A business is nothing without its employees. Even a mediocre business can find huge success if there is input from a highly skilled workforce. Being said that, there is a limit to what people can do when they do not have the right tools to use. One such tool is a high-performance office printer. For instance, network printer troubleshooting is often a requirement in offices.
As with most costly office equipment, printers can be brought in through either lease or purchase. Every business, sooner or later, has to decide which of these approaches to go with.
All technology becomes obsolete with time, including computers, smartphones, tablets, and printers. If you buy a printer today, there is the certainty that it will go out of date in as little as a couple of years. When you lease, however, this is not a problem. You sign an agreement that holds for a certain amount of time, after which you can return the printer and lease a new one.
Leasing is also good in that it can bring in expensive technology at smart rates for, say, SMEs. Monthly payments would be smaller and the option more cost effective when compared to purchasing a new printer.
The biggest problem with leasing a printer is that over time, the business end up paying more than the actual worth of the printer. For example, if you were leasing a printer whose actual worth in the market is $4,000, at a monthly cost of $120 for three years, then by the end of that time you would end up paying a total of $4,320, which is $320 more than the price the printer could have been bought at.
An issue with leases in general is that the contracts sometimes come with lock-in periods. This divests you of the option to cut short the lease, and you would have to keep paying whether or not you have use for the equipment.
One of the foremost advantages of buying a printer is that the cost of it gets added as a deductible when you calculate tax returns. This means the full cost of the printer gets removed from the taxable income of your business, which can be significant if the printer is an expensive one.
The main flaw of buying an office printer is that you are saddling yourself with a piece of technology that will surely go obsolete in a few years. The selling price will also go down dramatically after that, so you are basically stuck with junk.