Office equipment is a necessary investment for all types of businesses, regardless of what size or how established they are. The problem is that many small business owners and startups don’t have the financial means to purchase new office equipment on the fly. Whether you lease or buy your office machines, they're crucial to the productivity of your business, so don't skimp on quality! Share on X
The Necessity of Office Machines
Leasing equipment is a good option for business owners who need to stretch their capital or who need equipment to be upgraded every few years. Purchasing equipment may be a better option for established businesses or for equipment that will be used for many years without upgrading. Should your lease or buy office equipment? The answer depends on each business’s unique situation.
Purchasing Pros
- You’ll have the option to sell the equipment if you don’t use it anymore or want to upgrade.
- You can make any alterations or upgrades you’d like without worry about penalties. Maintenance is up to you, so you can make sure problems get fixed on your schedule.
- There is no contract or agreements to make a purchase. Simply pay and you’re done.
Purchasing Cons
- There is a higher initial cost, which may prevent you from buying exactly what you want, forcing you to settle for a more affordable option.
- Once you buy it, it’s yours, even if the manufacturer comes out with an updated or modernized version soon after you buy.
- You’ll be responsible for all repairs and maintenance costs. This can get pricey depending on what kinds of issues you encounter.
Leasing Pros
- Leasing an office machine like a copier or fax machine allows you to stay ahead of changing technology. It’s ideal for machines that need to be updated regularly to keep up with your competition.
- Leasing is less expensive up-front and requires stable, predictable payments. It’s also tax deductible.
- You won’t have to pay for maintenance. The leasing company handles all necessary maintenance.
Leasing Cons
- If you’re paying interest on your lease, then you’ll end up paying more in total.
- Since maintenance is up to the leasing company, it may be difficult to get things fixed. You may not always agree on what the leasing company is responsible for.
- Since you sign a contract, you’ll be responsible for payments even if you aren’t using the machine anymore.
The Right Choice
In the end, the right choice is whatever option best suits your needs. Every business is different, and it’s important not to get too wrapped up in what other businesses are doing. Focus on what your business should be doing to operate with efficiency.
Contact Us to learn more about buying or leasing a copier or other office machine.