get the most up to date, modern piece of equipment, helping you to increase your productivity, providing you with better returns.
Now you've heard the facts, it's up to you to weigh up what is right for your business, although many companies do take advantage of printer rental or leasing. Whether you need a large multi-functional device for a big conglomerate, or a mid-to-high volume printer for smaller businesses, you can keep a tighter control of your budget and also benefit from the tax perks and upgrade possibilities if you lease, rather than buy. To ensure you make the choice that is right for you, always ensure that you get professional advice before you enter into any contract.
When comparing whether to hire, rent or lease a printer as opposed to outright purchase, there are several considerations above, which may steer you in one direction or another. At Paragon we have experts who will go through some of the key decision points that you will need to make, and we'll guide you to get what's right for you. We are specialists in…
Paragon Document Solutions will be happy to advise you on all the different options that are available to you. We offer a premier, flexible printer rental/leasing service, which allows you to take advantage of all the benefits that these services can provide. With our 50 years of collective industry experience, we know exactly what it takes to offer our customers the best customer service possible. We are market leaders in printer leasing and offer great deals, not just on this, but also on printer/photocopier hire, repair, rental and sales. We also offer comprehensive photocopier leasing services, all at unbeatable prices. For more details of this check out our PRICE MATCH PROMISE! Our leasing agreements offer you 1 to 5 year lease periods, deferred payments of 6 months and even the option of ownership at the end of the lease agreement. Our flexible leasing service also allows you the option of upgrading your lease should your circumstances change at any point during the leasing period.
Not only does Paragon provide the best prices, but we are also proud of the excellent service we provide. Reliability and efficiency are key words at Paragon. If you choose us as your provider, whether you lease, rent or buy, you will get one dedicated and experienced consultant as your primary point of contact for any queries you may have. We also only supply our customers with the most modern printers & photocopiers on the market at the time their printer leasing agreement begins.
So to get the best of the best, why not contact Paragon today?
Contact us to discuss all your office printer and photocopier leasing needs, or email info@paragon-ds.co.uk with any questions or queries you may have about our printer and photocopier rental and leasing services.
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