Lease vs. Buy Equipment: Which Option Is Ideal for Your Business?

Lease vs. Buy Equipment: Which Option Is Ideal for Your Business?
Lease vs. Buy Equipment Which Option Is Ideal for Your Business

Office equipment represents a major investment for any company. As such, it may be tempting to look around for alternatives to acquire the needed equipment. Secondhand purchases and outsourced printing services are two examples. Likewise, some companies weigh the decision to lease versus buy equipment – especially printers.

Printer leasing is a strategy which many businesses take, especially smaller companies and startups which need robust printing equipment but don’t have the budget for it. However, that doesn’t mean leasing is always the right choice. Read on to gain some insight about printer leasing and when it is or isn’t the best choice.

Purchasing a Printer: The Long-Term Investment

Purchasing equipment, especially a printer, means that the company owns this device outright. It is the simpler of the two options in many ways and means that a company doesn’t have to deal with any leasing contracts or the liabilities which may arise from one. Purchasing a piece of equipment is a good idea if the company has the cash available and it’s a long-term investment with no foreseeable replacement in the future.

Specialty devices, such as production presses, often fall into this category. Owning this device gives the company unfettered usage and the freedom to do with it what it likes without being locked into a contract with unfavorable terms. However, it also means that the company is on its own with maintenance and service unless it chooses to hire an outside professional. Whether or not this is a problem, however, depends on the expertise of the specialist or department using it.

Leasing for Flexibility

Leasing provides a set of advantages which are often favorable for smaller businesses and startups. Some of the key advantages provided by leased equipment are flexibility and the elimination of the cost of acquisition. Leasing also allows companies to get their hands onto necessary equipment which their budget might otherwise preclude.

However, leasing introduces other complications which may or may not prove beneficial to a business. For instance, many leasing companies require that the client purchase consumables from them, and only use their service technicians. Growing companies may find themselves locked into an equipment lease which no longer suits their needs. They may also find themselves subject to limitations on how the equipment might be used.

How Does Leasing Work?

When a company leases a printer, they first work with a sales rep to gain a clear understanding of the company’s specific printing needs or goals. The sales rep will help identify models that will best meet these needs. The leasing company will usually transport and install the devices. Likewise, many companies will also train employees on how to use the models.

With leasing, the printer does not belong to the company. In many cases, when the lease is terminated, the printing equipment is returned to the leasing company. However, it’s becoming more common to find lease-to-own policies, where the company does own the printer when the lease is completed in full.

Finally, leasing often occurs with managed print services, where the equipment is part of a package which includes services and supplies. At Cartridge World Quad Cites, companies can acquire a suitable printer at no additional cost with a contract to purchase all printing supplies and at least three reams of paper per month. 

Lease vs. Buy Equipment: Which Is Better?

Neither route is necessarily better or worse overall. Instead, it depends on what a company needs from its printing environment. That said, it’s best to opt to purchase a printer when the company:

  • Can afford the cost of acquisition.
  • Knows exactly what it wants and needs.
  • Doesn’t want to be locked into a contract.
  • Needs total control over the equipment.
  • Has a specialist capable of operating it.
  • Expects to have the equipment for a long time.

Printer leasing, however, can prove to be much less work than ownership. Therefore, choose to lease a printer when a company:

  • Needs more generalized equipment but can’t afford the acquisition cost.
  • Would benefit from the guidance of experts for selection and support.
  • Wants to be able to upgrade or switch out equipment every so often.
  • Doesn’t want to deal with upkeep or managing supply inventory.
  • Is able to secure a flexible contract which can be adjusted as needed.

Printer Leasing with Cartridge World QC

Printer leasing can simplify printing solutions for companies which prefer to stay focused on making the business run rather than the printers. Cartridge World QC offers flexible, cost-effective printer leasing for companies with demanding printing needs.

We work with a variety of world-renowned printer manufacturers to deliver top-of-the-line solutions that work for our clients. Start a conversation today to discover the many options we provide for our clients.