When your Madison 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 copiers and office equipment.
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.
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.
When it comes to leasing Xerox copiers or laser printers, 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:
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.