How Leasing Equipment Can Control Costs

How Leasing Equipment Can Control Costs
How Leasing Equipment can Control Costs

Businesses of all sizes traditionally make substantial capital investments in printers, copiers, and other office equipment. Purchasing this equipment may not be the most cost-effective approach; however, many businesses are finding that leasing printers and other office equipment can help them better control their costs. 

How Copier and Printer Leasing Works

A high-quality printer is an expensive investment for any business. Leasing, however, enables businesses that might not have been able to afford an outright purchase to obtain the printing functionality they desperately need. 

A lease program enables a business to upgrade or replace their existing printer or other office equipment without a large initial expenditure. Most leasing programs let a business pay for the equipment with low monthly payments over one to five years. At the end of the lease period, the business has the option of purchasing the equipment for its Fair Market Value. 

Many lease agreements include regular equipment maintenance as part of the cost. Some agreements also include supplies, such as toner and paper. Also, many leases enable businesses to upgrade their equipment before the end of the lease term. This enables a business to always have the latest and greatest technology without constantly purchasing new equipment every few years.

5 Benefits of Leasing Office Equipment

Why should a business consider leasing printers and other office equipment? There are many benefits to leasing printers and copiers – here are five of them.

1. No Upfront Capital Expense

Leasing plans avoid the large initial outlay associated with traditional equipment purchases. If a business finances an equipment purchase with a bank loan, it will still need to make a 10-20% down payment – which is substantial with high-priced multi-function printers. Even if a lease requires the first and last month payments upfront, that’s still a substantially lower initial expense than purchasing the same equipment. The lack of a large upfront capital expense enables a business to divert that cash to more pressing financial needs and enables smaller businesses to afford expensive equipment otherwise outside their budgets.

2. Flexible Terms

Most leasing companies, including Cartridge World, offer flexible terms that adapt to a business’ changing needs. Regular lease payments also enable a business to easily establish monthly expense budgets and avoid unpredictable and unbudgeted equipment expenses. 

3. Easy and Affordable Equipment Upgrades

Typical lease agreements let businesses upgrade their leased equipment for little or no additional cost over the ongoing monthly lease payments. This enables businesses to obtain new equipment as it becomes available and keep their equipment fresh.

Lease-based equipment upgrades enable a company to scale its print environment as its business needs change. A business may need additional print functionality as its market grows, which is easily handled with a lease agreement. 

4. Complete Service and Support

Lease plans that include service and support take the risk out of purchasing new equipment. The leasing company absorbs the cost of printer maintenance and repair, so there are no unexpected expenses when equipment fails or needs to be replaced. This also frees up a business’ IT staff; according to IDC, 23% of the average company’s help desk calls are related to printer issues.

Also, leased equipment with included service and support is typically kept in better working condition than similar equipment without regularly scheduled maintenance. With a lease agreement, printers aren’t misused until they fall apart. Regular maintenance ensures longer lives and decreased downtime.

5. Automatically Replenished Consumables

If a lease includes managed print services, the leasing company handles all consumable replenishment. That removes the hassle of ordering, restocking, and replacing toner and other printer supplies. The cost of these supplies is factored into the fixed monthly lease payment. This frees up the company’s employees to focus on more important tasks and ensures that printers will never go idle because of poor supply management. 

No-Cost Printer Leasing from Cartridge World

In addition to traditional lease agreements, Cartridge World offers no-cost printer leasing. If a business uses more than three reams of paper per month, it may qualify for a no-cost lease. All the business has to do is agree to purchase all its printer supplies from Cartridge World and they’ll receive an appropriate printer at no cost. This is a terrific alternative to traditional purchase or lease agreements and ensures the business always has a functioning and well-equipped printer fleet.

Turn to Cartridge World for Your Printer Leasing Needs

Cartridge World has been serving the printer needs of Quad Cities businesses for more than 15 years. We are a full-service provider of high-quality printers, copiers, and innovative managed print services. We can help you choose the best purchase or lease program for your business’ needs. 

Contact the professionals at Cartridge Word today to learn more about our printer leasing programs.