Should you lease or rent your copiers? Understanding Copier Leases

As you grow your business different issues arrise, understanding the distinctions between copier leasing and copier rental is essential for making informed decisions. Both options offer unique benefits tailored to specific business needs, but the right choice largely depends on factors such as the duration of use, budget constraints, and the nature of your business operations.

Let’s explore the specifics of copier leasing versus copier rental, covering various scenarios such as short-term and long-term rentals, seasonal and event rentals, and the types of copiers available for these arrangements.

Copier Leasing: An Overview

Copier leasing is akin to a long-term investment. Think of it as a bit like leasing your car, you drive it for years and at the end of the lease you trade it in to trade it up.  Copiers are similar. 

Businesses that opt for leasing typically engage in contracts lasting between three to five years. This option is ideal for companies with stable operations and predictable document management needs. Here are some key points about copier leasing:

1. Long-term Commitment: Leasing a copier usually involves a long-term agreement, making it suitable for businesses with consistent needs. Our leasing partners typical do 24 ,36, 39, 48, 60, and 63 month terms.  Your Account Executive will work with you to find the term and rate that works for you.
2. Lower Monthly Payments: Compared to outright purchasing, leasing spreads the cost over several years, resulting in manageable monthly payments. This helps you keep cash in house and allows you to use your funding in other areas. 
3. Access to Latest Technology: Leasing agreements often include options to upgrade to newer models, ensuring that your business benefits from the latest technology without the burden of obsolescence. This is really the best reason to lease instead of buy.  Security upgrades, updates to the devices, new devices entirely all come within 3-5 years of each iteration. 
4. Maintenance and Support: Many leasing contracts come with comprehensive maintenance packages, ensuring that the copier is always in top working condition. This is a cost saver too, and we have plenty of other blogs about why.  Make sure you check those out for more information.
5. Tax Benefits: Lease payments can often be written off as a business expense, providing potential tax benefits. This is also well covered in our learning center, Section 179 is available all year long and your business should be taking advantage.  Ask your CPA/Financial Advisor why.

Copier Rental: An Overview

Copier rental, on the other hand, is characterized by flexibility and short-term usage. This option is perfect for businesses needing copiers on a temporary basis. Here are some scenarios and features of copier rentals:

1. Short-term Rental: Ideal for projects lasting a few weeks to several months. For instance, a construction site office might need a copier for the duration of the project. A legal team may need to rent for offsite litigation.
2. Long-term Rental: Though longer than short-term, these rentals do not commit the business to years-long contracts. This is suitable for startups or businesses in a growth phase unsure of their long-term needs.
3. Seasonal Rental: Companies with seasonal spikes in activity, such as accounting firms during tax season, can benefit from renting additional copiers to handle increased workloads.
4. Event Rental: Perfect for conferences, trade shows, or temporary offices where document handling is crucial for a limited time.
5. Flexibility and Convenience: Rentals offer unparalleled flexibility, allowing businesses to scale their copier usage up or down as needed without long-term commitments.
6. Maintenance Included: Rental agreements typically include maintenance and support, ensuring minimal downtime during the rental period.

Comparing Copier Leasing and Rental

Cost Considerations:

• Leasing generally involves lower monthly payments but requires a longer commitment. Rentals, while potentially more expensive on a month-to-month basis, do not require long-term contracts.

Duration and Flexibility:

• Leasing is best for long-term needs with predictable usage. Rentals offer flexibility for businesses with fluctuating or short-term needs.

Ownership and Upgrades:

• At the end of a lease, there may be options to purchase the equipment at a residual value. Rentals, however, are strictly for temporary use with no ownership at the end.

Technology and Maintenance:

• Both options usually include maintenance, but leasing often provides better access to the latest technology through upgrade options.

Types of Copiers for Lease or Rental

When considering leasing or renting a copier, it’s essential to choose the right type to match your business needs. Here are some common types of copiers available:

1. Multifunction Printers (MFPs): These copiers combine printing, scanning, copying, and faxing into one device, ideal for businesses with diverse document handling needs.
2. High-Volume Copiers: Designed for businesses with high output needs, such as print shops or large offices.
3. Color Copiers: Perfect for businesses needing high-quality color prints, like marketing agencies and design firms.
4. Desktop Copiers: Smaller, compact devices suitable for individual users or small office spaces.
5. Wide-Format Copiers: Used for printing large documents such as blueprints and posters, commonly used in architectural firms and advertising agencies.

Short-Term vs. Long-Term Copier Rental

Understanding the nuances between short-term and long-term rental can help businesses make the most cost-effective and operationally efficient choice:

• Short-Term Rental: This is best for businesses needing a copier for less than a year. Short-term rentals are commonly used for temporary projects, seasonal spikes in business, or events. They offer flexibility and convenience without a long-term financial commitment.
• Long-Term Rental: Typically spanning one to three years, long-term rentals are suitable for businesses that need the flexibility of a rental but for an extended period. It’s a middle ground between short-term rental and leasing, providing stability without a multi-year commitment.

Seasonal and Event Copier Rentals

Seasonal Rentals: Businesses that experience peak seasons, such as retail companies during holiday seasons or tax firms during tax season, can benefit from seasonal rentals. These rentals ensure that businesses have adequate copier resources during high-demand periods without the burden of long-term ownership.

Event Rentals: Large-scale events such as conferences, conventions, and trade shows often require substantial document handling capabilities. Renting copiers for the duration of the event ensures that attendees and organizers have access to necessary print and copy services, enhancing the event’s efficiency and professionalism.

Choosing the Right Copier Option for Your Business

Deciding between leasing and renting depends on a thorough assessment of your business needs. Here are some questions to consider:

1. How long do you need the copier?
   • If you need it for several years, leasing may be more cost-effective.
   • If your need is temporary or uncertain, renting offers the flexibility you require.
2. What is your budget?
   • Leasing typically offers lower monthly payments spread over a longer period.
   • Rentals might be more expensive monthly but don’t tie you into long-term commitments.
3. How important is access to the latest technology?
   • Leasing often includes upgrade options, keeping you at the forefront of technology.
   • Rentals can provide the latest models but without long-term ownership.
4. Do you need maintenance and support?
   • Both leasing and renting usually include maintenance, but the terms and coverage may vary.

Find Out Which Plan is Best For Your Needs

At ABT, we understand that every business has unique needs when it comes to document management. Whether you’re considering a copier lease for long-term stability and access to the latest technology, or a copier rental for its unmatched flexibility and short-term convenience, we have the right solution for you.

Our team of experts is here to guide you through the decision-making process, ensuring that you choose the option that best fits your operational requirements and budget. Contact us today to discuss your specific needs and let us help you find the perfect copier solution to keep your business running smoothly and efficiently.