General Tech

Why Is Printer Leasing A Good Idea?

It does not matter whether your organisation is a small or a large one. If you are running a business, then you are definitely going to need a business printer. But if you are planning to purchase a printer for your company, then it can cost you a lot. In this case, purchasing a multifunction laser printers for the business is not a good idea.
The advisable thing for you to do is to lease a printer. Although we all know that doing this is not well documented but still companies tend to go for economical choices of leasing office equipment like a copier or printer. This practice is becoming very prominent nowadays. Mentioned below are some of the reasons why a company should lease a printer rather than purchasing it.
Reasons for choosing printer leasing

1) You get a peace of mind

When you go with the option of renting an office printer, then you get a sense of relief as there are several responsibilities that you don’t have to fulfil. If you go forward with buying a printer for office use, then you have to meet up with the servicing and maintenance requirements demanded by the machine.
If you lease a printer, then all these responsibilities are handled by the company that is giving the printer to you on a lease. Therefore, you get a peace of mind by leasing a printer. Obviously, you will be required to deal with the problems that are associated with the leasing of a printer, but those can be solved just by making a phone call.
If it is mentioned in the lease contract that machine maintenance is the duty of the lesser, then the lessee is not required to pay any extra amount for services. This basically means that you are not required to contact an IT company, which can be a very costly affair.

2) You get to use the latest models

If you decide to go with leasing a printer, then one of the privileges that you will be provided with is the use of the latest technology. This kind of benefit is not possible when you purchase a printer. Today, the printers that are available on the market can perform a multitude of functions. It means that they can perform all the functions such as scan, fax, and other features. Renting of printers can give you access to the latest models and that too at reasonable rates.

3) Cost saving

If you lease a printer instead of buying it, then you can actually save a lot on cost. You save money to a larger extent as you will not be charged with any maintenance prices. Secondly, you will not be required to incur the cost of upgrading the printer when its value starts depreciating, which is inevitable. Furthermore, you save the amount of money that is required to be paid at the time of acquisition of the asset.

4) No issue of disposal

Another great advantage that you get by leasing IT equipment like a printer is that you don’t have to go through the hassle of disposing of them. Leasing a printer means that the duty of disposing of the printer is the job of the lesser and not yours.

5) You get tax benefits

You can write off the payments that you make on a monthly basis for a lease as a business expense. These monthly expenses can also be deducted from your tax return. Hence, it helps you in minimizing the net cost of a lease and becomes another good reason why you should not buy a business printer.
Additionally, leasing IT equipment like a printer can be very beneficial for the companies with bad credit. Leasing a printer is a lot easier in comparison to acquiring financial resources for purchasing a copier or printer. These are some of the reasons that showcase how much printer leasing is better in comparison to buying it.

Types of printer leases

Leasing of business equipment is of two types: a capital lease and an operating lease.

1) Operating Lease

Another name for operating lease is fair market value lease. Generally, business organizations go for this kind of lease. It is more preferred as its monthly instalment is less in comparison to a capital lease. Whenever a company gets an operating lease for a printer or copier, they are basically renting an equipment and just because they are rented, they are not recorded in the financial statements of the lessee.
When the lease agreement comes to an end, the lessee also gets an offer to purchase the business printer but on the condition that the buying cost of the equipment will be assessed by the lesser. The lesser will take all the factors into consideration i.e. market demand, new technology, wear and tear, and depreciation.

2) Capital Lease

Another name for this type of lease is dollar one out purchase. This kind of lease is generally not preferred by business owners. A capital lease is very similar to the acquiring of a loan instead of renting an asset. If a business owner takes a capital lease, then he or she will be required to show printer as an asset in the balance sheet of the company.
The monthly charges that a lessee is required to pay in a capital lease are a lot more than operating lease as in this case the total charges of the printer are being financed. This is not a considerable option for the businesspersons who are planning to buy a printer, as the buyout cost of the printer is mentioned in the agreement at the very moment when it is signed. This type of lease is great for companies, which are not interested in making an upfront purchase.
So, above mentioned were some of the reasons why leasing a printer is a good idea. By leasing a printer you can save a lot of costs and you also get the benefit of using the latest models that have multiple functions.

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