For businesses dealing with the demands of large-batch printing and copying, running a high-end laser printer or digital copier is smart in conditions of flexibility and productivity. However, these cutting-edge office machines feature a hefty price – starting from a few thousand to more than $10,000 for an outright purchase.
For a little or medium-sized business, that kind of investment represents a big chunk of capital – the one which many businesses can’t afford. Plus, the price of initial investment doesn’t consider the collateral costs of owning the device – printer or toner costs, cost of paper, and repairs and maintenance.
With this in mind, many organizations are making a choice to lease rather than buy their office equipment. Leasing not only takes any risk of strain from the budget, but offers improved flexibility, reliability, and control over downtime.
The Advantages of printer rentals for Small Businesses
Whether you need a stand-alone inkjet, a heavy-duty laser printer, or large multifunctional devices, there a wide range of benefits of leasing your workplace equipment.
Leasing allows you to remain on the innovative of technology for better reliability, higher uptimes, and increased productivity, along with providing expert tech support team. Also, leases allow for:
The flexibility to scale up – or down – quickly
Improved data protection and security with regular updates, patches, and authentication control
Improved maintenance for fewer downtimes
Better workflow efficiency
Leasing a machine can also improve printing cost transparency and helps reduce cost by automating the purchase of necessary supplies.
How to Choose the Right Printer Lease for Your Enterprise
Before you choose a lease partner, you must first define your business’ needs by deciding your print load. Calculate just how many pages monthly you print to be able to find the right model for your usage. Then:
Research the Possibilities
Take time to research printers or copiers and their functionality to determine which will be able to handle your business’ workload. This is a great time to commence a relationship with a company that provides managed print services, as they have experts on staff that will help you pinpoint the correct brand and model.
Compare Lease Versus Outright Purchase
After you’ve chosen your model, you’ll want to compare lease versus purchase price. Ideally, you’ll want the monthly lease price to equal the retail value of the machine when multiplied by the number of months you anticipate to utilize it.
Choose the Correct Lease
There are two ways you can go about leasing business equipment – through capital or operating leases.
These are the less common of the two leasing choices because the monthly rate is higher because the complete cost of the gear is being financed.
Generally, a capital lease is known as more of a loan that a strict rental because the equipment goes on the total amount sheet of the lessee. This is because the principal and interest (P&I) being paid is put directly toward the price of the machine.
Capital leases are an outstanding choice for organizations looking to eventually buy and own the equipment, as a buyout cost is outlined in the lease contract. Capital leases are also known in the industry as $1 buyout leases.
An operating or fair market, lease is the most frequent leasing options due to the low monthly installments. Because the business is, strictly speaking, renting the equipment, the cost never gets added to the total amount sheet. There’s still an option to buy at rent end, but the lessor calculates the price tag based on several factors like market demand, deterioration, depreciation, etc.
Whichever lease you select, be sure to see the terms of the agreement carefully before signing. Most organizations run leases through a risk management department or outside counsel to make sure there are no onerous terms.
Ready to Get Started with a Printer Lease?
If you’re spending too much on your workplace technology, it’s the perfect time to consider the advantages of printer leasing to update your fleet, manage your technology, and expand your resources for greater productivity, functionality, and cost benefits.