Rent or buy copier for your office? This is a question that many business or office owners have to contend with at one point or the other. A copier is an important addition to the office and knowing the one you need is an important step in the right direction. It is important to consider the features you need in your copier and once this is done, settle the question on whether you should rent or buy one for your office. To help you do this, let us look at the pros and cons of renting and buying a copier for your office.
So, should you buy or rent copier for your office?
Renting a copier or any other office equipment means that you will have it at your disposal for a period of 3 to 5 years. In case the copier breaks down or requires any kind of servicing, the leasing company takes the responsibility to repair or replace any parts that need attention. The charges levied for the copier leasing normally takes such scenarios or requirements into consideration and you do not need to worry about anything throughout the lease term. Once the term expires, you can renew the contract, buy the copier or return it to the leasing company in exchange for another one.
On the other hand, buying a copier translates to ownership and the responsibilities that come with such a move. This means that in addition to investing a large amount of money in the copier, you will need to take responsibility once repairs are needed or even when some parts require replacement. Although you will be covered by the manufacturer’s or dealer’s warranty, buying a copier leaves with the burden of repairing and maintaining it once the warranty expires and this is always a major challenge in many offices.
Pros and cons of renting
Renting is a great option as it requires a small amount of money upfront. It is therefore a good idea especially for small business or even large ones operating on a budget and unwilling to invest a large sum of money for a purchase. Renting allows office owners to access high-end copier brands which they would have otherwise been unable to afford if they wanted to buy. Another advantage of renting is that you do not have to stick with outdated equipment at this age and era. You can exchange your old copier for a better one if you want to enjoy quality features once the lease period expires. The disadvantage of renting is that the amount payable at the end of the day could be far much higher as opposed to buying owing to the interest charges. This could impact negatively especially for those with poor or average credit who end up paying even more.
Pros and cons of buying a copier for the office
Buying is advantageous in that it offers your office the full control. You can therefore schedule when to replace or service the equipment and everything is done according to your pace. Additionally, buying a copier is cheaper than renting when you consider long term financial implications especially if the leasing company is charging in terms of every copy you make. This is however determined by a number of factors such as the leasing period, copier price and your credit history. However, buying a copier also comes with its own share of disadvantages in that you will have to spend money in case repairs or replacement parts are required. You will also be stuck with your copier in case it breaks down or becomes outdated.
It is always important to look at the pros and cons associated with the two scenarios and this way you will be able to decide whether you should rent or buy copier for your office.