Friday, May 14, 2021

Business

Copier Leasing vs. Buying: Which Is Better for Your Business?

Even with the increasing use of digital technology today, print remains to be an important part of any business. The copier machine is vital for the business for duplicating, printing, scanning, and saving files electronically. Also, it can monitor the use of the machine, hence tracking the productivityof the employees. Other more updated copiers can organize and staple the copies. This machine helps with memos, contracts, flyers, receipts, and other documents that require the multifunction feature of copiers today.

With all these uses, you can probably imagine now how advantageous it is to have one in your office. The acquisition can either be buying or leasing a photocopier. Deciding can be tough. Thus, here are some things you can consider when determining whether to choose copier leasing or copier buying for your business:

  1. Upfront cost

Since buying your own machine requires you to prepare the entire amount of the machine, copier buying can be very expensive. Note that each machine can be more than $10,000 depending on the brand, model, and specs. This means that leasing can save you a lot. It can spread out this amount and you can find a copier leasing company that can offer the best terms. Typically, this includes not requiring collateral or down payment.

2. Cost savings

Because leasing includes the payment of interest and involves a term of payment, you will end up paying more money to the dealer by the end of the lease. Also, if you choose to buy your copier, you can easily sell it when you decide to buy a newer or more undated version of your copier. Buying a copier is more practical than copier leasing if you can afford the initial payment.

3. Cost savings

Because machines can upgrade every time, existing ones may depreciate easily. Also, you may want to get your hands on the new features that typically improve getting things done using the copier. This may be easily accessible for those who preferred copier leasing. After the term ends, they can lease a newer model and avail of it at a lower cost. On the other hand, for those who bought the copier, buying the latest machine after a year or so of first purchase may not be a smart decision for the business.

4. Copier maintenance

If you own a photocopier, maintaining it can be frustrating especially when you do not have an employee who specializes in repairing the same. But if you chose copier leasing, the dealer of the machine will be responsible for the maintenance services and repairs. Often, this makes copier rental more attractive to small or start-up businesses.

5. Tax benefits

Copier leasing results in a more simplified treatment of the involved taxes. On the other hand, copier buying allows you to subtract depreciation within five years. Either can be helpful depending on the status of your business. Your accountant can explain this and can make a recommendation for what your business needs.

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