Two types of business owners exist: those who like leasing office equipment and those who prefer to buy. Which option do you lean toward? There are several good reasons to consider copier leases in Scottsdale, AZ instead of purchasing. Here is a comparison of leasing versus buying to help you decide which choice might work best for you.
A benefit of leasing a copier for company use is that you can get your hands on one with minimal up-front investment. Initially, you are not spending the amount of money you would have otherwise paid to own the machine. However, down the road, leasing a copier usually ends up being more expensive than buying. At the same time, another plus is that your lease payments can be deducted on your tax return.
The up-front costs when buying will be higher than leasing. The cost depends on the type of copier and whether you are using a loan to buy several pieces of equipment. An advantage of buying is that you can deduct a portion of the machine’s cost (conditions apply).
Upgrading to newer technology
If you lease a copier, you will be able to trade up for the latest and greatest model after your lease term is up. New copier models come out every few years; therefore, leasing keeps you from having to use outdated machines.
Purchasing an office copier means it’s up to you to sell your old one and buy a newer model when the time comes. There’s no lease to automatically update the copier for you. Because technology changes rapidly, seriously consider whether buying is the better route to take for large office equipment.
Terms and conditions
Office copier leases are easier to arrange than small business equipment loans, and the terms are more flexible. However, your business will end up in a longer-term agreement. And if you need a different copier before your lease is up, many companies will charge early termination fees. However, at Click Copiers – Scottsdale, you can change or cancel your lease with no penalties or fees!
A cash sale means you don’t have to deal with a lease agreement and your lines of credit won’t be tied up, as opposed to having a loan. Owning the copier allows you to sell it whenever you want to recover the cash invested.
Leasing a copier does not help grow your credit, which can play a role in getting a business loan later.
You can put the business assets that you own up as collateral to secure a small business loan—this includes copiers, multifunctional printers, computers and more.
Maintenance and repairs
Most copier lease agreements include regular maintenance at no extra cost. The company will send out a repair technician to service your copier should it start acting strange or breaks down.
In short, owning the copier means you pay for all the maintenance and repair needs—including hiring a technician and paying for parts and labor.
Interested in copier leases in Scottsdale, AZ? Contact the team at Click Copiers – Scottsdale today to learn more about our leasing program and how it can benefit your business or organization.