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Leasing Office Equipment Versus Buying
Thursday, 18 September 2008 14:19
Photocopiers are one of the most used commodities in the workplace and can cost anywhere from ?£500 to over ?£100,000 to buy. Many businesses, especially in today's financial climate, are choosi?ng to lease office equipment to avoid paying such a large initial outlay. ?
??The cost of a photocopier tends to increase with its speed, capacity and the volume it is capable of. A business needing a photocopier for nominal usage may only need a small office photocopier, p?urchased at a fairly low cost. This could be more cost effective than a lease agreement. However, a business needing several high end photocopiers may consider a leasing agreement to avoi?d paying a large initial fee and reduce overall running costs.
When leasing a photocopier, all the co?sts of the device are fixed in advance and this is considered to be inflation proof as any payments made in the future are in fixed money terms. A device that is purchased and owned by a business is likely to depreciate in value fairly quickly as technology advances.
Lease agreements typically last between 1 and 5 years and terminating a lease before it ends can be difficult. It is therefore ?vital that the photocopier chosen is one that suits the company's needs and that the supplier used is reliable and has a good reputation! Many good photocopier suppliers will offer to carry out a print audit to help businesses develop a efficient print strategy and reduce print costs. Leases can offer flexibility once a preferred lease term is agreed as it allows the business to renew for new technology at the end of the lease or even during agreements. When purchasing a device, companies tend to be more resistant to change and are not able to keep as up to date with the best office equipment, which could have an effect on business needs.
The only extra cost of a lease agreement is the fully inclusive maintenance which covers all parts, toner and labour for the duration of the agreement. The total overall costs may well be reduced due to extremely low toner inclusive running costs, making leasing higher specification a very effective way of reducing total costs of expensive printing compared with in house or outsourced printing.
It is also possible for lease costs to be off-set against profits and deducted from any taxable profits as photocopier lease agreements are usually considered as an operating cost and not as a business asset. This can save a substantial amount, but it should always be checked first that the business and the equipment itself are eligible for this deduction.
It is important to assess the exact needs of a business before making a decision about whether to lease or buy business equipment (most decent suppliers will help a great deal with this) and, if choosing to lease the equipment, it must be made sure that the details of the service agreement are clear and fair. Choosing to take out a lease agreement can save a business a substantial amount of money and give peace of mind in today's uncertain financial climate, as long as a credible and reliable supplier is used.?
Photocopier News
- Canon Launches ‘Business Leap’ CompetitionCanon last month announced the launch of its ‘Business Leap’ competition, which is inviting UK printers, businesses and entrepreneurs to submit a business plan involving digital printing for a chance at winning an imageRUNNER Advance 9070 Pro light production digital press and other prizes from a total haul worth over £90,000.
- Canon Reveals Study on the Impact of the Economic Downturn on the Printing IndustryA recent study, ‘Redefinition of the Digital Printer’ sponsored by Canon and conducted by Professor Emeritus, Frank Romano, provides a snapshot at the state of the printing industry under the impact of the current economic climate, with the final analysis due to be published in May 2010.
- New Canon Copiers Website LaunchedCanon Copiers is delighted to announce this month the launch of its impressive, new and improved website. After some time in development, the company finally went live on 23rd February 2010, with what is a faster, simpler and far more exciting place for its customers and a business, all at Canon Copiers believe, is worthy of the fantastic new home it’s been given.
- Top Ten Energy Saving Tips for PhotocopiersWith rising energy costs and the increasing need to make business both environmentally friendly as well as efficient, saving energy on your workplace copying is a great way to reduce your bills and minimise your environmental impact. Here at Canon Copiers, we’ve selected ten of the best ways to save energy and money while copying without reducing your company’s productivity.
- Photocopiers: A Round-up of the Last YearThere has been much development in the photocopier industry during the last year with new ranges of copiers being released, heightened environmental concern, new acquisitions and partnerships and the recession all having a major part to play.
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