Should you Lease or Buy a Photocopier?

Should you lease or buy a photocopier for your business?

Trying to decide if you should lease or buy a photocopier for your business can be a tough decision. At Rawson Digital we’ve put together an article which explains the benefits and drawbacks to both so you can decide which is best for your business.

What is Photocopier Leasing?

If you own a business or are in charge of office equipment you might have heard of photocopier leasing. You may even already be leasing your photocopier equipment. The leasing of office photocopiers or printers can help ease any financial burden that purchasing such equipment can place on a business. Leasing allows your business to spread the cost over time, allowing you access to more advanced technology that might be too expensive if you had to purchase outright.

The Benefits of Photocopier Leasing

Photocopier leasing comes with a whole host of benefits for your business, the main benefit would be negating the need for a large one-off payment to purchase the photocopier outright. Other benefits include:

Access to Advanced Technology

As you don’t need to pay for the device upfront you can choose a photocopier that is a higher spec and can do more features that your business needs, such as adding a finisher or stapler if you produce leaflets. This could increase productivity as it allows you to complete tasks in-house and could reduce your spend on outsourcing this.

Flexible Payments

With photocopier leasing payments you can choose when you want to make them, either monthly or quarterly. This can help with spreading your company costs across the year.

Tax Deductions

Lease payments are tax-deductible, saving your business money which could be invested elsewhere.

Flexibility

At the end of your lease you will have options. Either keep your existing equipment if your business hasn’t changed. Or you can upgrade to newer or better equipment, perfect if your business has grown or expanded into new areas. Lease agreements can also be upgraded mid-contract if you need better or more equipment to support your business growth.

What are the Disadvantages of Leasing a Photocopier?

The main disadvantage of leasing is, that until your contract fully ends you will never own the devices. It can also be harder for a new start-up to get a lease as you may not have the correct paperwork or may have poor credit. Another disadvantage is the print industry is unscrupulous regarding leasing. There are many companies with hidden clauses in their agreements which can catch you out. At Rawson Digital, Vaughn Rawson set up the business to combat these companies offering a better way to do business. We offer upfront and honest advice with no hidden terms.

The Benefits of Buying a Photocopier

If your business has the funds to do so buying a photocopier or printer for your office can be a great choice, the most obvious benefit is once you have paid for the device you have no more payments and the device is yours. Other benefits include:

A Simple Process

Buying your photocopier outright is a very simple process. You pick the device which suits your business and purchase it, you don’t need to fill out any paperwork for leasing companies or provide any financial information.

A Fixed Asset

Once you own a photocopier it becomes a business asset which can be added to your business balance sheet.

Long-term Savings

Because leasing a photocopier would incur interest you will naturally save money buying it outright.

What are the Disadvantages of Buying a Photocopier?

Buying your photocopier outright can be seen as a benefit however the longer you own the photocopier the less reliable it can become, needing more and more maintenance to work effectively. This could cost you more in the long run, and reduce office productivity if employees are regularly trying to fix or diagnose the device. Older machines can also be less energy efficient than newer models costing more to run.

Is Leasing or Buying a Photocopier Best for My Business?

If you’re still not sure if it’s best to lease or buy a photocopier for your business, you should think about the following.

• How much does your business want to spend? Will this amount get you a device which meets all your business requirements.
• How long do you intend to keep the device(s)? Is it long enough that the equipment might become unreliable and outdated quickly?
• Do you expect your business to grow and change? Will you need devices that offer different functionality in the future?

At Rawson Digital we can help you answer these questions and provide you with free bespoke quotes for the outright purchase or leasing of photocopiers.