According to some statistics, employees print 10,000 sheets of paper in the office each year. If your employees are making that many copies and printing documents, you might start wondering whether you should rent a copier or buy a copier.
There are pros and cons to getting an office copier. Make sure you keep reading to make an informed decision before you invest in a business copier.
Renting a Copier
When you choose to rent a copier, you’ll sign a contract with a supplier for a set amount of time.
They’ll loan you whichever copier you choose. You’ll have to give the copier back when your contract is up if you decide not to renew it.
There are many advantages to renting a copier, including having access to all kinds of different capabilities. You could get a laser copier, which can also fax, scan, print, and copy.
Some of the contracts also come with ink contracts as well. So if you run out of ink during your contract, they’ll deliver you ink free of charge.
You can also get high-quality devices. These are the same styles that you could purchase, but you’ll save money by only getting one when you need it.
Depending on the contract, you can make monthly payments on a lease. Then you can decide whether or not you want to purchase the equipment or keep it longer. Having a monthly budget will help you know what expenses you’ll have to incorporate into your business budget.
There is also the option to get software solutions with your lease agreement. You could get something like PaperCut, eConcierge, Single Sign, or DocuSense.
However, there are still some disadvantages to choosing this option. Depending on how long you’ll be using the copier, it may be more expensive in the long run.
For example, if you rent a $2,000 copier, it may cost even more if you rent it for five years. Whereas if you had just spent all the money upfront, you could’ve saved some money in the long run.
You’ll also have to keep paying your contract even if you decide that you don’t need the copier even more. You’ll have to make payments for the whole length of the lease period, even if you change your business needs.
Buying a Copier
On the other hand, you could buy a copier. This will mean that you own it, and you’ll pay everything up front rather than pay someone monthly.
You’ll have complete control over the machine, maintenance, and service.
When you start looking at office copier prices, you might realize they’re expensive, but if you can afford the money upfront, it might be cheaper in the long run.
It’s also really easy to buy the equipment. You’ll decide which model you want, and then either buy it in person or have it shipped to your business. When you lease the copier, you’ll have to do a bunch of paperwork and complete a lot of financial firms for the leasing company.
You’ll also be in control of all maintenance. You won’t have to do maintenance according to a leasing company’s terms, which could get expensive.
When it’s your own, you can come up with your own maintenance schedule and handle any problems all on your own.
If you’re going to want a copier long-term and you know that your employees will use it often, it makes sense to buy a copier. In the long run, you’ll end up getting your money back on your investment.
While being fully responsible for the machine might be a good thing, it could also come up with some problems. Being responsible for all the service and maintenance means that if it breaks, you’re in charge of paying to fix or replace it.
Some businesses also just can’t afford a new copier upfront. If you’re not in a good financial position right now, it may be easier to get a line of credit or financing to lease a copier.
Keep in mind that if you do buy a copier, eventually it’ll become outdated, and you’ll have to buy new equipment. This means that if you’re a small business with the intention to grow, you might be stuck with outdated equipment unless you replace it every few years.
When you have to get rid of it, you’ll need to find a place to recycle, sell, or donate it.
Other Factors to Consider
If you still aren’t sure what the right decision to make is, there are still some other factors to consider as well.
If you’re going to rent, how long is the lease? Normally for office equipment, it could range anywhere from 36 to 60 months. If you get a longer lease, your monthly payments will be lower.
But, you’re also more likely to pay more over time if you have a longer lease. If you want a long lease, it would make more sense to buy a copier.
You’ll also need to find out if you need to ensure your equipment. Some leasing companies require you to buy insurance as well. If that’s the case, your monthly fee will go even higher.
At the end of the day, look at what you want from your copier. Do you only have small requirements and have the money? Buy a copier.
If you only need one for a short time and don’t have the cash up front, it makes more sense to rent.
Learn More About Whether You Should Rent a Copier or Buy a Copier
These are only a few of the benefits or advantages to rent a copier or buying one. Before you start shopping around, set a budget to ensure that you find a solution that works best for your business.
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