How much should my financial office pay for a copier lease? 2024

As we head into the new year, it’s clear that now more than ever, that 2024 is going to be a year of business adjustments.  When considering the needs of your financial services office, you understand the importance of having reliable and efficient equipment. A key piece of this puzzle is your copier, and copier leases, vital tools for any bustling business environment.

However, the question often arises: How much does a copier lease cost, and is it the most prudent choice for your office needs in 2024? This blog will guide you through various options like Epson, HP, Canon, and Xerox copier leases, and provide insights on finding the best copier leasing company in Colorado.

Understanding Copier Leases

Firstly, let’s dive into what a copier lease entails. A copier lease is essentially a rental agreement where you pay a monthly fee to use the copier instead of purchasing it outright. This option can be particularly attractive for financial service offices where cash flow and budgeting are crucial.

Copier Lease Cost Considerations

The cost of leasing a copier varies based on several factors including the brand, model, features, and the length of the lease. High-end models from brands like Epson, HP, Canon, Kyocera, and Xerox can range significantly in price.

Epson Copier Lease:

Epson is known for its reliable and innovative printing solutions. Leasing an Epson copier might cost anywhere from $30 to $100 per month depending on the model and functionalities.

HP Copier Leases:

HP offers a range of models suitable for various business needs. Leasing an HP copier can range from $40 to $120 per month. HP printers are known for their security enhancements, geared toward HIPAA Compliance and PERA compliance.  Their high-performance commercial printers are also digital first banking centric.

Canon Copier Leases:

Canon is renowned for its quality and durability. A lease for a Canon copier can range between $30 and $150 per month. Canon offers a variety of MFPs, printers, scanners, fax and wide format copiers for every function within a financial office.

Xerox Copier Leases:

Xerox, a pioneer in printing technology, offers copiers that are robust and versatile. Leasing a Xerox copier can cost anywhere from $50 to $200 per month.

Remember, these are estimated ranges and actual prices can vary based on specific needs and negotiation with the leasing company.  We highly recommend spending time with one of our account executive who can provide a Risk Free Print Environment assessment to determine which devices suit your environment best.

Leasing vs. Purchasing

When deciding between leasing and purchasing, consider the following:

Pros of Leasing:

• Lower Initial Costs: Leasing requires no large upfront investment, freeing up capital for other business needs.

• Up-to-Date Technology: Leasing allows you to upgrade to newer models easily, ensuring you always have the latest technology.

• Maintenance and Support: Leases often include maintenance and support, reducing the headache of servicing the equipment.

Cons of Leasing:

• Overall Cost: Over time, leasing can be more expensive than purchasing outright.

• Contractual Obligations: You’re bound to a contract, which can sometimes include strict terms.

Pros of Purchasing:

• Long-term Savings: Purchasing a copier can be less expensive over the long term.
• Asset Ownership: You own the equipment and can claim it as a business asset.

Cons of Purchasing:

• Upfront Investment: Requires a significant initial expenditure.
• Outdated Technology: You might be stuck with outdated technology as newer models emerge.
• Maintenance Costs: All servicing and repairs are your responsibility.

Finding the Best Copier Leasing Company in Colorado

In 2024, Colorado is home to a multitude of copier leasing companies. To find the best, consider the following:

• Reputation: Look for companies with positive reviews and testimonials.
• Service Agreements: Ensure they offer comprehensive maintenance and service plans.
• Flexibility: Choose a company that offers flexible terms and a variety of models.
• Support: A company that provides excellent customer support is crucial.

Right-Sizing Office Equipment Post-COVID

If you signed a lease in 2019, you signed a copier lease for the pre pandemic office.  Things have changed. The COVID-19 pandemic led many businesses to reevaluate their needs. As your office adapts to the post-COVID world, it’s an opportune time to right-size your equipment. Maybe you’ve downsized your office space, or perhaps your team is more remote-centric. Assess your current and future needs to determine if a smaller, more efficient model would suffice, or if a more robust system is needed to handle increased workload. 

Don’t forget to evaluate the service plans for your devices as well.  Printing overall in offices has been reduced and you may be paying more for your plan than you should be.  An environment assessment can easily adjust your rates and agreements.

The Value of Leasing and Upgrading

In the rapidly evolving business world, staying ahead with the latest technology is vital. Leasing offers the flexibility to upgrade to newer models every few years, ensuring your office is equipped with the latest features and efficiencies. This not only improves productivity but also ensures compatibility with any new software or systems you implement.

Now is the Time to Adjust

2024 is the perfect year to reassess and adjust your business equipment and agreements. With technological advancements accelerating, leasing provides the flexibility to adapt quickly. Additionally, many leasing companies offer competitive rates and terms in the current market, making it an opportune time to negotiate a lease that suits your budget and needs.

Final Thoughts

Deciding whether to lease or purchase a copier for your financial services offices in Colorado is a significant decision. Consider your office’s specific needs, the total cost of ownership, and the potential benefits of having the latest technology at your fingertips. With the right approach, a copier lease can be a strategic move that enhances your office’s efficiency and productivity while maintaining financial flexibility.

Remember, the best choice is one that aligns with your business goals, budget, and operational needs. By carefully weighing the options and understanding the market, you can make an informed decision that positions your financial services office for success in the dynamic business landscape of 2024.