Color Copier Leasing vs Purchase
If you are ready for a new office color copier, perhaps you have given yourself time to think about the features and options you need. Maybe, you have even settled on a particular model. Now it is time to decide. To lease or to buy? Leasing a copier or a piece of office equipment is just similar to leasing a car. Essentially, you are renting the machine for a period of years. Maybe three to five years. If the copier breaks during that period, then the leasing company will pick up the tab for repairs. When the Color Copier Lease term expires, then you can just return the copier.
On the other hand, buying a copy machine is self-explanatory. You purchase the machine outright for a lump sum. Once the warranty expires, you are on the hook for any repairs that need to be done. The machine is yours to keep for as long as, it functions properly and meets your home office or business needs.
Leasing requires little or no money upfront. Thus, it is a great alternative for companies that are short on funds or those that need to save capital for other expenses. Many times, leasing enables companies to buy a higher-end and more expensive color model than they would have been able to purchase themselves.
Leasing also means that you have never stuck with out-of-date equipment. Technology changes fat. A color copier that is state-of-the -art today might be phased out or obsolete in five years. With a lease, you can upgrade to the latest and greatest technology every few years. The greatest disadvantage of leasing copiers is that you will end up paying more for the machine in the long run. This is usually due to interest charges. If you have poor or even average credit, those interest charges could be high, and be also warned that some leasing companies charge on a per copy basis. Exceeding your monthly minimums could result to a surprisingly large bill.
Buying outright appeals to some companies simply because they have full control of the color copier, you decide when to have it serviced and when to have it changed. If the machine breaks down, you do not have to follow the leasing company’s procedures or wait for their technician to show up. Simply call your repair company of choice. As mentioned, buying is also significantly less expensive over the long period than leasing. Buying also needs a significant cash contribution upfront.
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