The more money you can save on costs to run your business, the better. However, business decisions are not always just about the bottom line. In some cases, the line between the red and black can be a little blurred. Such is the case when trying to decide between buying or leasing a printer. Printers used for large-scale business applications can be expensive and cost you significant money up front. Printer rental in London is an option to allay those costs, but you may end up paying more in the long run. You should take into account several considerations when deciding between the two.
The initial cost for buying a printer for your office may be several hundred or thousand dollars. This amount depends on the quality of the equipment you buy. You may need more than one printer. The initial cost of renting printers is significantly less than buying printers outright. You may end up paying an initial security deposit and your first month’s rental fees, but this should leave you with some additional money in the bank that you can use for other purposes.
As technology continues to change rapidly, it may be necessary to replace your printers fairly often to keep up with those changes. If you buy your printers, replacing them will cost you a significant amount of money each time you do so. This may give you reason to hold off on purchases for a year or two until your old printers become obsolete. If you have a good lease, however, you may be able to upgrade your equipment without any significant change in price and as often as needed. The downside to leasing, in terms of technological upgrades, is that you may not have much choice when it comes to the new equipment you get.
Leasing with the right company can present you with a significant advantage when it comes to getting technical support. Leasing companies generally provide support for the products they lease, and such support may cost you no additional money out of your pocket. Buying a printer, however, will require that you pay for your own repairs and rely on the manufacturer for technical support. This can prove to be expensive if you have to buy additional parts. The cost of printer ink also may add up fairly quickly if you buy, whereas a leasing company may replace ink for you as needed.
When it comes to tax deductions, both printing and leasing can help you reduce your tax liability. In general, the Internal Revenue Service will allow you to deduct certain costs associated with running your business. Equipment costs, whether leased or purchased, are usually lumped in with those tax deductions. Generally though, the tax deductions tend to be more significant if you purchase the equipment.