I need a printer/copier for my business. Should I lease or buy?

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Are you tasked with getting a printer/copier for your office? We know you have a lot of expenses when you own or manage business operations but when it comes to your printer, you have 2 choices: lease vs buy. Each has its’ own set of advantages and disadvantages and here are a few things to consider about each:

Benefits of leasing or renting a printer/copier

  • Lower start-up costs: If money is tight right now, leasing is a great way to avoid a large initial expense, and to have that expense spread out over a longer term. You get fixed and predictable monthly payment options.
  • Frees up capital: when you amortize your cost to lease a printer, you free up budget to invest in other areas of growing your business.
  • Easy to upgrade: Technology is evolving quickly and the office printer/copier is not exempt from this growth. When you lease, it’s easier to upgrade to a newer model with more advanced features. You don’t have to worry about trashing or selling your older printer, just send it back at the end of your lease, and lease a newer one.
  • Maintenance and supplies may be included: Many lease agreements include stipulations for regular maintenance and supplies so it’s a great way to bundle services you’d need anyway into one expense.

Benefits for buying a printer/copier

  • It’s less expensive: Over the life-span of your printer, you’ll pay less when you buy when compared to leasing because leasing charges an extra fee to cover the lessors administration costs and to cover depreciation of the asset.
  • If you have budget to use: For many, if we don’t use our allotted budget within a month, quarter, or year, we lose it. This could be a great opportunity to use up unspent budget on something you need anyway.
  • Freedom to choose maintenance suppliers: When you own your own printer, you’re not locked to a specific supplier or maintenance company. You have more freedom to choose one you like in your budget range.
  • You’re not locked into a term: If you like the flexibility of upgrading anytime you want without penalties from early contract termination, buying is a good option for you. If you ever decide to upgrade (or downgrade) your machine you can sell it and buy a new one. No strings attached. No extra fees or penalties.

So essentially, if you want cheaper and easy you should lease your printer/copier. If you want more flexibility and have budget to spend, buy it!

At some point, every businesses needs to decide whether to buy or lease their copier/printer. When it’s your turn, let our knowledgeable team at Steelhead help you choose the best option! Contact us today for a no-obligation chat about your printer/copier needs.