Should I buy or lease a copier for my business?
Great question. Unfortunately there is no one easy answer. Just like there is no simple answer for "should I buy a regular copier, or multifunction copier." The answer depends on what type of business your company is. For instance, if you're a mega corpoaration with loads of cash to spend, then it makes sense to buy a copier machine outright for your business. That's because you've got the capital, and buying a copier without a lease will make sense economically in the long run. So, let's take a look at some of the advantage and disadvantages of leasing vs. buying shall we?
Leasing a copier
- By leasing a copier, you're able to get a top quality copier (say a Canon multifunction copier) for relatively little money down. If you're a small business with not a lot of cash on hand, but demands a big copier machine than this may be the solution for you.
- Just like leasing a car, copier machines can be leased on a plan that means you won't be paying for the ultimate depreciation of your asset. Once your lease is done, the company that gave you the lease will simply collect their copier and deal with the repairs necessary.
- If you're a very modern business that needs the latest technology then leasing a copier may be right for you. This is because you can choose, or lease a new copier every 2-3 years!
Buying a Copier
- Let's say that you're a business with a steady income that wants a medium size multifunction Ricoh copier for your business. Well, do you want to pay the sticker price of the copier without incurring any interest? Well than you should buy a copier.
- With buying a copier machine you're able to write of that big expense in your taxes.
- However, one disatavantage should you choose to buy a copier, is that you will be holding it for a very long time (maybe 10 years) and new copier machines with new technology will be available.