When upgrading your businesses printing facilities, you may want to reconsider purchasing the technology you need. Leasing printers and photocopiers offers a range of advantages, including increased flexibility and reduced costs. Here are the top benefits.
Reduced Costs Over Time
A new printer or photocopier can be a costly investment, but leasing offers an alternative for businesses that can work out to be a fraction of the cost. Leasing also offers you the ability to pay for your printing needs monthly at a predetermined price, which could allow you to budget more effectively and overcome cash flow issues.
Leasing a printer or photocopier also has tax advantages over purchasing one. According to an analysis by Tower Leasing, leasing equipment for three years compared to purchasing at a cost of £7,500 quarterly, could save businesses about £1,752.75 in tax relief, thanks to tax benefits tailored to those who lease their business technology.
Leasing your printers also protects your business against depreciation losses. After all, you don’t want to invest heavily in an IT upgrade that is just going to decrease in value as new options hit the market.
Many leasing companies also offer the option to purchase the equipment at the end of the lease term for a reduced price, which some businesses may want to take advantage of.
Stay up to Date With the Latest Technology
Leasing offers you the ability to access the latest printing technology as soon as possible, not just when your budget ticks over. A lease also gives you the chance to try a machine and switch it out if you don’t like it when your lease is up, which you don’t have the ability to do if you have purchased the printer outright.
By opting for short leases, you can also upgrade your printers and photocopiers more frequently, allowing you to take advantage of newer, faster and cheaper technology. Your lease agreement may even be able to upgrade your technology during the lease for an additional cost, without having to worry about selling your existing printer or photocopier to recoup funds spent on your investment.
Depending on your lease agreement, you can regularly refresh not only your print fleets but also possibly your laptops, PCs and servers, which Garnter recommends you should do every three years to deliver business savings and efficiencies
Don’t have IT staff on hand? Leasing a printer often comes with a managed print services agreement, which means that the company leasing you the printer takes care of any maintenance issues. This can save your business valuable time and repair costs if any printer-related issues arise. If you purchase a printer, your repair costs will become increasingly expensive as your copier becomes obsolete over time, so leasing presents a great advantage here.
Companies that lease printers and photocopiers also often manage ongoing print-related needs such as supplying ink and toner, meaning that you can take care of all your printing needs in one place.