In today’s competitive era, a reliable office photocopier is a must-have. The market has plenty of options, and every model requires significant investment. For this reason, when opting for a printer or copier, business owners get confused about buying or leasing—which one is better?
Every business has unique requirements, and it is essential to consider the demand before finalizing anything. Experts suggest considering factors like the operation budget and the size and volume of the average print job. The types of print jobs also matter here.
If you are an office owner and stressing over this same issue, you are in the ideal place. Read this blog to learn the individual pros and cons of buying and leasing a printer. It will help you make an informed decision and a worthy investment.
Let’s start!
What is the Difference between Leasing and Buying an Office Copier?
It is mandatory to explore the differences before discussing the various advantages and disadvantages of buying and leasing business printers.
The main difference is the ownership of the printer. When someone takes printers for lease, they don’t own them. They can’t use it as much as they want and have to return the equipment after a period. However, the lease agreement provides a long-term use of the equipment. Thus, one can use it without worry.
On the other hand, buying a copier means you own that equipment. You can use it as much as you want and don’t need to return it to anyone. Therefore, it offers significant mental peace.
Buying a Business Copier
Office photocopiers play a significant role. They ensure the standard of deliverables and safer handling of essential documents. Thus, they are of paramount importance to office owners or management. However, owning one is a significant financial responsibility. Hence, one must explore its pros and cons before deciding.
Pros
One of the most significant advantages of buying a printer is the freedom and sense of accomplishment. It contributes to providing a well-equipped mailroom and boosts overall production. Take a look at its other advantages-
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No Monthly Payments
Owning a printer or copier means you don’t need to pay monthly, which means no monthly headache. Yes, you will need to pay once; however, it is one time only. Even if you choose an instalment plan, there will be a deadline. After that, using an office photocopier is peaceful.
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Boost Confidence
When you own an office photocopier, you don’t need to answer anyone for anything (be its usage limit or maintenance). It enhances freedom and boosts confidence. Additionally, it provides a mental peace, too.
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Control over Maintenance
Business printers come with significant price tags (depending on their brand, model and work capability). Thus, the owners stay very careful about its overall maintenance. Unlike the leasing or renting process, the owner can choose the perfect maintenance plan or package. It boosts overall control over the system.
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Boost Finance
When you own an office photocopier, you don’t need to pay a handsome monthly amount to anyone. It helps to save money. Now, one can argue that the individual has to pay the whole amount at a glance. You can only cover that as a business owner in a few months. Therefore, in the long run, it enhances the financial side of a company.
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Customization Facility
To meet the demands of this diverse market, companies often need to upgrade their copiers, such as adding extra paper trays or upgrading components. If you own a machine, upgrading takes only a few minutes and planning with an equipment supplier. However, you can’t upgrade it without permission if it is on rent or lease.
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Tax Benefits
Taxation is one of the most concerning topics for any business organization. Most companies adopt several ways to save tax and boost the financial base of the institute. Do you know that owning business printers can help with this? Yes, office stationary like printers, computers, etc., are tax deductible in Ireland.
The mentioned benefits are enough to establish its necessity in a business organization. Additionally, owning a quality printer contributes to smooth office work and boosts work standards.
Cons
Like any other decision, buying a printer also comes with significant disadvantages. Issues like high prices or higher down payment amounts fuel the fire. Here are some cons that an individual must consider before purchasing it.
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Requires Cashflow
The costs of printers are increasing every day. Hence, it requires significant liquid cash to book and own a printer. It can impose a burden on the company.
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Maintenance Cost
The latest copiers come with severely updated technologies and different capabilities. However, each needs significant maintenance, which can cause burnout. However, experts suggest comparing maintenance plans from different companies to get them at an affordable range.
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Difficult Disposal
The technology market is rapidly shaping. Therefore, many companies are changing their printers often. However, disposal is not easy and requires safer methods. For this, experts suggest hiring any company or specialist. Otherwise, an unsafe disposal of electronic goods can cause serious issues.
To cope with the industry’s mentioned issues, experts suggest making a proper financial plan. This will help create a perfect budget for buying and maintaining equipment.
Leasing a Business Copier
If you are starting your new venture, leasing or renting a printer is one of the best ideas. It ensures top-quality deliverables without any financial burden. It also provides the freedom to try different models or types of printers available in the market without any huge investment. However, if you are a newcomer, it is advised to explore various aspects before heading to the final stage.
Pros
One of the most prominent advantages of leasing a photocopy machine is its lower commitment level. Here are some worthy benefits of taking a printer on lease-
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Lower Financial Quote
The market has many options, and many companies are in this industry. Thus, you can get a top-rated copier or printer for lease at an affordable price. The most attractive part is that it can be one-third of the actual cost. Therefore, it makes no financial burnout.
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Competitive Edge
Every company must use updated technologies to stay relevant in this competitive market. Buying the latest printers or copiers can be impossible for a small company. However, the company can swiftly lease a printer or copier and complete the task.
