The success of your company lives and dies by the financial decisions that you make, like the advantages of leasing or buying an office copier. As a business owner or purchasing manager, all of your financial decisions must be right, sound and must be staying within your operational budget, and making maximum profit.
Whether to buy or lease your office copier is a massive decision. The bottom line is that even if you have the extra capital lying around, there are still some distinct advantages of office copier leasing for your company.
Leasing your office copier requires less upfront capital
One of the most important advantages of leasing a copier is that there is less upfront capital needed. This option is most helpful, whether you have the cash on hand or not. You do not need a down payment when you lease a multifunction copier, there is typically no down payment needed. This means that you virtually do not need any cash when signing the lease agreement or the SLA or service level agreement. The need for a bit of cash to absolutely no money allows you to get the copier to your office when you need it.
You can also opt for one monthly payment. Instead of paying for the whole machine upfront, leasing allows you to make monthly payments. Monthly payments can help manage cash flows and it ensures your business is working within a set budget. Copier Leasing in Little Rock also allows you to allocate capital towards other areas of your business that are in greater need permit you to get the benefits instead of being tied up in a piece of equipment.
Imagine for a moment that you use all of your extra capital to buy a copier, and then down the road, you have a business expense emergency come up. Unfortunately, in this scenario, your safety net is gone and your company is now in a jam. Copier Leasing in Little Rock helps prevent these types of scenarios from happening.
Tax advantages of copier leasing
As a manager or business owner, you know that your company can use every tax break that you can get. Copier Leasing in Little Rock offers great tax benefits to your business that is more advantageous than buying the copier outright. When you lease a copier, you can count the payment as a pre-tax business expense. This means that you can deduct the whole payment each time.
Stay up-to-date with the latest technology
You are probably aware from experience that technology, like buying computers or cellphones, becomes obsolete quickly. We have all been in a situation where you have bought a new phone and at the time, it was the latest piece of technology on the market. But in a few months, a better version was released. Technology changes really fast, and the same holds true for multifunction printers and copiers. In our world where technology is fast evolving, there are constantly updated models being released.
When you think about it, it might not always be financially good to upgrade your copier if you have bought them outright continuously. In most cases, you will end up losing a lot of money. The most beneficial way to get a return on investment when buying an office copier is to pay off the machine and keep using it. This option can be very frustrating if your business benefits from staying up-to-date with technology.
Copier Leasing in Little Rock allows your company the ability to upgrade more often without losing money because you won’t have a massive sum of capital tied up in the equipment. Something else to consider is that since you do not actually own the copier, the office copier leasing company might allow you to upgrade your copier if you are eligible or if your contractual obligations are met.