Just like with a car, did you know you can lease printers? Printers for lease include small personal printers, but most of the time, you’ll see businesses leasing huge multi-purpose printers for the office.
Are there any advantages to leasing as opposed to buying? Are there any pitfalls you should watch out for when leasing a printer? Below are some major pros and cons of leasing a printer.
Pro: Encourages Flexibility
When a business is flexible, they are able to navigate change and reduce risk. Businesses have different printer needs, and these needs may evolve with time. Companies that currently require a high functioning printer may later decide to move things online. At that point, leasing would have been the best option. The same flexibility of leasing also benefits a company that requires basic printing but would like to expand their printing capabilites.
Con: Overpaying on Maintenance Plans
Unfortunately, most printer leasing companies will include a maintenance plan along with your printer. Of course, this maintenance does not come free. This means that a business owner who leases a printer will have to pay interest on the machine and the maintenance plan.
Pro: Low Upfront Cost
If you need a printer, but don’t have the budget to buy one – leasing is a great option. For instance, single-function printers such as a Konica Minolta bizhub 3602p can be leased for about $50/month. Leasing a printer is also a great way to preserve credit, which can be hard toaccess as a small business.
Con: More Expensive in the Long Run
In the long run, leasing a printer will require a business owner to pay interest. At the end of a lease term, most lessees will have paid more than the market value of the printer. Again, remember that the lessee will also need to pay interest on a maintenance plan which is not purchased seperately.