Should I Buy or Lease a Copier??
You would think with a website name like Cheyenne Copier, we would suggest everyone lease copiers all the time. It is just not the case. There are specific times where buying a copier makes more sense, and other times where Leasing makes more sense.
For example. today I was chatting with a potential client and they wanted to lease a copier that only cost $1000. Their reasoning was they wanted an all-inclusive plan. but leasing isn’t necessary for a plan like what they want.
Let’s go over the details of a lease so you can get an idea of how it all works.
First, a copier lease is simply a method to finance a copier. Not to be overly simplistic. The reason a lease normally comes with maintenance is because a lease company requires that the equipment is maintained. So there is no choice. With a purchase, you can choose to cover the copier with the same kind of plan as if you leased it, or you can decide you don’t want to cover the copier under a maintenance plan.
Let’s say this is the situation —
Copier = $4000
Supplies and Service Plan = 1.5 cents a black and white copy and 9 cents a color copy (these rates are a little high, but it doesn’t matter because this is just an example. – Say it is $60 a month.
So, you could buy the copier for the $4000 or you could lease for approx $80 a month for 5 years ($4800 + papaerwork fees)
So you are paying $800 to $1000 for interest which isn’t totally terrible, it is less than 10% APR.
Then you have the cost per print plan. If you bought the copier, you could just sign up for the cost per print plan by itself, $60 a month in this example.
Advantages to leasing a copier
Doesn’t take all your cash flow
Expects a refresh
Disadvantages to leasing a copier
There is paperwork fees that will add a few hundred extra bucks
You have to pay interest
Harder to switch out of later
We hope you will give us a chance to explain copiers to you and copier leasing anywhere in the USA.