Office Printers: Leasing vs. Buying
by Arnab Dey Technology Published on: 28 March 2022 Last Updated on: 07 November 2024
When your business needs a printer, you have to decide whether to buy or lease one. If you’re not sure of which option to choose, you aren’t alone. Many companies struggle with this decision.
But investing in a printer is a huge decision for any business. Of course, you want the right technology that supports your worker’s productivity. But at the same time, you also want to make things as cost-effective as you can.
Before making a final decision, it is crucial to explore more about Sharp copiers, as well as other leading printer brands such as HP, Canon, and Epson, to ensure you find the best fit for your business. Each brand offers a unique set of features, functions, and price points that cater to different organizational needs. By comparing these brands, you can gain a better understanding of the printer market and what technology is available to support your workforce. Ultimately, your choice should be based on a balance between cost-effectiveness, user-friendliness, and the ability to meet the demands of your business.
So, what is the most cost-effective way of acquiring a printer for your office? Today, we look at buying vs. leasing a printer to help you make an informed choice.
Buying Office Printers:
Many people opt to purchase office printers upfront, whether for office or home use. Purchasing a printer offers several advantages over leasing, including:
1. Cost Efficiency
The initial cost of buying a printer is expensive. However, it’ll be the most cost-effective option with time. Plus, there’s plenty of information available on where to find the best cheap printers, so with a little research, it’s possible to secure a good deal on an office printer. You only make a one-time purchase and that’s it. But with leasing, you’ll pay many smaller payments, which will be expensive in the long run. Also, buying a printer for your business helps you save on tax deductions.
2. Full Authority
Purchasing a printer gives you full ownership. Once you pay for the equipment, you become the owner, meaning you make decisions about it in the future. Therefore, you can decide on the toner and amount of paper to use without worrying about being penalized.
Plus, you can make decisions about changes or customizations, including the software or security to use. And should the printer experience any issues, you have the right to decide who to repair it.
Disadvantages:
But, just as there are perks of purchasing a printer, there are also drawbacks that can make leasing a better option. Purchasing a printer upfront can be costly, and some businesses may not afford it. Plus, you’ll be investing a large amount of money in a depreciating asset that may not offer returns during resale.
Additionally, with technology advancing daily, you may want to consider whether you’ll replace your printer. Note that the model you buy can be quickly outdated.
Leasing a Printer:
Leasing office printers offer various attractive benefits for businesses. These include:
1. Small Upfront Costs
You’ll not have to pay anything upfront when leasing a printer. Instead, you’ll account for the charges on your monthly budget. Therefore, you can invest that money in other areas that will grow your business.
2. Maintenance Coverage
Most leases feature a maintenance and repair contract. Thus, you are not in charge of repairing any technical issue that might occur when using the office printers.
3. Latest Equipment
Technology is constantly changing. That means that new models are being introduced to the market. Thankfully, you will not worry about the burden of purchasing new equipment when leasing. The leasing company will ensure that you’re always up to date with the latest models.
Related Resource: 7 Tips Of Managing Your Printer Fleet
4. Trial and Error
Imagine how frustrating it can be when you buy a new printer, bring it to the office, and you realize it’s not what your company needs. Fortunately, leasing companies offer a short-term trial and error to allow businesses to decide if the printer is suitable for their business.
Drawbacks
Leasing is expensive in the long run. The small payments you make will add up with time to be more than what you’d have spent purchasing a new office printer. Also, leasing involves a lot of paperwork and credit check, which takes time.
Again, you will always be bound by a lease, meaning even if you are not using the equipment, you’ll still pay for it for the time agreed on in your contract.
Leasing vs. Buying
There is no one-size-fits-all answer when it comes to leasing or buying an office printer. Weigh out the pros and cons of each carefully and decide which option favors your business most.
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