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Pros and Cons of Leasing a Printer

July 13, 2020

Pros and Cons of Leasing a Printer

One of the common questions businesses of all kinds face is whether to buy the office printer or lease it. It may seem like a simple decision to take, but your business productivity and work environment, among others, can get impacted because of this.

Although there are many attractive advantages to both, you should weigh them all and pick the right choice for you. So, let us see the factors you should consider for a printer lease or purchase.

Lease vs Buy Analysis

There are two types of printer leasing:

1. You may lease it like a car or building – pick a model, sign the contract, and you get the device for the term.

2. The process is almost the same as above, except management print services handle your maintenance and some other added benefits.

Leasing A Printer Pros and Cons

PROS OF LEASING A PRINTER

CONS OF LEASING A PRINTER

Financial Benefits

The main advantage you have when you lease a printer is that you save a lot of money as you don’t have to keep upgrading your device once the original piece becomes obsolete. Especially with managed print services, you have smaller acquisition costs with fixed amounts payable every month. 

Asset Management

If you move your office space, it may get difficult to keep track of the device. However, you may sign up with a company that provides these services.

No Hefty Down Payment

You also don’t need to pay a hefty down payment. The lease payments are much lower compared to when you buy because here, you are not responsible for its full lifetime payment. You pay the time you use it and return it to the leasing company. 

Long Term Costs

Even if you choose an economic model, you will be paying to use it, but ultimately, you may not own it outright. 

Tax Returns

You have indeed accrued interest, but the contracts are structured so that the entire lease payment can be claimed as business expenses. So, they are immediately tax-deductible. 

Easy and Quick

Whether it is the maintenance of the machine or the initial acquisition, leasing is a pretty safe and easy process. You don’t have to wait to hear about your loan application status, and there is no lengthy paperwork. You also don’t have to bother with reselling the device or recycling it when the printer leasing company takes it back. 

 

Buying a Printer

PROS OF BUYING A PRINTER

CONS OF BUYING A PRINTER

Less Overall Costs

Since locked-in contracts do not exist, you don’t have to pay additional money in interest. If you are sure that the model you picked can satisfy the business requirements for years on end, you can purchase it. But usually, that is not the case. Still, you can buy the printer, save the interest on the lease, and use that money on other crucial assets.

Risk of Becoming Outdated

When you own a printer, it may become obsolete in a few years as newer models come into the market. Even if you resell it, you may not get the costs back. 

 

Straightforward Process

You can pay for the device and walk away as the owner. This also means you will have tax deductions and savings on the best deals you can get. 

 

 

Hidden Costs

Besides the high initial investment, you have to deal with the repairs and replacements of the parts on your own. If the device parts are not easily available, you may run into some downtime and production losses. You also accrue the operational costs of specialized equipment if they are not used properly. 

 

Conclusion

Ultimately, the choice comes down to your requirements. Here is a tip though. Companies that can take the plunge at the moment may purchase a high-quality printer. You have more freedom and control when you are the owner. SMBs or startups may choose to go the lease rent printer way because you may scale up in the future and want a high-end device.


Office printer in desk

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Pros and Cons of Leasing a Printer

July 13, 2020

Pros and Cons of Leasing a Printer One of the common questions businesses of all kinds face is whether to buy the office printer or lease it. It may seem like a simple decision to take, but your business productivity and work environment, among others, can get impacted because of this. Although there are many Read More

Office workers besides copier

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Copier Lease vs Buy: Pros & Cons

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