If your business needs a printer, you have the option to buy your own machine or lease one through a managed print services company. But which of these options is best? The answer depends largely on your company’s unique printing needs and what your priorities are. Keep reading to learn the pros and cons of both options so you can make an informed decision for your business’s equipment.
Pros of Leasing
Leasing your office printer allows you to avoid being saddled with an obsolete model. Technology is constantly evolving, and if you want to always have the newest models without having to buy a new one every few years, then leasing is a good option—especially for specialized printers with high-tech features that are more likely to experience significant upgrades each year.
This option also offers a low upfront cost, which is great for small businesses with limited credit and capital funds. Rather than paying the full cost of a new printer upfront, you can pay a much smaller monthly cost instead.
Most companies that lease printers also offer maintenance plans, which minimizes the amount of work you have to put into maintaining this machine. You also don’t have to worry about disposing of an old machine when you are ready to replace it, as the company will simply haul it away for you.
Cons of Leasing
Though the upfront cost is lower, leasing does cost more in the long run, and you’ll usually end up paying more than the actual cost of the printer due to interest and fees. Leasing also locks you into a contract, which can sometimes be difficult as your business grows and changes, as it doesn’t allow you to adapt your equipment efficiently to meet your needs.
Pros of Buying
Buying is less expensive in the long run because you’re not paying interest, and you can recoup some of the cost when selling your old equipment, whereas a leased printer would just go back to the company. You have more flexibility in your printer’s maintenance, and you’re not stuck in a contract, so as soon as the printer no longer meets your needs, you can replace it without worry.
Cons of Buying
Though it’s cheaper in the long run, buying has a very high upfront cost. You’ll need to produce the full amount of the printer from the get-go, which can be difficult when you have minimal capital. The maintenance costs also fall on you, which might mean facing unexpected expenses as your machine ages.
The decision to lease or buy your business printers in Fairbanks, AK, is your own. Just make sure you properly weigh all the pros and cons of both options.