Should you lease or buy your office technology?

Should you lease or buy your office technology?

If your business needs new multifunctional devices, you may be investigating if you should lease or buy this equipment. Today, the majority of our clients lease their equipment, since technology changes rapidly. The traditional office copier is no longer just a printer and scanner – with the digitization of these devices, they have become a powerful tool performing multiple document management tasks and even helping your business become more environmentally friendly.

Leasing

Leasing helps to keep your equipment up-to-date. It’s no secret that printers & copiers have made great strides in the last decade – as they continue to improve, outdated technology could weaken your business’s productivity.

When you lease a machine, the service of that machine is handled entirely by the equipment supplier. At Virginia Business Systems, for instance, there is a 4 hour guaranteed response time, limiting your company’s downtime. Our service technicians participate in rigorous continuing education so that they’re able to handle any maintenance needs, and VBS has been a 17 year winner of the Pro-Tech service award from Konica Minolta.

Similarly, leasing takes care of the work and costs of toner and other supplies. Our predictive toner readings ensure you’re never without a working machine.

Our machines also come standard with a 5-year Total Satisfaction Guarantee. If you are not totally satisfied with the performance of your device from VBS, we will replace it without charge for a similar model for up to 5 years from date of installation.

Finally, with leasing, there is an option to buy out your device. Your company has choices between either a fair-market value option or a $1 buyout option. This means that you’ll have the option to purchase your device outright if you’d like to.

Buying

When buying equipment, tax write-offs could be different than leasing, since your company will have purchased an asset, and should be able to use this as a tax deduction. However, when buying, there could be a much larger cost upfront to your company.

When purchasing equipment, it’s important to know that this equipment will eventually become obsolete. If technology continues to improve at its current rate, your device could be outdated in 3 years.

Servicing purchased equipment can be expensive and in some cases even in dangerous.

After purchasing equipment, once you no longer need it, the burden is on you to donate, sell, or recycle the equipment.


The decision to lease or buy is based on your particular document management needs and business goals. If you have any questions about leasing versus buying, or are interested in seeing our showcase, please contact one of our specialists for more information. We can be reached at (804) 270-7003, or by utilizing the contact form on our site at http://www.edwardsbusiness.com/contact-form.

 

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