Is it better to buy or lease an office copier? Most if not all businesses need a copier. The question is – is it better to buy or lease one? There are so many points to consider when choosing whether to buy or lease an office copier and we’re going to go into them one by one in this article. By the end, you’d be certain which way is the right way to go for your business. Which copier brand is best? Once it’s established that you need to acquire a copier for your business, one of the first questions you will have will probably be “What is the best copier brand available?” When it comes to stocking your business with the perfect fit of technology, brand names do matter. In Malaysia, the most popular copier brands are How long should a copier last? This is important, especially for those who are considering buying a copier. Most copiers last between three to five years, under average circumstances and at maximum, high-end copiers and floor-standing models that are not used often may last up to seven to 10 years. But, no matter how well a copier is made, it’s just a matter of time before it becomes obsolete or incapable of performing tasks the way new and improved models can. And, of course, there’s the unavoidable malfunction. Even the best copier is going to require repair or servicing someday. What is the difference between renting and leasing an office copier? Copier rental and leasing sound similar and can sometimes be mistaken for the same thing, but they have one main difference which is that renting is for a short-term basis, while leasing is for long-term usage. So renting is suitable for when you need a copier for an event as opposed to leasing which is what offices opt for. Copier Leasing vs. Buying: Comparing Costs When it comes to office copier costs, the variation in prices can be rather dramatic. Commercial-grade copiers such as the Xerox Altalink C8055 are often more expensive than you could imagine. Whether you are buying or leasing, the end price of having a copier installed in your office depends on a few factors which include: With these factors put into consideration, you know that the price of your copier is mostly up to you. On the low-end of the spectrum, you can find a small, second-hand desktop copier starting at around RM 2,000++. On the other end of the spectrum, a high-end, commercial copier can cost as much as RM 60,000 or more. The costs differ by a huge gap so you will have to examine your current process and how you’ll use your devices in the future to decipher the perfect copier for your business. For leasing, the cost varies based on the type of copier you choose and the length of the lease. Most leases cost between RM 68 and RM 188 monthly but could be much more based on the factors listed earlier. The Pros Of Office Copier Leasing Before we determine which is cheaper and most effective, let’s explore the advantages and disadvantages of both options — starting with leasing. Lower Out-Of-Pocket Expenses The most mentioned benefit of leasing is that it has lower out-of-pocket costs as opposed to purchasing a copier or printer outright. It could cost several hundred or thousands of dollars out of the cash flow to buy a copier and for most small businesses, that’s simply not reasonable. With leases, you can easily acquire the latest technology without shelling out a lot of cash and enjoy benefits, such as repairs and maintenance being included in the monthly lease fee. Flexible Commitment Typically, the longer the lease period is, the smaller the monthly fee will be, but you can choose the lease period that suits your budget best. Your lease period can be as short as 12 months or as long as 60 months or more. Tips: If you only need to rent a copier for a short project/event, opting for a short-term copier rental is more beneficial. Companies that offer laser printer and copier leases are usually flexible with lease terms and conditions and require less commitment from their clients in comparison to buying. Predictable monthly payments Knowing exactly how much you’ll pay each month for the copier is helpful for budgeting purposes and keeping a better eye on your expenses. Option to upgrade With the constant upgrades in technology, this is a huge pro. When your lease term expires, you can trade in your old copier for a newer model with better technology. Tax Benefits If you choose to lease your copier, each leasing fee can be considered an official business expense. Business expenses like this one can typically be used as a write-off on your yearly taxes, which can help lower your taxable income. The Cons Of Office Copier Leasing While leasing can be quite cost-efficient, it also has a few downsides which include: Higher long-term costs In the long run, you could easily find yourself spending more on leasing a copier than you would have to buy the same one. A RM 2,000 copier could end up costing around RM 5,000 if you spread the payments over five years. Locked Lease Periods While leasing companies may be flexible with the payment, they’re not as flexible when it comes to breaking your leasing agreement. It’s difficult to get out of a lease, even if your needs change you will have to stick to it until it expires. Once you sign the agreement, you’re stuck making the payments for the remainder of the term, even if the equipment is not being used. So you’ll need to carefully consider the terms and conditions of the lease before you enter it. No Immediate Ownership The third and final disadvantage of leasing is that it doesn’t give you ownership of the leased copier. Instead, the device remains the property of the leasing company. Although some companies offer the opportunity to buy the …
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