13 Jan Buying vs. Leasing Office Equipment: Which Is Right for Your Business?
When it comes to office equipment, such as printers and copiers, your first instinct may be to purchase outright. However, are you considering the other expenses associated with your purchase? Buying might be a good option, but if you have considered leasing and can’t decide which is right for your business, you should keep reading.
Buying
Buying your office equipment can be less expensive upfront. You are avoiding interest on monthly payments, and the tax deduction can be nice. However, something to consider is how long it will take for your equipment to become outdated and what you will do with it then. It can be difficult reselling older equipment. Another thing to think about is additional costs, such as delivery and setup, replenishing supplies such as toner and ink, and maintenance costs.
Leasing
Leasing office equipment does mean no tax deduction and making monthly payments, but this gives you the flexibility to choose better equipment than you may have been able to afford if paying upfront. You also do not need to worry about additional delivery and setup fees, as those are covered. Leasing will usually include a service contract that includes maintenance and supplies, eliminating additional costs. When your lease is up, you will have options such as buying the equipment, upgrading to a newer model, or returning it. This means that when the equipment becomes outdated, you aren’t stuck with it.
Verdict
Unless your business has the cashflow to purchase new office equipment every few years, leasing will save you money and provide more value for your business in the long run.
If you are ready to discuss your office equipment options, contact Arizona Business Equipment in Tucson at (520) 888-2679.