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Buy or Lease? Pros and Cons of Both Device Options

buy or lease

When your Wisconsin business is ready for a new Xerox multifunction printer or copier, you must decide if purchasing or leasing is the best option.

While there are advantages and disadvantages to both choices, what it boils down to is which is the right decision for your business needs and budget. To help you in your endeavor, let’s take a look at the pros and cons of both buying and leasing Xerox office equipment.

Buying a Copier

If you have the up-front capital or are purchasing for a large firm, buying an MFP is a great option. This is a particularly wise option if you already have an in-house IT and maintenance department. If you are a small-to-mid-size business with a limited budget and staff, buying outright may not be the most pertinent choice.

Additional Advantages:

  • Overall, purchasing a copier is slightly less expensive than leasing.
  • You pay up-front and don’t have to worry about contracts or agreements.
  • The next time you are ready for a new device, you can recoup some of your money by selling it back.
  • Your expense is tax-deductible.

On the disadvantage side, any time you want or need a new Xerox device, you have to purchase a new one, versus being able to upgrade through a lease agreement. Purchasing costs more upfront and, if they are not included in your acquisition, maintenance costs can add up. And, just like buying a car, your asset will depreciate in value over time.

Leasing a Copier

When it comes to leasing a Xerox copier or laser printer, there are several advantages for small businesses or startup companies. Although the long-term costs will be higher, the upfront expenses will be less, and payments will be broken up monthly, which is often easier to manage.

Some additional advantages include:

  • Leasing is more budget-friendly, with little to no initial costs, as well as long- and short-term contract options.
  • You will always have the latest, most up-to-date devices when leasing, plus you can upgrade often to ensure that you always have the best technology for your needs.
  • You can often save money on maintenance since most lease agreements include maintenance package options.
  • Unlike purchasing, you don’t have to worry about depreciation, and your monthly payments are tax-deductible.

On the flip side, there are some disadvantages to leasing for Wisconsin businesses, including that your monthly expenses increase since you have a monthly lease payment. Plus, in the long run, you do end up paying more for your Xerox device when you lease, and you are locked into a contract. Finally, when you are ready to switch, you can’t sell the device to recoup expenses since you don’t own it.

Still not sure which option is right for your Wisconsin business? Keep reading to learn more about leasing versus buying.

Article Type: 
Blog