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Understanding The Difference Between Photocopier Leasing and Rental

November 28, 2017
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Understanding The Difference Between Photocopier Leasing and Rental

The way we work, and the modern office, has changed dramatically over the years. Office equipment has also evolved to meet the current demands of the workplace. Here’s how to distinguish between leasing and renting a photocopier for your office, because although they might appear to be the same, there is a difference between the two. Therefore, if you are pondering whether to rent or lease a photocopier, here are some ideas that you should take into consideration.

Leasing

For a lease agreement, the client will agree to the monthly amount to be paid over a certain period of time. This is a longer time and there is a contract that needs to be followed. After signing the contract, the photocopier will be delivered and can be used. The lessor also covers the expenses for repairs and maintenance. Although, generally, leasing is more expensive, if you consider what it covers it might be worth the price.

The main benefit is that you don’t need to pay for the equipment upfront. The terms are flexible, and the payment option is over an extended period of time. The minimum is usually 1 year and the maximum is 5 years. The amount to be paid monthly, or quarterly, will depend on the lease period over which you intend to lease the equipment.

There is an option of buying the equipment at the end of the lease. The amount will then be calculated by the lessor based on fair market value for the equipment. Usually, this is drastically reduced since you have already paid for it over time. On the other hand, if you have seen better photocopier models and you think you can use them more at work, you just have to return the current photocopier and get the newer model.

Rental

Although leasing and rental are similar in the sense that there is no upfront cost and you don’t own the photocopier, rental is only for a certain period of time. The cost is way higher but if you think you won’t use it for a long time, this might still be suitable. Cancelling the agreement is also more flexible for equipment rental. Trading up to get a better photocopier model is also possible with photocopier rental. You can opt for the most sophisticated photocopier if you are willing to spend the necessary amount, for even just a specific project.

The best choice

In the end, it is your choice as to whether your business needs photocopier leasing or rental. It depends on what you think is best for your business. You have to consider the amount that you are willing to spend along with the kind of tasks you expect to do. Once you have made up your mind, check out www.copyrightsystems.co.uk and select a photocopier now. Your business deserves only the best.