Many offices aspire to eventually become “paperless,” eliminating the need for classic office equipment like copiers and printers. This idyllic concept could have great ecological benefits. But, as many office workers know, the dream of a completely paperless office is, for now, just a dream. In reality, the average office worker uses around 10,000 sheets of paper a year, and the average office has to print, copy, fax, and digitize endless documents every day. In other words, the need for equipment like office copiers is just as high as it’s ever been. But, when it comes to picking a new copier for the office, you’ve got a choice – copier rental or purchase? There are arguments to be made on both sides, and this guide is here to provide a balanced look at the issue.
Copier Rental: The Basics
Before diving into all the pros and cons, it’s important to understand exactly what copier rental entails.
Put simply, renting or leasing a copier is just what it sounds like – you enter into a lease agreement with a copier provider. They let you use the copier for the duration of your contract, just like renting a car or anything else, and you pay a monthly or annual fee for the privilege.
A lot of the time, copier rental agreements are negotiable and may even include maintenance costs. That means if anything goes wrong with your copier, the provider will cover the fees needed to fix it.
In Favor of Copier Rentals
We’ve seen the basics of a copier rental. Now, let’s look at some reasons to choose this option over buying a brand-new or used copier instead.
Low Upfront Costs
Obviously, the No. 1 benefit is the massive amount of money you’ll save upfront when leasing a copier compared to buying one. High-end office copiers with fast copy rates and multifunctional designs often cost thousands of dollars. Such a big investment may be beyond your business’ means, or could leave a big hole in your budget. Monthly rental fees are significantly smaller and easier to manage.
Maintenance Cover Included
As touched on earlier, it’s quite common practice for copier rental providers to include maintenance requirements in their agreements. Given the fact that copiers often break down and suffer all sorts of issues, having all your repair costs covered is a serious advantage. It can provide major peace of mind, and save you a lot of cash.
A Range of Options
Typically, copier rental providers offer a broad collection of copier models for users to pick from. This collection will often include some of the latest and greatest models, the kind that smaller businesses wouldn’t be able to afford outright, but can pay for quite comfortably through a rental agreement. Thus, it’s relatively easy to find a copier that suits both your needs and your budget when you rent.
Predictable, Stable Payments
Budget management is one of the leading concerns for small business owners, and it can be difficult to handle unexpected costs or big sums that need investing. With copier rental, you know exactly how much you’re going to spend on your copier for the months and years that comprise your contract. So that’s one less thing to worry about when managing your budget.
Possible Tax Deduction
Typically, all payments made for copier rental or lease agreements are entirely tax-deductible, helping to lower your overall amount of tax due at the end of the year. This is yet another way in which renting a copier can save your business a lot of money, not just short-term, but in the long-term too.
Against Copier Rentals
It’s not all good news with copier rental. There are a few downsides, too.
Not Always as Cheap as It Seems
While renting a copier is clearly cheaper than buying one outright in terms of upfront costs, it’s not always as affordable as it seems. Those monthly payments all add up over time, and you’ll usually end up spending more overall on your copier than it’s actually worth, especially if you take out a long-term lease.
Terms Can Vary
Copier rental terms and conditions can also vary. Some providers won’t be as flexible or willing to negotiate as others, and they may not want to cover maintenance costs, either. So you have to be careful and read the small print before signing on the dotted line.
Copier Purchase: The Basics
A copier purchase doesn’t require much explanation. With this option, you simply buy your office copier outright, and it’s yours to own and use from that point on.
In Favor of Copier Purchases
Here are the plus points for a copier purchase.
Lower Cost in the Long Run
As explained above, when it comes to long-term costs, you usually get a better deal overall when buying outright. You don’t have recurring monthly payments to worry about, and you can even resell your copier in the future to recoup some of the cost.
You Own Your Copier
When you buy a copier, it’s yours. You have full control over it and can use it however you like, no strings attached. That also means you need to handle maintenance for it, which can be a hassle, but many business owners like the feeling of owning their own office equipment.
Easier Process
It’s usually easier and quicker to purchase a new copier. You just have to find a vendor, pick a machine, and finalize the sale. It’s as simple as that. Rentals can be much more involved and drawn-out processes, with negotiations, paperwork to sign, etc.
Against Copier Purchases
Finally, the downsides:
Big Upfront Expense
Arguably the biggest downside of a purchase is that it costs way more in the initial stages than a rental. As mentioned earlier, top-tier office copiers can have four or even five-digit price tags. That’s a lot of money, and many small businesses may feel priced out of the market.
You’re Responsible for Maintenance
Once you’ve bought a copier, unless you have some sort of extended maintenance warranty with it, you’ll be responsible for repairs, replacement parts, and so on. That might not be a big deal for a quality copier that doesn’t break down often. But, if your machine has recurring issues, repair costs will add up.
Gradual Depreciation
Your copier might be all fancy and new at first, with all the latest functions. But technology evolves fast, and business conditions can also change quite quickly. Down the line you may find that your copier just doesn’t cut it anymore, forcing you to sell at a loss and reinvest all over in a newer model. This is much easier with rentals, as providers are often willing to let you upgrade to more advanced machines when you need to.
Summing Up: Rental or Purchase – Which Is Best?
We’ve heard all the arguments on both sides. Now, it’s time to draw a conclusion.
The simple fact of the matter is that there’s no one-size-fits-all approach in this matter. It’s impossible to say that copier rental is always the best choice or that buying your copier outright is never a bad idea. It all depends on the circumstances and situations of each office. For some, rental will be the right call. For others, a purchase may be better.
However, in general, copier rental clearly has a few more advantages than purchasing. It’s much cheaper, at least in the short-term, as well as being more convenient and accessible, even to the smallest of businesses. So, if it sounds like the right fit for you, and you’re seeking copier rental in the San Francisco area, contact Golden Gate Office Solutions today.
