Copier Lease Price Vs. Copier Buying Price
How Much Does Copier Leasing Cost Vs. Buying A Copier?
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For all the talk of an increasingly “paperless world”, this reality has yet to manifest itself in most businesses. Digital copiers remain office workhorses, churning out the documents that put information in the right hands. The major decision facing a business when it comes time to pick up a new copier is whether to lease or buy the machine. Most businesses choose to lease a copier for reasons of convenience. If going this route, be sure to read the fine print so there are no surprises.
The Benefits of Leasing a Copier
Reasons to lease a copier rather than purchase one outright include the following:
- Latest equipment: The rapid evolution of technology makes most office equipment obsolete in a few short years. When you own a copier, you bear the full burden of obsolescence. The leasing company, however, bears the burden in a lease agreement. At the end of the lease term (or sooner, depending on the provisions) you can simply upgrade to a newer, more efficient copier and hand in the now-outdated machine.
- Financial flexibility: Office copiers, which can cost $5,000 to $40,000, are a significant investment. For new businesses especially, tying up this much money in a single purchase can severely limit other expenditures.
- Service included: A copier lease typically includes a service agreement that covers routine maintenance as well as mechanical hiccups. Make sure, however, that you understand what exactly is covered (and not covered). You may also have to follow the leasing company’s maintenance specifications.
Copier Leasing Pros Vs. Cons
Below are some points that should be kept in mind before signing a copier leasing agreement:
- Assessing needs: As with a vehicle lease, a copier lease can make it possible to take on more machine than could otherwise be afforded. Focus on the bottom line of how many copies your business makes per month, what the approximate cost per copy is, and which copier features are needed. Don’t be persuaded, in other words, into leasing a Porsche when a Honda is more than capable.
- Copier Lease types: There are two major copier lease options: a capital lease or an operating lease. Capital leases essentially treat leased items as owned items and confer the benefits (namely tax depreciation) and drawbacks (such as obsolescence) of ownership. Operating leases, on the other hand, provide none of the benefits and drawbacks of equipment ownership.
- Copier Lease Terms: It’s typically difficult to back out of a lease, whatever the reason might be. Understand the consequences (if any) of terminating a lease or paying it off early. Also bear in mind that many lease agreements auto-renew, so don’t miss your exit opportunity. Another major consideration is whether or not a buyout option is offered and if so, whether it’s a fair-market value (FMV) buyout, a dollar purchase option (DPO), a ten-percent option, or something else. In addition, be aware of any overage charges for exceeding your maximum monthly print amount. Finally, know that a longer lease length (leases usually last 24, 36, or 48 months but some go up to 60 months) makes for lower monthly payments but higher overall capital expenditure.
Average Copier Lease Costs
Typical Copier Leasing Prices and Terms
- Expect to pay a price of approximately $75 to $300 per month for the average small business copier leasing plan. A base lease rate usually, but doesn’t always, include a service agreement.
- The actual cost of a copier lease depends on the lease length, the copier value, and the interest rate (which is affected by credit history).
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