At OT Group, we receive a large number of questions from businesses in regards to which printer they should choose for their office. Perhaps the most common question, however, is whether they should purchase or lease a printer.
Investing in a printer or photocopier is a big decision for any size business. You want to make it as cost-effective as possible, but at the same time, you want to ensure your company invests in the right technology to give your employees the tools they need to be productive.
Printers and photocopiers come in a wide range of models, at varying price points. High-end laser printers could cost your business upwards of $10,000, while monochrome printers could cost as little as a few hundred.
Since most companies have high printing and copying demand, as well as large workgroups, printers that can deal with these high print volumes are the most popular. However, depending on the model that works best for your business needs, these can come with big price tags.
With that in mind, what is the most cost-effective way to acquire a printer or photocopier for your office? Should your business purchase or lease a printer? We explore the pros and cons of each in this blog.
Benefits of leasing a printer
- Low upfront costs: Upfront costs and down-payments can significantly impact your organization’s bottom line. This will allow your company to keep cash available for future growth.
- Keep your equipment up-to-date: Leasing allows your company to acquire modern technology that would otherwise be unobtainable with your budget. Not only can you access state-of-the-art technology right now, but you’ll also be able to easily upgrade your printer in the future.
- You’ll know exactly how much your monthly costs are: With a lease, you’ll have a predetermined monthly cost. Since your supplier will manage your printer, this will be a set cost with no need to worry about maintenance fees or other printing expenses. This can help your company budget more effectively.
The drawbacks of leasing a printer
- More expensive in the long term: Leasing is always more expensive than buying in the long term because your business will be paying interest. This means over the entire length of your contract, your company will have paid more than the actual value of the copier.
- You will be locked into a contract: If your printing needs change, your organization will need a new printer. When leasing a printer or copier, you will generally be locked into a contract. That means if you stop using the printer, you’ll still be paying for it.
Benefits of purchasing a printer
- Less expensive in the long run: It is always less expensive in the long run to purchase a printer or photocopier than it is to lease one, since you won’t be paying interest on your monthly fees.
- Flexible maintenance: When you lease a printer it is the property of a third-party company, which generally means your company is not allowed to perform any type of maintenance. If your copier or printer experiences downtime you will have to wait for the third-party to send an engineer, rather than reaching out to a company of your choice.
- No contracts: If your company decides to purchase a printer, you won’t be locked into a contract. That means you can change, upgrade or sell your printer at any point.
The drawbacks of purchasing a printer
Surprise costs: The initial investment you make into your printer doesn’t include any ongoing maintenance costs - such as toner replacements, paper and any repairs. This could impact your monthly budget if surprise costs come up.
The initial purchase cost: If you have high printing demands or your workflow requires the latest printing technologies, the initial cost needed for printing equipment may be too much for your company. This will take budget away from other growth areas of your business.
There’s no right or wrong answer when it comes to the question of purchasing or leasing a printer. It entirely depends on the needs and budget of your organization.
If you have room in your budget to purchase a printer upfront and a budget for the ongoing maintenance costs, then purchasing is probably the right choice for you. If not, then your company should definitely consider leasing.
Are you still unsure whether you want to purchase or lease your company’s printer? Get in touch with OT Group today. We would love to answer any questions you have and find the right printing solution for your company’s budgetary requirements.
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