Should you buy office equipment or just lease it? It’s a question many startup offices have to think about—even for basic equipment such as printers. As the following excerpt from Entrepreneur Magazine will tell you, it truly depends on what you want to achieve:
The decision to buy or to lease computers and other equipment necessary to do the job often comes down to the cost of total control vs. flexibility.
Both options have their advantages. Buying is straightforward: Just figure out what you need and look for the best price (or combination of price, warranty, service, etc.). You can deduct the entire cost of the equipment from your taxes in the first year, or you can choose to spread it out over several years.
Renting or leasing doesn’t provide as big of a deduction. But there’s a substantially smaller upfront cost, which frees up money to be invested elsewhere, while the cost of upgrading down the road is minimized.
If your office has opted to lease a printer, there are a few things you should know before you commit to the services of a printer leasing company. Some of these things include:
There are several types of office printers. Some models function solely as printers, while multifunction printers are capable of photocopying and/or scanning. Each model will come in different price ranges. Naturally, you do not want to under buy or overbuy, so make sure that you factor in the volume of items you need to print out.
In the case of multifunction printers, make sure that the ones you choose truly are capable of multitasking. Some models may simply be an “all-in-one” type, but cannot run multiple functions at the same time.
Ease of Integration
Although printers all have the same end goal, do not underestimate the fact that they are made by different manufacturers. Some printers may be more compatible with your existing computer network than others. If you are unsure, do not hesitate to ask an experienced Albuquerque printer leasing service, like Albuquerque Image Products, which printer is a good fit with your current IT system. This is especially important if the printer your office will be leasing is a multifunction printer.
Ask What Happens After
Carefully read your contract with your leasing service, especially the section that discusses what happens when the lease is nearing its conclusion. Will it automatically renew for another year if you do not signal an intention to return the machine? Knowing these details can help save you from surprises later on.
(Source: The Pros and Cons of Buying vs. Leasing Office Equipment; Entrepreneur Magazine; July 30, 2013)