If you are starting a new business, you might be wondering which option is the best between buying or leasing a photocopier. Buying and leasing depend on several factors, such as the time you require the machine and the kind of task you do. In the past, a photocopier machine was used to make photocopies. With the advancement of technology, you can use it to scan, which was not the case several years back. This decision requires an understanding of the pros and cons of photocopier leasing and buying. In this article, we help you understand both the benefits and disadvantages of buying or leasing.
Benefits of Leasing a Photocopier Machine
Help You to Keep off Competition
Leasing a photocopier machine helps you stand out and curb competition as a small business. Being able to acquire such technology in photocopier as a small business, will help improve your sales by attracting even more customers. In case you start a large-scale business, it will help you save much time by its ability to multitask from printing, copying, and scanning.
Leasing Helps to Keep Your Machine up to Date
With the technology change, you can acquire new technology by leasing it. The copier machine technology and its relevance in different jobs decrease with time as some get outdated. Having the leasing option, you will acquire a newer and faster machine.
Challenges of Leasing a Photocopier Machine
You will have Paid More in the Long Run
The total interest you will pay at the end of the leasing period will be more than if you could have bought it. This is as a result of the interest rates accumulated over the period. You will also be required to spare some more money in the case, the photocopier machine faults or spoils in your hands.
Pay for the Machine Even If You Are Not Using It
As business changes with time, in case you leased equipment and no longer use it, you might still end up paying for it depending on the leasing agreement.
Benefits of Buying a Photocopier
Easy to Maintain
The leasing company dictates the specification of maintaining their equipment. You should adhere to this requirement failure which might lead to a fine or termination of the leasing policy. However, if you buy the machine, the maintenance time and day depend on you. This enables you to save time and plan yourself accordingly.
Easy Process for Buying
The process of buying a machine is easy and not complicated. Unlike the leasing option, you can bargain the amount to the desired amount. You also get full ownership of the equipment once you buy it. This also helps to have unlimited access and usage to the machine.
Disadvantage of Buying A Photocopier Machine
Ending Up With Outdated Machine
Buying a new machine is good and can help you accomplish the most task required. However, because of shear and tear and the advancement of technology, you might end up with an outdated machine. Your equipment value will also decrease significantly in case you want to resell it.
When choosing to buy a photocopier, it is good to define the work you want to use it. Check the factors above to know what option will favor your need.