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Predictable Expenses
You must pay the company a fixed amount when you take a photocopier on a lease. It helps to make an efficient budget faster. It contributes to planned and efficient financial management. On the other hand, unexpected expenses like a sudden breakdown are possible if you own it.
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Flexibility
Leasing comes with a contract, and a company can annul the contract quickly. It empowers the company to include newer ones in the system as needed. It helps to combat market changes easily.
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Needs Lower Expertise
Upgrading a printer or copier is an uphill task. It must be done accurately to avoid any damage. The ‘Printer copier lease’ service has a maintenance facility to boost user convenience. Thus, it helps the user get the upgrade without any effort or needing to hire an expert.
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Safer Handling
Disposal is one of the concerns regarding electronic equipment. A safe disposal helps to meet the laws and avoids any chances of accidents. When you take an office photocopier on a lease, the disposal is their responsibility. It reduces the complexity of the system.
Leasing has emerged as the best solution for small companies or those who don’t want to invest a lot in this. Its lower commitment level helps companies boost their work without any headaches.
Cons
Probably, there are no decisions that don’t come with any cons. Like that, leasing an office photocopier has its fair share of cons. Some of the concerning cons are-
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Rising Charges
Although several office photocopier lease companies are in the market, the cost is rising daily. This is happening because of the latest technology (they are trying to recover their manufacturing costs). Thus, many companies are already facing issues.
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Lesser Flexibility
To have the best experience, companies must choose flexible lease agreements only. This means the deal should be extended, affordable, and have easy cancelling options, etc. However, very few companies offer this.
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No Ownership
You don’t own the machine. Hence, you can’t change anything or use it as you wish. It limits the work freedom. Also, you must pay the penalty if any damage comes to the machine.
Well, these cons can indeed cause serious issues in the system. However, according to industry experts, proper research about affordable leasing companies and ideal planning can mitigate these issues.
Understanding Lease Terms and Agreements
Currently, many companies are opting for printers on lease in Ireland. However, it is not as easy as searching “Printer copier lease company” and hiring a company randomly. One must consider the terms and agreements of the lease before finalizing the deal to avoid any complications and work safety.
Note that a lease is a legal agreement with several terms and agreements related to the product. It states repairs, maintenance, and replacement of copier parts during the lease period. Thus, careful checking is crucial. Here is a list of things one must check in the agreement copy.
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Termination Clauses
Another significant advantage of leasing is its flexibility. One can annul the agreement anytime and opt for another office photocopier without investment or hassle. Some companies charge a handsome amount if the user cancels the deal before its tenure. Take a brief look at the charges clearly to avoid future complications. Additionally, ask the company to mention the reasons for this charge on the papers to ensure the highest transparent procedure.
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Renewal Terms
The printer copier lease company do have your payment details, and some of them come with an auto-renewal process. They will renew the agreement without your consent and deduct the money from your account. It reduces your freedom to evaluate the printer service and opt for new people. Therefore, consider it carefully.
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Maintenance and Up-gradation
Some companies do offer free maintenance. On the other hand, some charge a bit of money for this. Some provide free maintenance only for regular checking and charge for any outer damage. Discuss and check these terms correctly. Also, ask them to mention every charge (whatever they have) on the paper to avoid conflict.
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Monthly Payment and Usage Fees
You must pay a monthly fee when you take out a lease for an office photocopier. The amount must be mentioned on paper for a transparent work process. Additionally, the documents must be clear about the charges when the market price arises. This means it must clearly state if the ink prices start increasing or equipment (for maintenance) prices start growing and how it will impact the monthly payment.
The agreement also contains clauses or statements regarding excess usage fees to make the process more transparent. Let us mention that some printers or copiers come with a usage limit. The user needs to pay extra charges for excess print volume. Thus, the specific print volume and how it will increase and be measured must be mentioned on paper.
Before opting for a printer or copier, do not check its features only. Take a brief look at the agreement to avoid any extra payment, heated argument or legal battle. Additionally, try to be as detailed as possible on the paper (regarding the user terms and conditions, company policy, etc.). It will work as a weapon for you.
Comparing Costs between buying and leasing
Shopping for office equipment is exciting. Yet, before that, one must consider every possible aspect in the company’s best interest. The theory is also applicable to printers or copiers. Buying a printer is always a great thing to do because using an office photocopier is exciting. However, to save significant bucks, one must compare various cost factors. These cost factors significantly depend on whether the equipment is on lease or owned by the company.
If you are considering buying office printing solutions, here is a brief comparison of their costs.
