If you run a business, you know that choosing the right office equipment is crucial. Ideally, your printer should improve efficiency and productivity and keep downtime to a minimum. But you’ll also have to factor in your budget. It might be better to get a printer lease rather than purchase one. This will give you time to try out the device before making a final choice. On the other hand, purchasing a printer might be better for eliminating long-term costs.
Read on to learn if a printer lease or purchase is the best choice for your business.
How a Printer Lease Works
So, how exactly does a printer lease work? Instead of purchasing equipment, you’ll choose a printer model and then form a lease agreement with a selected company. Each agreement is different, so the guidelines will differ depending on your needs and company policies.
- Monthly payments – A printer lease will allow you to make monthly payments for the printer instead of paying for it outright. You can do this for a specified period before finally owning the printer or terminating the agreement earlier if you prefer a different model. The amount will depend on the printer type and agreed interest rates.
- Ending term options – When you finish paying off a lease agreement, you’ll typically have three options. You can buy the printer, return it, or renew the agreement for further monthly payments.
- Maintenance – Many printer lease companies will also include maintenance benefits. This is advantageous if your printer breaks down during the lease period.
When signing a lease agreement, be sure to consider the terms carefully. Some will require a termination fee if you want to end the lease agreement early. It’s likewise important to choose a leasing company that is trustworthy, transparent, and experienced to deliver the best solution.
Why Choose a Printer Lease? – The Main Benefits
A printer lease can be a unique opportunity for many businesses to improve their workflow while being budget-conscious. Here are some of the benefits of a printer lease:
- Avoiding large upfront costs – Business owners always look for ways to cut costs. While you might end up paying the same as a full purchase, a printer lease lets you make small individual sums rather than large amounts of capital at once.
- Flexibility and upgrades – Many employees may need flexible office equipment solutions in today’s fast-paced business environment. With a printer lease, you can easily swap your printer for a device that has more favorable features.
- Access to cutting-edge equipment – You might want a printer with all the latest features. However, the newest models can be too expensive to buy upfront. A printer lease will give you access to up-to-date office equipment without overextending your budget.
Potential Printer Lease Drawbacks
A printer lease can be a convenient and cost-effective office equipment solution. However, leasing isn’t suitable for everyone and can have potential drawbacks. Here are some factors to consider:
- Overall cost – It’s true that a printer lease helps you avoid paying lots of money upfront. However, the overall sum of the lease payments can frequently amount to more than just purchasing the printer upfront. That’s why it’s crucial to talk to the right company and reach a leasing agreement favorable for both parties.
- Contract obligations – Once you sign the lease, you’re legally bound to the contract. There might be additional fees for maintenance and a penalty fee if you choose to terminate early. This can be incredibly frustrating if you’re not satisfied with the equipment.
- Question of ownership – At the end of the lease, the printer still doesn’t belong to you. You’ll have to either return it or pay an additional sum to own it outright. This might not be the best option if the business is on a limited budget.
To avoid issues with a printer lease, it’s crucial that you carefully evaluate the terms and calculate potential costs before signing it. Otherwise, you might be stuck with a device you don’t want but must pay for monthly.
How to Get the Best Deal
Perhaps you’ve decided that a lease is the right solution for your business. Now, you’ll need to know how to find the best deal. Fortunately, there are a few tried and tested guidelines to follow:
- Research companies – Print lease terms can vary from company to company. Ideally, you should choose a document management company that is flexible with its terms, trustworthy, and transparent. When researching, be sure to read any reviews on the company and its services. This will give you the big picture and help you determine if they’re a good fit for you.
- Analyze the terms carefully – Since lease terms can be complicated, you’ll need to read them carefully, reflect, and analyze them. If the company is flexible, they might be willing to change certain lease terms, ultimately giving you a better deal. Ask them any questions about terms you don’t understand.
- Check for auto-renew clauses – Some companies might include them within their lease terms. Unless you notify them, a renewed monthly payment plan will ensue automatically. As a general rule, you’ll want to avoid these clauses as they can make you keep paying for a device you might not be satisfied with.
- Evaluate maintenance clauses – Check if the terms include changing toner, consumables, or only outline repairs. Without a suitable maintenance clause, you might be stuck paying extra if your printer jams has other issues that result in downtime.
Optimize Your Workflow Without Overextending Your Budget
When looking for office equipment, you want the best of both worlds in terms of your budget and efficient devices. That’s why Docutrend offers personalized office equipment solutions for businesses in New York, Totowa, Pennsauken, Edison, and Ft. Washington. We’ll easily find a printer lease tailored to your needs.
Docutrend uses a comprehensive approach, from personalized workflow solutions to hardware solutions like printers, copiers, and scanners. Contact Docutrend to improve your overall office efficiency, productivity, and effectiveness.