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Printers, copy machines are necessary tools for most small businesses. They help to organize and distribute information throughout your office and to clients, which is essential to your success. But they can also be an expensive investment that you just aren’t ready for. We get it and want you to have the best machine for your business’ success. That’s where leasing comes in. But before you sign on the dotted line, here’s what you need to think about:
Consolidate your devices
Before you do anything crazy — like leasing or purchasing a copier, scanner and printer — think about consolidating. A multifunctional printer can do everything you need, take up far less space and cost considerably less than leasing or purchasing all three. Leasing an MFP means one contract and one machine to worry about and will make your lease and your life much easier.
Copiers range in price based on the technology you need and want in your MFP. If you want the best of the best with all the bells and whistles, you are going to have to pay for it, leased or purchase. And the newer the technology, the higher the price tag, but we honestly think it’s worth it. So when you’re looking at price points, consider this: purchasing an older MFP may be appealing based on the low price, but leasing a brand new model will mean reliability and capability. We think it’s worth it since newer technology is less likely to break down and more likely to do everything you need easily.
The scariest part of upgrading your printer or copier is the initial investment. With a lease, a down payment isn’t usually required — like most loans. Any cash you pay when you receive the machine is typically applied to the rental payments. And with fixed payments that are locked in for the duration of your lease, you can plan your monthly or quarterly expenses, no problem. On top of that, lease terms can be flexible. Want to upgrade sooner rather than later? Sign up for a shorter term. Need smaller payments? A longer lease will do that for you.
When you lease your office equipment, the full value of the payment is deductible as a business expense. But make sure you’re careful with it comes to lease to own arrangements as that may be determined as a capital lease, complicating the amount of your write-off. Make sure you fully understand what kind of lease you are signing up for before you commit.
Supercopier or bust
If you want your business to stay at the front of the pack when it comes to technology, leasing is definitely for you. Copier and MFP technology is updated at such a rapid pace now, after a few years your machine will probably be out of date. A problem when you own the machine and have to pay for a new one to replace it, but not so much when you’re leasing. With a leased device, you have a fixed term and at the end of that period, you can upgrade without worry.
Before you hop on the copier or MFP train, make sure you have a good idea of how your business uses your office equipment. That includes number of prints, as leases often involve a charge per copy of copy minimum per month. But once you’ve established your copy and printing needs, you can determine what kind of MFP and lease is right for your small business.