Buying a Copier vs. Leasing a Copier: Should I Buy or Lease a Copier?

Which Is Better: Leasing or Buying a Copier or Printer? Several things affect your choice to lease or buy office equipment. Canada Copier Remarketing helps you weigh the benefits and drawbacks of leasing vs. buying a printer or copier to make an informed decision.

When choosing office equipment, you must decide whether to buy or lease copiers, printers, and other machinery. Ultimately, your conclusion will depend on your unique needs and circumstances. Your operational budget, the size and volume of your typical coping work, and the kinds of print and coping tasks your company is in charge of are some variables that will affect your choice.  

This guide will help you consider the advantages and cons of leasing vs. buying and make an informed choice.

Comparing Leasing and Buying Costs

Cost to Buy a Copier

When you buy a copier, you gain a sense of control and ownership that leasing cannot match. You can use the device as you see fit, modify it to your liking, and install software or features that best match your operation. This empowerment is a significant advantage of buying over leasing.  

Despite the higher initial cost, buying a copier can lead to significant long-term savings, especially if you plan to use the equipment for several years. The initial investment eventually pays for itself as you avoid the continuing lease costs, making you financially savvy in the long run.

If you intend to use it for many years, purchasing office equipment might be a more economical choice with a greater return on investment. Additionally, you are in total control of maintenance and repairs, so you may select the service provider of your choice or handle problem-solving on your own.  

Cost to Lease a Copier

Leasing is often a more cost-effective choice for companies with limited resources because of its low initial expenditures. Usually, the leasing company pays for maintenance, so you don’t have to worry about paying for copier repairs. Throughout the lease period, the monthly lease payment is fixed and is not impacted by fluctuations in interest rates.

If you intend to use the copier briefly, leasing contracts sometimes include two to five years of required lease terms. Lease agreements may have rigid conditions that, over time, may not meet your demands as a corporation. Before committing, always read and consider the conditions of the contract. 

Pros & Cons of Buying a Copier

Pros

Ownership 

The most significant advantage of getting one is the instant ownership and peace of mind that accompany it. When you buy and install a copier in your business, you can use it in whatever you choose and maintain it as you see fit.

Simple process

Purchasing a copier is pretty simple. The transaction is completed when you give the money. Given the sticker price,

Cost-effective 

It is difficult to imagine buying a copier will result in lower long-term costs. Apart from upkeep, purchasing a gadget of this kind is a one-time expense unaffected by other factors. Thus, it is doubtful that the price will exceed what you initially spend.

Tax deductible 

Buying a copier is a tax-deductible expense, allowing you to write off the entire cost in the year of purchase. This financial prudence, coupled with the ownership benefits, makes buying a copier a smart investment for your business. 

Additional benefits 

Additionally, it may be liquidated or sold like any other asset or stock if you suddenly need to add money to your cash flow.

Cons

Greater initial expense

Expert copiers and related office equipment, such as laser printers, are unaffordable.

Therefore, paying cash for one might deplete a sizable amount of your earnings monthly, quarterly, or even yearly. This is a foolish decision for many small businesses to make.

Outdatedness

Devices are constantly being released in new and improved versions, and technology is continuously evolving. As previously indicated, an average copier lasts for five years, after which you will need a new one. By then, your copier will be out of date, even if it is in fine shape. Furthermore, it will be difficult for you to replace it if it has to be changed.

Devaluation

Copiers lose value with time, just as vehicles do, so if you need to sell it, expect to get less than you did when you bought it.

Greater Accountability

 If you own the equipment, you may avoid doing the paperwork but take on entire liability for any expenses and issues related to your copier. You have to learn how to compare prices on ink cartridges, locate the most skilled professional to fix it if it breaks, and much more.

Pros & Cons of Leasing a Copier

Pros

Reduce out-of-pocket costs

The most often praised advantage of leasing is that it is less expensive upfront than buying a new copier or printer. With leases, you can quickly get the latest technology without paying much money. The monthly leasing charge covers features like maintenance and repairs.

Adaptable Dedication

Select a lease duration that best fits your budget. The longer the lease term, the lower the monthly charge. Companies that lease laser printers and copiers typically have more flexible terms and conditions and demand less customer commitment.

Regular monthly installments

Knowing the precise cost of the copier each month can help you monitor your spending and create a budget.

Choice to improve

This is a big plus since technology is constantly improving. When your lease ends, you can exchange your outdated copier for a more modern, technologically advanced one.

Tax Advantages

If you lease your copier, each leasing payment is deductible as a legitimate business cost. This and other business costs are usually deductible from your annual taxes, reducing your taxable income.

Cons 

Increased long-term expenses

 Renting a copier may cost you more money than purchasing one.

Lease Terms That Are Locked in

Leasing firms could be more accommodating when it comes to breaching your lease; however, they could be when it comes to payment. A lease is hard to break; even if circumstances change, you’ll still have to abide by it until the end.

Even if the equipment is not being utilized, you are obligated to continue paying payments for the duration of the agreement once you sign it. Thus, you should carefully review the terms.

Absence of Direct Ownership

Leasing does not grant you ownership of the rented copier, so the device remains the rental company’s property. While some firms allow their customers to purchase the item when the lease expires, others could request it be returned at their expense.

How can I determine what’s best for my company?

If you’re still unsure about whether to lease or purchase your photocopiers, consider the following:

How much money do you have, and can you use it to buy equipment that will fulfill your needs? 

Consider print quantities, functionality, and security needs; a Sharp technology specialist can assist you.

What duration does the equipment need to be kept?

Although leases can range from short to lengthy, buying the equipment can make more sense if you want to retain it for an extended time.

Do you want the freedom to swap out and improve your gear as needed?

If so, leasing is a wise choice.  

How Canada Copier Remarketing Can Help You Decide?

Deciding whether to buy or lease your copier or printer might take time and effort. However, working with a managed service provider like Canada Copier Remarketing may help you select the right course of action.

Our customers frequently save thousands of dollars by replacing outdated equipment, leasing instead of buying (or vice versa), lessening the number of devices, or paying off an infrequently used machine. We provide more than this preliminary advice.

When you choose Canada Copier Remarketing as your copier management partner, we will collaborate to improve the efficiency of your company’s fleet of printers and all of its operations while assisting you in avoiding the frequent errors that companies make regarding their copiers.

What you’ll get if you partner with Canada Copier Remarketing

Depending on your unique situation, leasing a copier or printer may be a better alternative than purchasing one.

Selecting the appropriate office supplies will help you increase productivity, promote staff satisfaction, and improve the calibre of work your company generates.

The Canada Copier Remarketing has everything you need for office supplies and equipment! 

For further information, please contact us at +1 416 953-3264.

Visit https://canadacopierremarketing.com/ 

Location Unit #14-15, 1515 Britannia Road East. Mississauga ON