There’s no one-size-fits-all answer to the question of whether your company should lease or buy its copiers. The best way to determine the right fit for your needs is to evaluate the advantages of both options.
Advantages to Leasing
There’s no question that leasing provides some appealing advantages, which is no doubt why it remains the most attractive option for businesses of all types and sizes.
1. Free Up Your Cash Flow — Purchasing new office equipment can tie up a lot of cash—capital you may need to fund a new project or expand your company. Leasing allows companies, especially small to medium businesses with limited resources, to acquire new copiers and printers without tapping into much-needed working capital.
2. Acquire New Technologies — If your aging copiers are putting a damper on your ability to compete, leasing can provide you with the opportunity to upgrade sooner. Leases often come with upgrade options that mean you’ll be able to access new technologies as they become available much sooner than if you purchased your copiers outright.
3. Budget Predictability — There’s something to be said for a fixed monthly payment. Budget predictability allows for better planning, and your lease payment may qualify as a tax-deductible operating expense.
4. Service Agreements — A service agreement with your lease provider can keep your copiers running in top condition, minimizing downtimes and costly repair fees.
Advantages to Buying
If the capital is available for purchasing, there are some advantages to consider; deduct the purchase price as a tax write-off, call the shots when it comes to maintenance and resale, and you can keep the device in service for as long as you want.
If you’re not sure whether leasing or purchasing your copiers is best for your company, contact us at C.A. Reding for a needs assessment today