When acquiring a printer for your business, you have two main options: renting and leasing. Each option has advantages and disadvantages, and which is better depends on your specific needs and circumstances. Whatever your printing requirements, choosing between a printer rental and a printer leasing company often depends on personal reasoning and preferences. Here are some factors to consider:
Cost: Renting a printer is generally more economical upfront than leasing. However, leasing is more cost-effective in the long run, as you can negotiate a lower monthly payment and avoid the cost of repairs and maintenance.
Flexibility: Renting a printer offers more flexibility than leasing, as you can usually rent a printer for a shorter period and return it without penalty. On the other hand, leasing typically requires a longer commitment and may have penalties for early termination.
Maintenance: When renting a printer, the rental company is usually responsible for maintenance and repairs. You may be responsible for maintenance and repairs with a lease, which can add to your overall costs.
Upgrade Options: If you anticipate needing to upgrade your printer in the near future, leasing is a better option, as you can negotiate an upgrade as part of your lease agreement. With renting, you must return the printer and rent a new one.
Tax Benefits: Depending on your location and circumstances, leasing a printer may offer tax benefits that renting does not.
When a business needs a quality printer, many choose to rent or lease instead of buy. Some reasons pertain to cost, while others revolve around the overall printing needs and the time spent printing materials. Today we’ll look at some of the similarities and differences between the two and their comparisons to purchasing prices.
A printer renting company is in the business of renting printers to businesses or individuals. Most rentals are short-term but can be extended with agreements between the rental company and the customer.
Printer renting or leasing allows customers quick access to high-quality printers without paying full price for a new or refurbished printer. Many printer rental companies also provide service, maintenance, and restocking of printer consumables like toner cartridges. Some also offer managed print services software solutions.
Deciding to rent or lease a printer is an easier task for your business. You’ll start by self-assessing your business and determining the average amount of printing you produce per month or year.
Once you assess your needs, you’ll want to consult the printer rental company and determine which machines will best handle the job. You’ll also want to think about the kind of printing you’ll be doing now. For instance, is it more color or black and white? Is it document printing or image printing? Will the printing jobs need to be stapled and collated?
After you’ve settled on the right printer, the next step is to agree with the rental or leasing company. Some companies will ask for a contract or rental agreement for a pre-determined timeframe. Others offer rentals or leases for as long as the customer needs, with the option to cancel anytime.
Then, when the business no longer needs the printer, it will contact the rental company to schedule the unit to be picked up or returned. Each rental or lease company operates differently, so check the fine print carefully.
Renting or leasing printers is advantageous for adding some much-needed equipment to your office, whether long-term or only for a month.
One of the biggest reasons for considering renting or leasing a printer is how cost-effective the service becomes, especially over longer terms of service. Monthly payments are relatively low and often cover the costs of consumable printing materials, customer service, maintenance, parts and labor, and even on-site printer servicing.
For payments, customers simply pay for the month and receive complete printing capabilities for that timeframe.
Printer rental companies realize that their customers are varied and have different motivations for renting a printer or group of printers. Accordingly, it's in their best interest to be flexible and offer easy ways of requesting changes or amending rental terms.
Rental or leasing companies are also an excellent choice because of their ability to provide additional equipment as your business grows. Offering scalability allows businesses to expand without worrying about having the necessary equipment to remain successful and profitable.
Many rental and leasing companies include printer repairs in their monthly rates. It’s in their best interest to keep printers working for customers because of their reputation. It’s also in the rental company’s best interest to keep thor potential rental equipment working properly and available.
Just like with repairs, rental and lease companies should maintain their machines to continue offering value to the company and its customers. Customer support can also help customers to problem solve, understand their printers better, and, most importantly, develop loyalty for the rental/lease company.
Allowing customers to rent or lease without intense or binding contracts often helps customers to feel less trapped. Giving customers easy options also helps loyalty and encourages customers to keep using the rental service.
The costs of renting or leasing a printer can often be written off as company expenses. Additionally, certain taxes, like capital gains can be offset with some rentals or leases. Consult with an accountant to understand all the taxation benefits you may be entitled to.
In summary, renting a printer may be a better option if you need a printer for a short period, have limited upfront costs, and want to avoid dealing with maintenance and repairs. Leasing may be a better option if you need a printer for a more extended period, prefer the option to upgrade, and are willing to handle maintenance and repairs. Ultimately, it's essential to consider your specific needs and circumstances before deciding which option is best for you.
Renting or leasing a printer can be quite an advantage for your business. Deciding which is right for you will ultimately be a decision for you to make. Regardless, the practice represents an intelligent and cost-effective choice for any business. Contact TotalPrintUSA today to see which printer is right for you.