Lease or Buy? How Should You Acquire Your Next Copier?

Chicago office equipment

If you're in the process of choosing new office equipment for your Chicago business, you may be wondering if you should opt for a lease or purchase your devices outright. The answer depends on your budget situation and how the benefits of each option line up with your requirements.

Leasing Benefits

Leasing office equipment is a popular option for Chicago businesses. With benefits that make it easy to acquire the right office equipment, leasing may be the right choice for your organization.

1. Budget flexibility —You may not have the cash or credit to purchase the office equipment your Chicago business needs to keep up with the competition. Leasing won't require a large down payment, and a fixed monthly payment gives your company flexibility to make decisions going forward.

2. Faster equipment upgrades —Purchasing is a substantial cash investment, and you may be reluctant to upgrade. Upgrading your copiers through a lease is a straight-forward process that gives your company access to the latest imaging technologies much sooner than would otherwise be possible.

3. No repair costs —Ownership implies that you're on your own when it comes to repairs. Leasing your Chicago office equipment eliminates the maintenance costs and responsibilities that accompany ownership.

Purchasing Benefits

If your Chicago company's budget can manage an office equipment purchase, there are some definite advantages to ownership.

1. No interest or fees —The overall cost of an office equipment purchase is less than leasing or financing.

2. Changing requirements —Ownership means you're not locked into a lease agreement; you can decide to take your equipment out of service and purchase or lease something new at any time.

3. Tax advantages —Equipment costs can be deducted as an expense on your income tax return.

Is your Chicago company due for an office equipment upgrade? Contact us at Proven IT to learn more today.

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