Ask These Questions Before Leasing Office Equipment
If you’re running a busy office, chances are high your photocopier needs will be considerable.
But you’re not just looking for a copier. You’re looking for a reliable piece of office technology that can function reliably, experience as little downtime as possible, and be affordable.
It’s for those reasons that most companies—even companies with large-scale photocopying needs—lease their machines. But before you sign up for a lease, it’s a good idea to know what’s involved. Here are five questions you should ask before leasing your next office copy machine.
How Does Leasing a Copier Work?
Typically, copy machine leases come with two options—operating leases and capital leases.
Monthly payments for operating leases tend to be lower, and you have the option of purchasing the copier when the lease is up. The cost of that purchase may vary slightly, depending on current technology, market demand, machine depreciation, and any other terms included in the lease agreement.
A capital lease is more like taking a loan for the copier. Payments are higher, but the principle goes toward the cost of the copier. Should you exercise the option to buy out, the price has already been negotiated as part of the initial contract.
Why Lease When you Can Rent?
Leasing allows you to lock in a contract, so the terms and costs are settled beforehand. Renting sometimes results in terms that can change with little warning. Renting tends to be more suited to short-term projects than as a full-time piece of office technology.
What Type of Copier Should I Lease?
That depends on your needs and budget.
Inkjet copiers can be slow and require frequent ink replacement, but their initial costs are lower. Laser copiers are very popular for businesses due to their production speeds, toner efficiency, and high quality, but they’ll cost more than an inkjet copier.
Digital copiers bring a lot of added functionality. They’re similar, in many ways, to laser copiers but can also scan and save documents. Scans can be exported to other media or saved for later printing.
How Much Will Leasing a Copier Cost?
Rates differ depending on the company, but the general range can from $100 a month to $250. The type of copier and number of special functions are both factors. The good news is that most copier companies are willing to make their pricing available to you for easier comparison rates.
Can I End My Copier Lease Early?
Most copier leases involve a 24 and 36-month contract, although some businesses may select a more extended contract period in exchange for lower monthly rates. If you think you may want to get out of the lease early, make sure to review your contract thoroughly before signing.
One thing to look out for is an auto-renewal option. By canceling auto-renewal, you should have a window of time to cancel the lease before it has to be renewed.
Should I Buy or Lease My Office Copier?
There are advantages to leasing. For one thing, when you’re done with a copier or wish to upgrade, you’re not stuck with having to dispose of or resell the old copier. Technology is constantly improving, and you don’t want to get weighed down by an obsolete piece of machine. Options for upgrades should be part of your lease agreement.
Also, note that leasing tends to be cheaper than purchasing or renting, although the downside is getting locked into a two or three-year contract. You want to research costs and budget ahead of time. If your business only produces a few hundred copies a month, a multi-function off-the-shelf copier from an office supply store will likely suit your needs and budget well enough. But if your business’s copy count nears or exceeds a thousand per month, and you can afford a monthly lease payment, leasing makes the best sense.
Making the Best Decision For Your Business
If you have more questions, feel free to consult with experts in the world of office machine technology.
The professionals at Carolina Business Technologies, Inc. are more than happy to answer any questions you may have so you can make the best-informed decision for your business.