A copier is a must-have for any business. Employees need copying machines to print, scan, or photocopy documents. As a business owner, your main concern is finding a way to get the copying machine your business needs without breaking the bank. Besides the cost, there are few reasons why you should rent instead of buy a copier machine.
Is a copying machine an asset or a liability? Like a car, the value of a copying machine depreciates over time. Add the costs for servicing and repairing the machine and you could be looking at hundreds of dollars. Leasing a copier removes the burden of liability from your shoulders. There are no upfront purchasing fees an you can include a maintenance package in your lease agreement. This gives you more money to spend in other areas of your business.
Owning a copier machine means that it must be listed as an asset. As previously stated, this asset will depreciate in value according to a standard depreciation schedule. In a lease arrangement, however, the cost of the copying machine is immediately deducted. Consequently, you don’t have to list it as a depreciating asset.
Cost of the Machine
Copying machines are expensive purchases. Leases provide the perfect strategy for getting the powerful machine your business needs without having to pay high upfront costs. Furthermore, some lease agreements provide you with the option of buying the machine at the end of the lease while others include the buyout amount in the monthly instalments s that the final balance is $0 at the end of the lease. The possibility also exists to create a new lease agreement for a machine upgrade at the end of the lease. This option is particularly beneficial for business’ that use multiple machines. Staggered lease agreements for the machines result in the leases ending at different times. You can, therefore, acquire new machines more regularly.
Keeping Up with the Market
As previously stated, you have the option of upgrading to a newer machine at the end of your lease. This ensures that you always have the latest technology. You want to keep up with or even surpass your competitors, not lag behind them. Imagine having to pay for the latest copier machine in full. You’ll be dishing out major bucks and scrambling to find ways to save money in other areas of your business. Leasing is, therefore, the better option.
Leasing is the best option if you need a right copier for your business. It makes having these latest and best equipment more affordable, reduces maintenance costs, and limits your liabilities.
Make the right choice for your business today!
To understand more about the difference between copier lease vs copier rental, click here.