Your New Copier: Should You Lease or Purchase?

Chicago copiers

Are you in the process of deciding between leasing and buying new copiers for your Chicago business? Some business leaders like the flexibility of leasing, while others are firmly in the purchasing camp.

Both options for acquiring new copiers have advantages and disadvantages, and the decision depends largely on your available capital and personal preference.

Leasing vs. Purchasing

Both leasing and purchasing your company's copiers deliver some financial benefits. Let's take a look:

1. How would you prefer to pay? SMBs may find that industry-leading copiers are a bit of a financial strain on tight budgets, and this is where leasing shines the brightest. By stretching the cost out over a specified time, your company won't need to come up with the large cash payment required when negotiating a purchase.

2. Tax time advantages. Under IRS Code Section 179, monthly lease payments are fully tax deductible. A purchase may require complicated depreciation schedules that stretch out the tax benefit over a few years.

3. Equipment upgrades. Some companies prefer leasing because they can trade up for new features sooner. Purchasing often requires businesses to hang onto outdated equipment longer, which means they miss out on the latest technologies.

4. Budget flexibility. A small business loan can help you acquire copiers for your Chicago business, but many companies prefer not to use lines of credit for something other than capital projects. Leases offer flexible terms and are often easier for small companies to obtain than a loan.

5. Service. The typical lease agreement includes service and routine maintenance—a real savings when your equipment breaks down. Purchasing your copiers means you'll be responsible for repairs, parts, and maintenance unless you obtain a service agreement.

If you're ready to bring new copiers into your Chicago workflows, contact us at Proven IT for a consultation today!

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