Should we buy or should we lease?
This is a mind-boggling question that overwhelms business decision-makers when it comes to the acquisition of important pieces of equipment for the office. One of which is a copier.
For companies with high printing demand daily, there is no question that a heavy-duty copier is needed. If your business has been thriving for many years now, you might face this crossroads of whether to buy or to lease a copier.
Lucky for you, you have enough money in the company’s coffers to afford any of these two options. Unluckily, for start-ups and sole proprietors, buying a quality copier would not even come to their minds because they don’t have the money for such purchase.
But here’s what.
Whether you’re a Fortune 500 company or a small start-up, the decision of whether to lease or to buy a copier should always result to more income and the least loss for your business. The equipment should help your company grow, not take away money from it without bringing even a breakeven benefit.
Business News Daily reports that a standard commercial copy machine costs between USD3,000 to USD12,000 while the price tags for more competent commercial copiers range from USD15,000 to USD40,000 depending on several factors.
Looking at these numbers, is buying a top-notch commercial copier a viable option for you?
If not, then indulge us as we discuss an option that’s becoming more popular for many businesses over the last decade – copier lease. Here are eight facts you need to know about this arrangement.
Yes, you heard it! The number one truth about copier lease is the exact reason why most businesses choose it.
That is – you do not have to remove a huge chunk from your company’s coffers only to afford one. As the term implies, copier lease allows you to pay only a monthly fee for the use of the copier. That amount is way cheaper than purchasing a brand new copier. This is what makes copier lease more feasible and beneficial than a purchase.
Settling for less will not be an automatic option when you lease a copier. Since you won’t buy the machine but will lease is it for a period of time, you can choose the model that suits your company’s printing demand best. You never have to look at the price tag again.
This way, you can prioritize the competence of the machine over your company’s financial capability when choosing a copier.
It’s a simple business principle that any ordinary asset you buy will depreciate over time. Be it a car, a cabinet, a computer, a laptop, or a copier, depreciation comes right after the purchase. With copier lease, you don’t really acquire the equipment. You only lease it for a period of time. Therefore, it will not be added to your company’s balance sheet as a depreciating asset.
As we said earlier, you don’t need to look at the price tag when choosing the copier to lease for your business. With the price removed from the equation, your options will expand big time. You can even go for a multi-function device if need be.
You can choose the machine with a higher print speed, a better touchscreen, has the best connectivity features, and a high paper handling capacity. You can also choose from the line-up of the leading copier brands. And once a choice is made, you only need to pay a monthly fee for its use.
Not everyone knows this about copier lease, but there are copier machine Singapore companies that include a stipulation or agreement in the contract where you can replace the model you are using with a different one.
Most businesses experience the benefit of this contract stipulation when a new copier model comes out. Depending on their agreement with the lessor-company, the lessees may replace the unit they are currently leasing with a newer and more advanced copier.
Some companies allow a replacement like this more than once during the whole period of lease. Isn’t that amazing?
One of the problems with office equipment such as copiers is that they depreciate over time. There’s a high probability that they will get broken if not maintained properly and they will malfunction because of continuous heavy use.
Most often, companies that offer copier lease agreements include maintenance and repairs in their packages. Since the contract is only for a lease, the device is still the property of the lessor-company. Therefore, it is for their benefit that the machine is well-taken care of. That is the main reason why copier lessors handle the maintenance and repair of the unit you are leasing.
With this additional cost off the table, you will have peace of mind that your copier will not fail you when you need it most.
As we come to a close, it’s about time you discover that copier leasing companies usually offer short-term lease contracts that give lessees the flexibility to decide whether to continue, pause, or totally end the agreement.
This flexible aspect of a copier lease will give you the freedom to decide for the benefit of your business. This set-up is most helpful on a season when the business incurs losses and can’t pay all its financial obligations. When your business encounters this problem, you can pause the copier lease contract until your company recovers.
We save the best for last. The last copier lease fact that we’d like to share with you is that at the end of the contract period, you always have the option to buy the device. When you have seen the benefits of the copier or the multi-function device you are leasing and you feel that your business cannot operate without it, you can talk to the copier leasing company and arrange a sale.