If you're tasked with the responsibility of acquiring your company's new copy machine, one of the first choices you'll have to make is whether or not to buy or lease. There are advantages and disadvantages to both. The more you understand about the differences between buying and leasing, the more capable you'll be of making the right decision for your company.
All About Leasing
In the case of a leased copy machine, the organization or business that's using the machine makes a monthly payment to the company that owns the machine. In return, the company that owns the machine maintains the machine and provides copy machine service for no extra fee.
Although leasing can be more expensive over time, there are many benefits to leasing that can help justify the added expense.
All About Buying
Buying a copy machine is a lot like buying a car. Your organization or business can either pay for the entire machine up front, or your business can make a down payment on the copy machine and borrow the rest to be paid over a fixed amount of time. Advantages of buying a copy machine include:
Still, there are some downsides to owning a copy machine. Your business or organization might be inclined to hang on to the copy machine for much longer than is reasonable when the machine is owned because it's cheaper. On the flip side, your company could potentially end up paying a lot to repair the machine as it begins to age and break down frequently.
Budget-minded companies that don't plan to rely heavily on their copy machine service will benefit from buying. Companies that need the latest in copy machine technology and have a bigger budget to spend on the machine will benefit from leasing.
If you're still having a difficult time picking between leasing and buying, speak with a representative from the copy machine service company. He or she will be able to walk you through the process and help you decide which option is right for you.Share