Copier Leases vs Buying New
Should I Lease a Copier or Just Buy a New Copier?
We are often asked which is better, to lease a copier or to buy a copier. Our answer is that it depends on the company. There are reasons to lease and there are reasons to buy the copier. When making the decision, you just need to understand what your organization’s goals are.
“What are some bad reasons to lease a copier?”
- To get a service plan. You do not have to lease a copier to get a service plan. A copier service plan can be constructed if you purchase a copier or if you lease a copier
- To get the copier cheaper. Copier leases are a fancy way of saying you are getting a loan. A loan has interest. Leasing a copier is not cheaper in the sense that you are getting a better deal. A standard 5 year lease on a $10,000 copier is $200 a month. $200 times 60 months is $12,000. The extra $2,000 is interest and goes to the bank.
“What are some good reasons to lease a copier?”
- You don’t have the cash in hand to purchase the copier
- Your accountant tells you the tax advantages make leasing more attractive because of tax deductions
- You don’t want to tie up that much working capital all at once
Ultimately, leasing a copier is simply a way to get the equipment financed. We can help you if you are looking to purchase a copier or lease a copier in Denver. We can explain the differences and help you understand exactly what you are paying for!