As a business owner, the only thing more important than making money is saving it! You analyze expenses, evaluate your investments, and look for ways to increase your ROI. So when it comes times to buy office equipment, you may wonder if it’s better to buy or lease your office copiers and printers. Debating whether you should buy or lease your office copier? This guide can help you weigh your options. Click To Tweet
Outfitting Your Office: Buying or Leasing a Copier
Your office copier(s) is integral to your daily operations. Multifunction copiers combine many functions you and your office staff utilize each day such as copying, printing, scanning, emailing and faxing. As a result, making the best decision could potentially affect your daily operations. As you make your decision, consider the following:
Because the cost of buying a machine outright is high, you’re often able to afford a better machine when you lease. While you may not have a want to upgrade to every newest model every time one is released, every few years you will. If you buy your office copier, you’ll have to keep buying newer models to keep your equipment current, but if you lease, you have the option to upgrade every few years when your lease ends.
Weigh the Cost
Buying an office copier is cheaper over the long haul, but a much larger expense up front. When you lease, there’s no upfront cost, but the ongoing monthly expense adds up over time. The upfront cost of buying a machine outright often proves too high for many businesses.
Pro Tip: The smaller, ongoing monthly cost of leasing a copier is much easier to budget.
When you buy new office equipment, the cost of the initial purchase is considered tax deductible. However, because you own the machine, the unit must be capitalized as an asset and depreciated over time. Since you don’t own the machine you’re leasing, the entire monthly payment is deductible and you don’t have to worry about a depreciation schedule.
Many lease agreements include a maintenance agreement so that when something goes wrong, you can have your copier serviced at no extra cost. When you buy a machine, the cost of maintenance and repairs is your responsibility. It’s often much easier to absorb a lower monthly cost, than larger unplanned repair and maintenance costs.
Make the Best Choice for Your Business
At the end of the day, you need to make the decision that’s best for your team and your bottom line. Weigh your copier needs along with the pros and cons of buying and leasing. Consider your long-term goals, capital available, and the importance of keeping your equipment upgraded. Take into account tax implications and maintenance options. Use this guide to copier leasing vs. buying to help determine which is right for you.
Contact Us for more information about buying or leasing an office copier for your Houston area business.