If you are looking at getting a copier for your business, you may be wondering if it makes more sense to lease or to rent a copier. You maybe thought a copier lease was a rental. It can seem confusing if this is something you don’t do every day.
We have rented and leased copiers for over a decade.
In this article, we will go over the differences between a copier rental and a copier lease so you can decide what is better for your company.
What is a Copier Lease?
A copier lease is where a bank or company decides to finance a copier over a set period of time. There is a principal amount, which then is multiplied by a lease rate factor to come up with a payment. These numbers are fixed and are generally 3 or 5 years. At the end of the lease there is normally an option to purchase the device at market value (FMV) or $1, depending on the lease type you signed up for.
When to Get a Copier Lease
You should get a copier lease when the following applies:
- You want to use the same copier for a long period of time (to reduce setup and training of staff)
- You plan to use the copier in the same way over time
- When you would buy the copier because it is what you want
- You prefer a new copier to start
- You need a lower monthly payment
What about a Copier Rental?
A copier rental is just what it sounds like, a copier company may have some extra units (old leases that have expired and they got the copier back) and rather than retire those copiers, they decide they could be used as part of a rental fleet.
Generally, these copiers were at one time leased, and now they are owned by the copier company who chooses to rent them out rather than recycle them.
When to Rent a Copier:
Most of the time, people rent when they want something short term or when they don’t want long contracts.
- Perfect for a job site, like a work trailer at a construction site that is there for 6 months
- Good for a new business growing fast who believes their needs today are different than they will be in 6 months
- Can be good for special jobs like attorneys doing a 1 week intensive case prep, especially if it is away from the home office
- Good for trade shows and other short term events
Generally, a rental would be more of a short term solution and a copier lease would be a long term solution. If you have questions about the differences between a copier lease and a copier rental, please give us a call!
We help clients with copier leases all over the USA and copier rentals in specific markets where we have the available inventory to support a copier rental fleet.
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