Leasing vs. Buying a Printer: Which Option Is Better?

An image of HP business printer.

“Should I buy or lease a printer?”

It’s one of the most common questions among business owners, and the answer isn’t the same for everyone. Why? Because technology has advanced a lot in the past few years.

Nowadays, printers aren’t just printers but also used to copy, fax, and scan documents. There are a variety of options available at different price ranges in the market.

Hence, it can be difficult to choose between leasing and buying a printer. Here are some pointers to help you make an informed choice.

Buying

Buying a printer is less expensive in the long-run compared to leasing. It creates an asset rather than a liability for a business, which prevents locking in a contract.

Furthermore, owning a printer makes maintenance an easy task as businesses don’t need to get the lessee’s approval to carry out the repairs.

Buying a printer also allows businesses to reduce their taxable income by adding a depreciation charge in their profit and loss statements.

However, the purchase price can be an obstacle for startups and small businesses with extensive printing requirements.

Companies with a limited budget may be unable to afford the repair, replacement, and maintenance costs and may find leasing a more suitable option.

A close-up image of a person signing a business printer lease.

Leasing

Leasing a printer is an easy way to obtain printers without making an investment suited for businesses with a small budget or limited credit access.

It also helps to avoid obsolescence and allows companies to get their hands on the latest technology available in the market.

When a company enters a leasing contract, they have a contractual obligation to pay the lease payments over the agreed period.

The business must have enough working capital to pay its lease payments on time. Non-payment can result in penalties, interest surcharge, or lease termination.

Most businesses that purchase printers on a lease will have paid more at the end of a lease term than the actual value.

Which option is better?

Buying and leasing a printer both are viable options for a business. Which option should you go for? It depends on your business’s specific needs.

Buying is more suitable for offices with extensive printing needs and enough budget to purchase without hurting their cashflow situation.

Leasing is a viable choice for small businesses with less printing requirements and a limited budget. In the end, it depends on your objective.

Buy  or Lease a Commercial Printer in Colorado Springs

Axis Business Technologies offer a variety of multifunctional printers, including commercial color printers, digital copy machines, and laser printers from leading brands, including Kyocera, Xerox, Konica Minolta, HP, and more. Call 1.866.390.3956 or visit their website to learn more about their products.

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