Features |
Buying |
Leasing |
Upfront Cost |
It comes with a significant upfront cost. The cost includes the price and installation charge. |
Leasing comes with no cost because leasing companies do not charge anything at first. They install it for free. |
Monthly Expenses |
Once you buy the printer, there are no monthly expenses (if it is not in instalments). |
The user must pay the monthly rent or lease amount for using the office photocopier). |
Depreciation Issue |
The printer is a depreciating asset. Thus, the owner must be cautious about it and replace it at the ideal time. It can cause a financial pressure. |
The user doesn’t need to bother about depreciation issues. Once the agreement is over, the leasing company will replace it. |
Repairs |
The owner is liable for repairing and maintaining the printer or copier. It hikes up the overall cost. |
The user is not responsible for the maintenance work at all. It is all up to the leasing company. |
The comparison clearly shows that the user needs to pay an amount in both cases. However, the company does not need to spend a bulk amount initially for leasing.
Which Is More Cost-Effective: Leasing or Buying Copiers
Production costs are rising every day. To make a profit while balancing the high expenditures, owners take significant time to evaluate the cost-effectiveness of office equipment. The main goal is to examine whether it provides enough value (against its price) and whether the printer is not exempt from it.
According to experts, buying a printer is the most cost-effective decision if you have a large business. It indeed comes with a significant investment, but it can produce a lot. Many printers offer 42 ppm (pages per minute), which helps to meet the bulk workload. At the same time, the updated copiers are user-friendly. Therefore, the authority does not need to train the employees to use them. It enhances work flexibility.
Many can argue that it can be taken on lease. However, that does not provide ownership and limits user freedom. This means many printers come with user limitations (the monthly printing volume is mentioned, and if it exceeds, the user must pay more). Additionally, not all high-technology printers are available for lease. Hence, buying is the only affordable way.
However, you can consider leasing if you have a small—to medium-scale business that needs a limited printing job and serves specific clients.
Factors to Consider When Deciding Between Leasing and Buying
Financial planning is crucial for any business organisation. It helps to balance profitability and expenditures. Many think financial planning is only for big chunks like employee salaries or daily office expenses.
However, it is not ideal. It deals with every minute part, like office equipment. As the printer or copier comes with a significant price tag, as a business owner, you must consider various factors before purchasing it. This helps to evaluate its cost-effectiveness and saves money. Here is a brief list of the factors you must consider.
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Budget
Let’s be honest: The latest office photocopier will cost you a bit. Thus, if you have a reasonable budget, you can buy one. However, if not, consider leasing one.
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Printing Volume
Printing volume matters a lot. According to experts, having your office printing solutions is best if you have many printing jobs. It helps to lower the overall cost and makes the workflow smoother.
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Type of Works
The type of work also impacts this decision. For example, if you have a variety of clients to cater to, taking business printers on lease is the ideal decision. It will help to meet their diverse clients without investing huge.
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Maintenance Capability
Maintenance is mandatory if you want to save your office equipment, and it is applicable for printers, too. However, if you do not have maintenance resources, go for leasing. It will help you to protect yourself without taking much responsibility.
Remember, demand is the mother of all supplies. Thus, always consider the above pointers (demands) to get the best for your company. According to experts, one also evaluates the future of the business. They can lease printers if they like diversifying their work patterns (printing jobs). It will help them get everything at an affordable price without making any hustle.
Making the Right Choice for Your Business
Your business is always unique, even from your competitors. This is because everyone has their own way of administration, different clients, and different employee types. Thus, everyone should look at their requirements before buying equipment instead of copying someone else.
The printer is not excluded from this. It is costly equipment, and you must consider various factors before purchasing it. It will help you get the maximum benefits of your investment and add some value to your business.
Here are the factors you must consider
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Upfront Cost
The market is full of options. Therefore, you will get one even if you have a lower budget. However, before searching, decide your budget and the features you want. In the features, you can consider a single or multifunctional printer. An A3 multifunctional printer is a wise investment for your office. Its automated service can help you boost work speed.
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Future Expenses
Once you have completed the budget and printer choice, start working on future cost calculations. These calculations must include costs like cartridge replacements, maintenance, and energy consumption, which contribute to overall expenses.
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Printing Quality and Type
Consider the printing quality and type before finalizing the deal to meet your expectations and level up your deliverables. Check whether the machine prints colour images, the quality of images, etc. If all the factors meet your client’s demand and help to maximize your benefits, go for it.
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Additional Accessories
Checking the additional accessories is a must-have. It helps you to combat market changes and increase work volume. You must check whether you can add an extra feeder or increase the speed. Additionally, check if you need a multifunctional printer. It can scan, copy and fax at a time.
Opt for the Ideal Office Printing Solutions and Boost Your Workflow
Buying or leasing a printer or copier solely depends on your requirements, budget, and business structure. If you have a limited budget and diverse clients, you can lease. However, if you have enough budgets, require freedom on the machine, and have a specific set of clients, you should buy it.
If you are looking for a reliable printing service, you can choose the Munster Business Equipment company. They are one of the leading printing service providers in Ireland. They are known for their efficient team, quality service, and green policies. Yes, they follow a green policy, and it is helping them reduce waste and footprint.