Do you spend too much time waiting for sheets to print in the copier room? Are you losing money on toner and supplies because of outdated office printers? Is your performance being affected by outdated workplace equipment?
We assume that leasing is the most cost-effective approach to obtain updated equipment and keep up with the latest printers and other advanced technologies. The issue is that printer leasing firms are not all made equal, and their outcomes might vary hugely. When it comes to leasing, most businesses opt for the best deal. Getting a good deal on a lease is essential, but it isn’t necessarily an accurate measure of a good lease or leasing situation. Thus, you should make sure that you find the right partner for this purpose.
1. Create a Fixed Cost
Leasing provides a predictable, tax-deductible cost that eliminates the use of complicated valuation schedules. Although reducing a purchase price as a flat sum can guide you to offset earnings by a significant amount, depending on how you schedule your asset value, it can result in an unstable financial condition. On the other hand, lease payments constitute a part of your monthly income. Bear in mind that, based on how your local and state governments organize their tax rules, leases with purchase clauses that allow you to acquire the equipment at a discounted cost after the lease term may be liable to property tax.
2. Keep Equipment Fresh
Because equipment leases are for set periods, you usually hand over the old equipment to the leasing provider after the term. Ideally, you can align your lease terms with the replacement period you prefer for your machine. You may prepare in advance for the latest tech and prevent falling behind the changes in equipment design or functionality by determining the number of employees who will use the printing machine, the quantity it prints, and the possibility that you will either exceed or outlast it.
3. Bundled Equipment and Consumables
The expense of consumables and maintenance can be wrapped into the fixed monthly payment when you lease printers for business. You may be particularly inclined to get a service agreement that provides ink or toner for a set number of prints per annual period but costs you for large quantities of goods further than the output base of the lease, based on the hardware you selected. This leasing structure makes your equipment and supply payments a set expense that you can manage and control more quickly than purchasing ink or toner cartridges.
4. Preserve Working Capital
You prevent the possible substantial initial cost of purchasing equipment when you lease a printer rather than purchasing it altogether. You’ll be charged for a 10 to 20% down payment if you cover your purchase with a bank loan. Although a lease may require fees between the first and last months’ installments before the lease term starts, it constitutes a significantly smaller initial commitment. Preserving your business capital allows you to use it for other purposes, such as staff expansion or expansion plans. However, selecting a long lease period may lower payment amounts at the expense of a higher overall cost since the total of your payments may reach the price of a printer for sale.
Find the right printer leasing company.
Potential bidders should be thoroughly interviewed. Inquire about their experience with the particular transaction you’re looking for, their participation with companies in your industry comparable to yours, and the varieties of leasing products and services they provide to businesses like yours. Share information about the equipment you’ll demand. Inquire about whether they will fund your lease with internal funds or if they will market it to an outside source of money. Is there a chance they’ll transfer your lease to a different servicer at some time throughout the term, as many printer leasing businesses do?
Request recommendations and financial data from prospective bidders to assess their financial situation, just like you would with any significant decision. Look into poor reviews, awards, unresolved problems, financial problems, success stories, and fraud on the internet. Finally, verify that potential bidders are members of one or more leading industry organizations.
Southern Imaging Copier
We understand that budgeting and financial planning are complex. At Southern Imaging Copiers, we offer the most versatile and available terms to match your budgetary needs while maintaining the highest quality and brand of business printers for your office. Moreover, we have built a good reputation in this business. Talk to us to learn more about how we can help your business.