There are many reasons why you may be looking at the options behind acquiring an office printer. Perhaps you run a business that is expanding and could use an in-house machine, or maybe you are in charge of new tech in your office and have been asked to procure a printer for some upcoming tasks. Whatever the reason, if you’re in the market for a printer for the office, you may be tossing up whether buying or renting it is better for your needs.
In this article, we discuss the pros and cons of leasing or buying an office printer, and some of the reasons why each option might be chosen. We hope this page can help you make the decision that best suits you and your company.
Leasing a printer
Purchasing an office printer (particularly a new printer) can be costly upfront, and as such, you may consider the option of leasing one. These days, there are many options for printer leasing. When looking for an office printer, many places require a machine that is capable of photocopying as well as printing, and renting such a machine can work out to be a fraction of the costs of purchasing one.
Renting a printer also allows you to try a machine without the full commitment of purchasing. This can be good for those who are a little unsure on the exact printer they are after, or those who are unsure if they will regularly use functions such as a photocopier or fax machine.
There are many different choices when it comes to rental options. Some places allow short-term leases or no lock-in term contracts. Companies that lease printers often have many different machines to choose from, for all different types of needs and budgets.
Leasing a printer can also be a good choice for an office that only requires a printer for a short while, or for a particular time of year. For example, if your company only requires printing during the Christmas period, having an unused printer for the rest of the time can seem a little pointless. In this case, leasing could be a good alternative.
One possible downside of leasing a printer is that the leasing and interest costs over a long period of time could stack up. Another is that some leases may lock you in for a set period of time, and if you discover you do not like the printer you have leased, you may have to put up with it for a little while, else incur break-lease costs.
Pros of leasing a printer
- Leasing a printer can be a smart move if you only require a printer for a short time.
- This option can work well for those who do not wish to make a large upfront payment (ie: purchasing a printer outright)
- With leasing, you have a bit of flexibility and are able to try a machine without the full commitment of buying.
- There are possible tax benefits to leasing a business printer (although there could also be tax benefits for the purchase of a business printer, too).
Cons of leasing a printer
- Renting for a long time with repayments and interest can stack up and cost more than purchasing a printer to own, outright.
- If you do not like the printer you are leasing, and are on a contract, you may need to pay break-lease fees if you wish to terminate the printer rental before the agreed-upon term is up
- You do not own the printer. This may seem a little obvious, but it means you cannot sell it and have the chance of regaining some money if your business chooses to upgrade or forgo having a printer altogether.
Buying a printer
Purchasing a printer can be a decent option for those who have the cash available, and who are pretty certain of the machine they wish to have for their business. By buying a printer outright, you (or your business) will own the printer outright, and will not have to worry about monthly rental repayments and interest costs. When your company purchases a printer, you can also choose to sell it at any time, which means you can recoup some of the costs of the purchase if you wish to upgrade or move away from printing duties.
With buying a printer, there is the option of purchasing either a new or second-hand machine. A second-hand printer will generally cost less than its new counterpart and could be a good option for companies that wish to purchase a printer but maybe don’t have the cash available for a new one.
The purchase of a printer for business purposes could have possible tax benefits, however, tax benefits could also be available for the rental of office machines.
There are many different places that sell new, used, and refurbished printers, so shopping around for the best price is always a good idea to ensure you get a good deal. Events such as Boxing Day sales, End of Financial Year sales, and Black Friday can be good to keep an eye on if you’re in the market for a new printer.
One possible downside of purchasing a printer is the outright cost that must be expended in order to acquire the machine. For some businesses, finding this money upfront within the budget can be tricky, and as such, the outright purchase of a printer may not be in the cards.
Pros of buying a printer
- You or your company owns the printer, and as such there are no repayments that occur or additional interest on the cost of the machine.
- There is often the option of purchasing a second-hand machine, which can be a less-costly alternative for companies who wish to buy a printer but spend fewer funds.
- There are possible tax benefits to buying a business printer (although there could also be tax benefits for leasing a business printer, too).
- Purchasing a printer means you can sell it if your company wishes to upgrade the machine or move away from printing duties.
Cons of buying a printer
- If your company decides it does not like the machine you have purchased or does not require a printer in the future, you will need to sell it to recoup purchasing costs.
- Purchasing a printer outright may not be on the cards for businesses that do not have the money to make an upfront payment.
When deciding whether to buy or lease a printer for your business, it is best to do some research and find out which option is best suited for your company’s wants and requirements before committing to an idea. Once you have worked out what the right option for your business’s circumstances, needs, and finances is, you can take the next step on your printer acquisition journey!