A printer is an essential piece of office equipment. But, it is also not the cheapest to buy and manage if you need an advanced model or more than one device for a large office. However, considering that in the competitive business world, businesses must think of ways to increase efficiency on a budget, many are tilting towards printer leasing instead of buying.
You may wonder why you should lease your printer when you can just purchase and own yours. This article will explain why you should consider printer leasing for your business.
The Major Differences Between Printer Buying, Printer Leasing, and Printer Renting
While you might understand the difference between printer buying and leasing or renting, many people erroneously believe printer leasing and printer renting are the same thing. However, while they have the same idea, they are not exactly synonymous. Knowing the differences between the three will further show why leasing your office printer might be the best option for you.
Buying a printer gives you ownership of the printer, and therefore, you own it for life or until you want to dispose of it. However, leasing or renting doesn’t come with ownership. The equipment belongs to a supplier who allows you to use it for a specific period in exchange for an agreed regular payment.
Therefore, when you rent or lease equipment, you only get access to it for the stipulated time agreed on in the rent or lease contract. In this context, both printer renting and leasing mean the same thing. However, the major difference between the two is the length of the term.
The term of a lease is typically longer than a rental. If you’re hiring to use a piece of equipment for a few months or less than two years, you can opt for a rental device. A lease, on the other hand, runs for years.
The overall cost of leasing a printer is cheaper than renting one for the same amount of time. This is because vendors usually give discounts when you are going for a longer term.
Now, it may seem like buying is the obvious best option because you’ll be owning the equipment. However, see the benefits of printer leasing before making a decision.
Benefits of Printer Leasing to Your Business
It may seem like owning your own printer is the best option for your business. But before jumping to conclusions about what you think is right for you, check out the benefits of printer leasing.
Cost-Effectiveness
Printers are not the cheapest equipment to own. Even a small table printer can eat into your budget. But you can spread that sizeable amount over several years with printer leasing. Remember that a lease is usually long-term, so you have time to spread the amount you’d have been expected to pay upfront.
Besides that, the cost of owning a printer doesn’t end with the purchase cost; you must also include maintenance and repair, as well as cartridge and ink or toner replacement. These costs can be included in your agreement and handled by the vendor.
Predictable Expenses
One of the major challenges of businesses is unforeseen expenses, so having predictable expenses is excellent for your budget. That way, you can plan your monthly budget without hassle, knowing no unannounced printer repair needs will arise.
Having negotiated the best monthly payment option for you and added it to your budget, you can enjoy manageable monthly expenses.
More for Less
When you’re buying a printer upfront, budget is a significant consideration. You have to consider what you can afford and juxtapose it with the kind of printer you need. And sometimes, you might need to compromise what you need due to budgetary constraints.
This will not be the case with printer leasing. You can go for the exact kind of printer you want and pay less for it. Therefore, if you want an inkjet printer or a multipurpose copier, you can lease one easily for a lower price than the cost.
Maintenance and Repairs
Unfortunately, machines do break down, and a printer is no exception. The need to repair it is inevitable. You also need to service and maintain the device frequently to prevent regular repairs or total breakdown. Not to mention that the ink and cartridges need to be replaced occasionally or regularly, depending on the type of printer.
All of these cost money that you’ll be saved from if you don’t own the printer. In that case, you won’t have to bother to pay for all of these; your lease contract can cover it. Just make sure it is included in the fine print. And as you meet your predictable monthly payment, you don’t have to worry about anything else.
Also, printer leasing gives you access to skilled technicians whenever your device breaks down. Unlike when you may need to search for an emergency repairer, you can get your equipment up and running again by simply placing a call.
Upgrades
As you know, technology is constantly improving, and models are often upgraded. If you bought a printer, changing it for a new model every so often will not only be impossible in some instances but could be prohibitively expensive as well.
However, by leasing, you can get access to upgraded models and technologies as they are launched without getting rid of the machine you own and spending a lot to get something new.
Also, as you scale, your business needs might change, and you might need a different kind of printer. A printer leasing arrangement can allow you to trade in the current model for a newer device and adjust the cost accordingly.
Tax Deduction
Businesses should always seek legal ways to reduce expenses and increase income. Printer leasing is a great way to do that because you can benefit from tax reduction by leasing your business equipment.
In the first place, buying a printer upfront may attract AMT (Alternative Minimum Tax), but it is not required for leasing equipment.
On the other hand, your monthly payments for the lease count as part of your business expenses, which can be deducted from your taxable income at the end of the year.
Environmentally Friendly
Disposing of a printer is not exactly straightforward, and if not done properly, it can cause environmental hazards. However, you can transfer that headache to the vendor when you lease. Fortunately, most office equipment companies have recycling and refurbishing programs that are environmentally friendly.
Enjoy the Benefits of Printer Leasing
Printer leasing is a generally cost-effective way to fund your printing needs. However, leasing might not be the best idea for every company. When you compare the benefits of leasing against your business needs and circumstances, you stand a higher chance of determining whether getting a printer lease is good for you.
However, if your priority is to streamline the outright cost and you don’t want to be bothered with the extra maintenance costs, you should definitely consider a printer lease. And if you are in the New York, Totowa, Cherry Hill, Edison, and Ft. Washington areas and need a reputable printer leasing company, check out Docutrend. Contact Docutrend today to get the best printer leasing deal for your business.