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Copier Leasing

Recent months have seen an increase in businesses choosing copier leasing as a safer option over purchasing, but why is a lease contract more appealing than purchasing, how are businesses coping with the increased difficulty in a leasing approval, ­and what are the pho­toc­opier companies doing about it

Most photocopier and office equipment suppliers will have recently seen an increased number of businesses choosing copier leasing over purchasing. Copier leasing is on the increase primarily because businesses are looking for stable solutions in the recession when the economic future is not clear. Leasing copiers and other office equipment is often appealing to businesses for several reasons:

  • Finances can be planned more effectively (paying a fixed amount each month)
  • There is no large cash sum to pay up front
  • They can keep up to date with all the latest technology
  • The d­evice is only paid for for the time it is needed, up until the leasing agreement runs out
  • Leasing agreements could deliver possible tax benefits
  • Often there is an option to purchase the equipment at the end of the lease
  • Service agreements are often included in the copier lease, allowing for technical assistance

Although there are many advantages to copier leasing, many businesses have become reluctant to take out long term lease agreements, mostly due to their uncertain or unstable financial future. With this change, photocopier suppliers have had to make it possible for customers to gain a copier lease agreement and feel comfortable in the amount time the lease has been taken out for. Copier suppliers, such as Canon Copiers, have adapted and become more flexible by shortening some lease agreements so that businesses do not have make such a long term commitment. The FLA chief recently announced to businesses that leasing could be the way to beat the recession (http://www.fla.org.uk/news/news.asp?ID=545), declaring that lease contracts offer a chance to manage ca­sh flow and deliver stability as lenders cannot cancel the contract.

It might be that businesses are more likely to choose to take out a copier lease agreement over purchasing, but they have to be approved by a leasing and finance company. Leasing companies have made it tougher for businesses to be approved as it has been more difficult to guarantee the stability of businesses during the recession. However, by offering shorter term copier leasing and supporting businesses in their bid to be approved a lease, some photocopier and office equipment suppliers have adapted to help make it more likely for businesses to be approved.

It has recently been claimed that the UK economy has started to grow again (http://www.telegraph.co.uk/finance/economics/5498774/UK-economy-is-growing-again-says-NIESR.html), perhaps meaning that the end of the recession is drawing near and eventually more leasing contracts may be approved and businesses could feel comfortable taking out longer term leases. However, until then the copier suppliers have to adapt to the change in the market and offer flexibility to help businesses gain the lease agreement needed and have access to the best photocopiers available.