Lease or Buy Your Next Copier?

5655-CopierShould You Lease or Buy Your Next Copier

Back in the 80s and 90s, the buy versus lease ratio sat at around 50/50. Today, almost 80 percent of businesses have taken the route of leasing. Why have we witnessed such a dramatic increase in the number of leases? The main reason relates to how technology changes have become much faster, so to stay competitive, it makes more sense to lease than buy. A lot of competitive environments like schools, universities, medical practices and law firms all need to keep the latest technology to stay competitive.

With a lease, you have the advantage of a predictable budget, and you can upgrade every two to three years to stay updated with the latest technology. Another benefit of leasing is that clients will often save money on new leases because better technology has become increasingly more accessible and more energy efficient.

On the other hand, the greatest benefit of leasing is how you will save money and avoid the fees and interest charges. Over the long term, buying will almost always cost less because you are not paying the fees, and many business owners have expressed how they like to keep their business running with little to no debt. That is one of the reasons that you should buy a copier. While a lease is not technically debt, you will still be bound to the terms in the contract, so a lot of professionals consider it the same as having debt.