Copiers are just one piece of office equipment, the normal office now has a host of computers, high end networking components, photo copiers, printers and much more. When there is a need to replace, upgrade or add more capacity, what is best, to buy or to lease? Let us look at the upside and downside of copier leasing in Miami.
The benefits of leasing:
* Your equipment will always be up to date. Office equipment rapidly becomes obsolete, when your equipment is leased it’s the leasing company that bears the cost of obsolescence, not you. If your copier is on a two year lease as an example, after the two years are up you are free to roll over and lease the newest equipment available. New equipment may be cheaper, faster and more reliable. This is exactly why so many people now lease their cars, they are always behind the wheel of an up to the minute machine.
* Your expenses are fixed and predictable. A lease has a set amount which must be paid each period, usually monthly, this can help with budgeting and cash control.
* There is nothing to pay up front: Many fledgling businesses struggle with cash flow. As leases very rarely demand a down payment, new equipment can be had without having to tap into cash which is needed to run the business.
* Keep up with your competitors: Leasing allows the smallest of businesses appear to be much bigger than they really are. Such sophisticated equipment such as VoIP can be had allowing you to keep up with larger competitors with minimal financial stress.
The downside of leasing:
* In the long haul you will pay more than had you purchased the equipment outright. Copier leasing in Miami is always more costly, a copier that costs $4,000 would actually cost well over $5,000 to lease.
* Even if you should stop using the equipment, you have to continue paying the lease. Business models change and the assets needed to run the business change as well. If the copier becomes redundant, you still pay until the lease period has been satisfied.
The benefits of buying:
* It’s easy! If you want something you can just go and buy it, no questions asked. This is not the case with leasing, the leasing company will demand detailed statements of the company’s financial health, and they will also want to know where the equipment will be used. Copier lease in Miami can complicate things, terms can be hard to negotiate and you most certainly end up paying more.
* Deductable: When you purchase your office equipment it can be deducted from your taxes. The IRS allows small businesses to write the purchase off in one year.
When you purchase equipment you will be stuck with it far longer than you would have it been leased and you may find the cash outlay to be too great.
