Few pieces of equipment are more ubiquitous in the modern office environment than the copy machine. A fixture in the office landscape for decades, the best office machines in Fairbanks, AK, have evolved to become information hubs that provide more than just copying. Modern office copiers offer full document reproduction functions which include copying, faxing, printing, and scanning.
When purchasing a new copier, there are many factors that must be considered such as the volume of work the printer will do, the quality of resolution you need, desired functions, and the cost of maintenance and upkeep. Another question you must answer is whether it’s better to lease or buy a copier, since both options represent viable alternatives in today’s office equipment market.
If you need new office machines in Fairbanks, AK, you have probably pondered whether it makes more sense to lease or buy the equipment you need. Both options have their pros and cons, and the decision comes down to available financing and personal preference. High-quality office copiers can range in cost from a few thousand dollars to $10,000, which can make leasing an attractive option. However, if ownership is desirable and finances aren’t an issue, it may be more sensible to buy the machine outright and avoid interest payments.
There are many considerations that go into the decision, so it’s best to collect the facts and analyze them carefully. Read on to learn whether leasing or buying best fits your needs when you must buy a new office copier in Fairbanks.
Leasing Benefits
Leasing offers an attractive option for those who don’t want to make the large upfront investment in office machines but who need modern, full-spectrum office copiers. Leasing is great for small businesses that may not have the liquid resources to purchase a copier that could cost $10,000 or may not want to use valuable credit on such a purchase.
Leasing can also help businesses avoid paying large sums of money for equipment that will become obsolete in the near future. Digital technology advances at a breakneck pace, and office copiers are rapidly improving and adding new features and capabilities. When you buy a copier, you are locking yourself into the available features of that era and can’t upgrade until it’s time to replace your copier. When you lease, you have more flexibility and can upgrade your equipment after much shorter lease terms are concluded.
Leasing can be convenient for many businesses because it can include maintenance plans, ink programs, and other upkeep features that would otherwise fall to the business.
Leasing Drawbacks
The drawbacks of leasing are obvious. One of the primary cons is that you don’t own the equipment but are instead just using it. While that can be beneficial, it can also be a liability because when your lease is up, you won’t have anything concrete to show for the lease payments you’ve made.
Also, leasing a copier can be more expensive over time than purchasing the equipment outright. Though monthly payments may be lower, across the course of the lease you will pay more than if purchasing the copier. Also, maintenance requirements and schedules are often dictated by the leasing company, which means you may not have the opportunity to shop around for the best rate.
Leasing also locks a business into a contract, and even though the term may be short, it can still be binding if the copier needs of a business change dramatically.
Buying Benefits
When you purchase a printer, it’s yours. You own it, for better or worse, which is something that makes many business owners more comfortable than lease arrangements. Buying is also less expensive over time. Even though the initial investment may be large, businesses can realize savings because of lower interest payments and greater flexibility in maintenance contract requirements.
A business can also recoup some of its investment in a copier if it is purchased, as it can be sold or otherwise liquidated when printer needs of the business change or equipment must be upgraded. Buying a copier also keeps the business free of contracts, so if copying needs change or the company goes out of business, there is no binding contract.
Though maintenance is up to the owner of the copier, it is not required by an external party as is the case in most copier lease agreements. Therefore, the business has more flexibility with maintenance schedules and upkeep with a purchased printer.
Buying Drawbacks
The initial expense involved in purchasing a copier can be high, so for businesses with limited cashflow, purchasing can be prohibitive. Buying also puts the weight of proper maintenance and repair on the business, which can be expensive. If the printer breaks down, the business that owns it must pay for repairs or replacement of the copier unit. Depending on the expected length of service for the copier, purchasing can also lead to dated technology after a few years, which can hurt company efficiency and lead to more costly downtime for your office equipment.
If you’re in the market for an office copier in Fairbanks, consider whether it makes more sense for you to lease or buy office equipment. Both leasing and buying have their pros and cons, and it’s important to match the relative strengths of each option to your specific needs. To learn more about the value of leasing and buying office copiers, visit Arctic Office Products.