The Advantages of Leasing Copiers
Photocopiers are some of the equipment you need to give first priority when starting a business that’s going to deal with a lot of documents. But sometimes you may need to use the equipment just a few times. Hence you need not spend so much on buying one.
The good news is that leasing copiers save your business some cash. You don’t need to suffer a financial strain buying expensive equipment when you can just lease.
While some companies prefer buying once and for all, those that lease benefits more. So, if you’re torn between leasing and buying your photocopiers, you should read this article.
Leasing Copiers Saves Money
When launching your business, you might not have enough money to buy expensive equipment such as copiers. To buy these kinds of equipment, you might find yourself taking loans that can be too expensive to finance. Photocopier leasing comes to your aid, saving you from paying the lump sum.
Leasing copiers is cost-efficient as you won’t have to pay the amount upfront. Leasing agreements come with flexible monthly payments, which are more affordable for your business.
Leasing gives you total control of the amount you’re going to pay every month. You can direct the extra money on running other vital aspects of your business. Whenever you have no tasks that require the use of copiers, you’ll not lease for the period.
With a lease agreement, you can access the machine when you need it. You can work on a payment that meets your business needs for a specific period. There are no additional expenses that come with the lease agreement, and you’ll not cater to the maintenance costs.
Leasing copiers come with some fantastic tax advantages. Buying a copier only allows you to deduct a set amount every year according to the depreciation schedule. What this means is that about 40 percent of the purchase price will get deducted for the initial year and then 25 percent for the following years.
If you lease the equipment, you’ll deal with pretax expenses. Every payment that you’re going to make for the equipment will be considered business expenses. You’ll need to deduct the payment every time you make a lease.
You’ll not only deduct the full price faster but also deduct repair, maintenance, and other services needed. Leasing will help your business conserve its cash flow and save a lot in the process.
Leasing Gets You Updated Equipment
With things changing with technological advancements, your office copier can become useless within no time. There is no single item in the IT world that can stand the test of time. Even that equipment that looks new and useful may become obsolete as soon as more efficient ones grace the market.
Imagine buying new equipment only to dispose of because it doesn’t have the new features that come with modern equipment. You don’t need such unnecessary expenses for your business. But you’ll also not use old copiers when your competitors are enjoying the efficiency that new ones bring.
If you lease the copier, your leasing company will be the one tasked with disposing and replacing them. All you have to do is ensure your copiers come with a lease term of, say, three to four years. Once this agreement is over, they can take the equipment, and you get a new agreement for modern ones.
Therefore, it’s cheaper to lease copiers and other equipment that lose their competitiveness after just a few years of use. It’s much easier to upgrade to newer equipment that will support the growing needs of your business if you choose to lease instead of buying.
Leasing Copiers Provides Flexible Payment Terms
When you decide to buy a copier for your company, you might need to take a loan to finance it. Loans put your business at a fix because you’ll have to deal with strict terms and high-interest rates. In the long run, servicing the loan might end up being more expensive than the value of the copier.
On the other hand, leasing comes with flexible financing terms that are less likely to put your business at a fix. Leases are easier to get and are more flexible. Even with a bad credit history, you can still manage to negotiate an extended payment period with your company and come up with a manageable deal.
No Breakdown Risks
Expensive machines, such as copiers, are also expensive to maintain and repair. Sometimes, the equipment can breakdown in the middle of an important task, and your business might not have the capacity to repair it immediately. Even if it still has a warranty, following up with the seller can be a tedious process.
With a lease, your business won’t carry the risks of breakdown or deal with repair costs. The leasing company ensures all the repair and maintenance of the copier. In cases where the copier can’t function anymore, they’ll have to replace it with another one so you can continue working as if nothing happened.
Should You Lease or Buy Your Copier?
From the benefits above, you must already know the answer to this question. Copier for lease saves you the upfront costs for buying, repair, and maintenance costs, and you can easily access new upgrades at a low cost.
With that in mind, there’s only one company that you should think of for your copier and office solutions. You can trust Visual Edge Technology companies to help you with the lease of your IT equipment and tools. Get in touch with us, and let’s help you work smoothly.