This article will compare the advantages and disadvantages of leasing versus buying an office copier MFP printer to decide which is right for you.
Businesses typically view a multifunction printer as a non-negotiable piece of equipment that is necessary to keep the workplace running smoothly. However, many companies have difficulty deciding whether to buy a copier MFP Printer or lease from a managed print services provider.
Consider the following questions before deciding whether you should lease or purchase your MFP:
- Is my company able to update and maintain my multifunction printer (MFP) on-site?
- Is a lower upfront cost more vital to me than a lower total cost?
- What is the volume of use and how will I service the copier/printer?
- Is it likely that we will need to upgrade our MFP?
- Will my organization monitor its ink/toner supply levels?
ADVANTAGES TO LEASING YOUR MULTIFUNCTION PRINTER
- Hassle-free Equipment Maintenance
Many companies don’t have the IT infrastructure to maintain and service their multifunction printers. The managed print provider will support the equipment and ensure maximum uptime and minimal service interruptions when you lease.
Significantly lower your upfront costs
Get immediate and affordable access to essential business equipment without significantly affecting your cash flow. Additionally, a Managed Print Provider (MSP) analyzes your print usage to identify opportunities for optimization.
Keep up with the latest printing technology
As soon as the term of your lease ends, you can easily upgrade your MFPs to the latest technology and take advantage of any new features or improvements made possible by new equipment on the market.
DISADVANTAGES TO LEASING YOUR MULTIFUNCTION PRINTER
- Higher Long-Term Cost
The long-term cost of leasing equipment is usually higher than purchasing it outright. However, purchasing outright does not include the added benefits of leasing.
The Equipment is Not Yours
The equipment you lease is not yours at the end of the day. When the lease ends, you usually have the option to buy the equipment, terminate the lease, or renew the lease.
Should you decide you no longer wish to lease the equipment before the lease termination date, you must pay a termination fee to end the lease and pay the remainder of the lease.
ADVANTAGES OF PURCHASING YOUR MULTIFUNCTION PRINTER
- You own the equipment
One of the most significant benefits of purchasing your equipment is that it is now yours. The machines can be used for as long as you like, except when parts begin to yield, and as age increases, it becomes more likely that the necessary components for repair may not be available.
DISADVANTAGES TO PURCHASING YOUR MULTIFUNCTION PRINTER
- High Up-Front Expense
Paying one high upfront cost for your printer is the most significant disadvantage of purchasing equipment. Without spreading the cost over several years, the units you purchase will have to be paid for all at once, which can be very expensive.
Using outdated and underperforming equipment
Due to the significant upfront cost, organizations typically use MFP Printers for as long as possible after purchasing them. As MFP printer ages, it may become incompatible with newer software, security measures, or compliance regulations, and MFP parts can also become harder to find with outdated printers.
BUYING VS. LEASING — WHAT IS BEST FOR YOUR BUSINESS
Your business needs will determine whether you should buy the multifunction printer or lease it. The team at BDS is available to help you find a print solution(s) that works for your business. Contact us today to put BDS’s 40+ Years of Experience to Work for You.