Many businesses might be striving to go paperless, but printers and copiers are still essential fixtures in offices across the globe. Workers rely on these devices daily, but the costs of high-end business printers can be exorbitant. A copier lease could be the cost-effective alternative your company needs.
This guide will explore how copier leases work, while also highlighting some of their biggest benefits.
What Is a Copier Lease and How Does It Work?
Let’s kick off with a quick definition. A copier lease, as you might imagine, is when you lease or rent a copier from a provider, rather than buying it outright. Leases can run for a few years on average – during that time, companies pay a fixed monthly fee to use the copier.
Companies can negotiate copier lease agreements with providers and then sign a lease contract to secure their devices. In signing the contract, the company agrees to pay the relevant fee each month. In return, the leaser provides full access and usage of the device.
Many copier lease contracts even come with maintenance agreements. That means that, if anything goes wrong with the copier while you’re leasing it, the provider will take on the cost of repairs. Some contracts also allow you to own the copier fully, once your lease period comes to a close.
There are a few different varieties of copier lease to choose from:
- Installments: An installment lease isn’t exactly a lease, in the traditional sense. It’s more like a payment plan. With this plan, you’re essentially agreeing to buy a copier, but you’ll pay for it in installments, rather than in one lump sum.
- FMV: FMV stands for “Fair Market Value.” This sort of copier lease gives you the possibility to buy your copier at a fair price, once the lease term ends. This is handy for businesses that have grown used to a certain copier and don’t want to have to give it up.
- $1 Out: A so-called “$1 Out” lease is a lot like an FMV, but you only pay a single dollar to own the copier. Your monthly payments will typically be a little higher with this lease, but you’re effectively sure to own the copier at the end. You could then resell it to get some money back.
The Big Benefits of Leasing Copiers
So, now you know the basics of a copier lease, but you might still wonder whether or not it’s right for your firm. Here are some of the most notable advantages.
The most obvious benefit of a copier lease is the amount of money it can save you. High-end copier models are pricey. In fact, some of them can cost in excess of $10,000. That’s not the kind of money that the average small business can afford to simply throw around. Even bigger businesses have to think twice before spending so much on a piece of office equipment.
Well, with a copier lease, your upfront costs will be a fraction of what they would be with a purchase. You won’t need to part with thousands of dollars in one fell swoop. Instead, you can take on much more manageable monthly payments. This is particularly beneficial for startups and smaller businesses that need copiers to operate but can’t afford to buy them outright.
Easy Access to High-End Devices
Copiers have come a long way over the years. Old models are pretty basic. They copy pages at a pretty slow rate, require a lot of manual input and effort, and don’t have any fancy features. Modern models, however, are totally different. They’re significantly swifter, with rapid copying rates. Many are also capable of printing, scanning, and faxing, as well as having advanced features, like automatic feeding.
Usually, such high-end devices are beyond the budget of the average small or mid-size business. But, when you sign a copier lease instead of purchasing, the very best models become much more accessible. Even brand-new businesses with limited budgets can afford to bring top-tier copiers into their offices, and those devices can help your small business rapidly grow.
Maintenance and Repairs Included
If you buy a copier, you don’t just have to take on the massive up-front cost. You also have to think about the long-term, recurring costs that come with repairs and maintenance for your device. But that’s not an issue if you lease. With a copier lease, as stated earlier on, the lease provider will often handle the cost of repairs as part of the contract.
Paper jams. Breakdowns. Complicated error codes. You won’t have to worry about any of those issues if you take out a lease with maintenance included. If any problems arise, you can count on the provider to help out. That way, your copier will be back up and running in no time, at no extra expense to your business.
Flexible Options for Every Business
If you purchase a copier, that’s it. You pay the full price, you get the copier. That’s the only option. But if you opt for a copier lease instead, you’ve got multiple options to choose from. There are “Fair Market Value,” or FMV leases, for instance, that let you purchase your copier at the end of the lease term. Or the aforementioned “$1 Out” leases.
Some firms are very flexible with their lease agreements. They’ll often be willing to negotiate, which can give your business a better deal. Certain companies will even offer upgrade options, where you can switch to a fancier, more advanced model once you reach the end of your lease. That lets you keep on upgrading your office tech to match your business needs as it grows.
A Copier Lease Could Be the Solution
So, if you’re setting up a new company or looking to acquire a top-quality copier without breaking the bank, perhaps a lease is just what you need. It can help you save money, give you less stress concerning repairs and maintenance, and even help you boost office productivity with a top-of-the-range model.
If that sounds like a good fit for your business, Elite Imaging Systems is ready to help out. As Michigan’s No. 1 office equipment provider, we can help businesses in Troy, Detroit, and Flint get the copiers they need, with fair, affordable copier lease agreements. Contact us today to learn more.