One of the reasons why your modern business may still need a copier is because you have to send clients hardcopy documents. Not every client or customer is going digital, and as such, some may prefer a paper copy of their invoice or of a letter your business is sending. Having a copier allows you to print that letter off. Another reason why a modern office may need a copier is to print off graphs, charts, or other information for a meeting or presentation. People are visual learners, and having something to reference can help to convey information to employees, prospects, or clients. These are just two examples of how companies can benefit from a copy machine. If your business needs one, leasing your next copier may be an excellent solution for your business.
What Kinds of Copier Leases Can You Choose From?
If you are in need of a copier, you may be looking to lease one rather than to purchase it outright. There are two primary types of leases that are available for office equipment, including copiers or multifunctional printers. Understanding what these options are can help you determine what kind of copier lease may be the better option for you. Read on to learn more about those lease options.
Operating Leases
Operating leases, also sometimes referred to as fair market value leases, are the most common type of leases used for office equipment. An operating lease is essentially a rental option. (Although, short-term rental options are also available.) You lease the equipment from the leasing company for a specific amount per month. That amount is generally less than you would pay to purchase the equipment. At the end of the lease term, you can then buy the equipment, or you can turn it back into the leasing company. Companies who always want to have the latest type of equipment often select this option, as you can lease new equipment, turn it back in at the end of the lease, and then get the latest, most updated version of that equipment under a new lease agreement.
Capital Leases
Capital leases are less common than operating leases. Capital leases generally cost more per month than operating leases. However, at the end of the lease period, you typically have paid off the bulk of the price of the equipment. As such, this option is very similar to a rent-to-own type of lease. Capital leases are ideal for businesses that want to purchase a copier but may not have the money to buy it outright or the business credit needed to finance this type of purchase in more conventional ways.
Why Is Leasing a Copier the Right Move For Your Business?
Now that you know more about the types of leases available to you, you may be wondering if leasing a copier is the right move for your business. In order to determine if it is right for your business, you must learn about the benefits of leasing a copier. One of the most significant benefits associated with leasing any type of business equipment, including multifunction printers, is the cost associated with leasing versus buying. Leasing costs less per month than buying equipment. Once your lease is up, you then have the option of trading in your equipment for a new device. This may sound like a drawback, but technology is constantly changing, and old equipment does not hold its value. As such, leasing often makes sense.
Another major benefit associated with leasing a copier is that most leases offer a service plan for the equipment. This means that your maintenance fees are tied into the cost of leasing the equipment, providing predictable billing while ensuring maximum uptime of your device. You won’t have to try to figure out when maintenance is due or how much it will cost you. This can be a huge perk, especially for businesses that are on tight budgets.
What Do You Need to Know Before Signing a Copier Lease?
After learning about the benefits of leasing a copier and the types of leases available to you, you may be ready to start the process of searching for a copier lease. However, before you sign a contract, there are a few key pieces of information that you should ensure is listed on the lease. The first thing you need to find out is whether you are required to carry insurance on the leased piece of equipment. This can drive your costs up, so always make sure you know whether insurance is a requirement.
Another component that should be on the lease is information related to potential buyout costs. Is there a set price for the equipment once the lease expires, or is the cost based on fair market value at the time the lease expires? Additionally, the lease should identify its exact duration and if there is an option to continue the lease on a month-to-month basis once it has expired.
The final piece of information that should be included in a copier lease is a termination clause. What happens if you need to terminate the lease early? Your business may be consolidating offices or closing due to unforeseen events, and you may no longer need the equipment. Or, you may wish to purchase the equipment. Always find out what the terms and conditions are should you need to terminate the lease early, even if you do not anticipate needing to do so.
Despite many offices going digital and opting for electronic or paperless systems, offices still have a need to print, copy, scan, and fax items routinely. As such, it is vital that businesses still have a copier, also known as a multifunction printer, on-hand for their teams in their office. There are a number of benefits associated with leasing a copier rather than purchasing one outright. If your Sacramento office is ready to find the right copier for your business to lease, contact Buckmaster Office Solutions today and speak with one of our sales specialists.