Acquiring a copier or multifunction device for your business is a big undertaking. First, you must decide exactly what type you need, then you must decide on the brand.
With many reputable options like Xerox, HP, Canon, and Savin that can be a tough choice, but we can help you determine the best model and make for your needs.
And, finally, you must decide whether to purchase or lease your printer. The good news is, we can help you with that as well. There are pros and cons to both, so let’s take a look.
Perhaps the biggest advantage of leasing a Xerox or other brand is that you don’t have to worry about the technology becoming obsolete, which is inevitable in our fast-paced tech world. This is a bigger concern if you are looking for a specialty printer with tons of features and options. Basic printers and copiers have a long shelf life.
Another advantage of leasing—low upfront costs and does not require a long credit history, which is ideal for start-ups or small businesses. Leasing negates the need for equipment loans. ON the flip side, leasing means you pay interest. At the end of your lease term, you will have paid more for the printer or copier than had you bought it outright. You must weight the pros and cons of smaller payments stretched out over time against the long-term higher cost. An additional setback to leasing is that as your business grows and evolves, so do your print needs. While there might be upgrade options available, a new printer may necessitate a new lease, further stretching out your pay off.
Again, the biggest advantage comes down to financial benefit — buying a printer or copier is cheaper in the long run since you don’t have monthly payments or penalties.
Moreover, you don’t have to worry about any confusing contracts or maintenance agreements. Although, we recommend entering into a service or maintenance agreement, even if it is not required as it will save you time and money.
On the downside, purchasing a copier or printer is expensive and not a feasible option for many small-to-mid-sized businesses. Plus, when you own the device, you also own all of its maintenance issues, unlike when you lease. When you own the printer, you can recoup some costs by selling it when you are done with it. Although, you will still have to shell out the cost of a new or upgraded model when the time comes. As you can see there is no right or wrong answer; it depends on your business and your budget.