Even in today’s digital world, printers play a crucial role in the day-to-day running of an office. From scanning to copying documents, a printer is something that many businesses can’t do without. However, there is no denying that modern printers can be expensive and it’s becoming increasingly common for businesses of all sizes to explore printer leasing.
This alternative to purchasing a printer allows you to use a high-quality printer without purchasing it outright and you can benefit from ongoing support. Not everyone is familiar with how printer leasing works and the types of agreements involved. In this post, we have delved into leasing office printers in more detail, providing an overview of the process.
The Basics of Printer Leasing
In short, printer leasing is an arrangement where a business rents a printer from a printer leasing company for a specific period. It is typically a long-term agreement, but the lease can be anywhere from a few months to several years depending on your specific needs. When leasing a printer, you will typically pay a fixed monthly fee for the duration of the lease agreement.
The printer remains the property of the leasing company and once your lease comes to an end, it is returned to them. You often have the option to extend the lease or upgrade to a newer model if you still require a printer for your office. Printer leasing companies offer a wide variety of printer models, from basic to high-end, to meet different business needs.
Financial Benefits of Printer Leasing
One of the most appealing benefits of printer leasing is financial flexibility. Purchasing a printer requires a significant upfront investment, which can be a challenge for smaller businesses or startups. Leasing eliminates this initial cost, allowing businesses to allocate essential funds to other areas. Not to mention, leasing costs are usually considered an operating expense, making them tax-deductible, which can be another financial incentive.
Understanding a Printer Leasing Agreement
Whenever you lease a printer, it’s crucially important to understand the terms and conditions of the agreement. Not all printer leasing companies have the same agreements and this can cause confusion both during and after the lease term. There are a few important things to double-check when you’re reading a lease agreement;
Monthly Payments
The agreement will specify the monthly payments, which commonly vary based on the model, additional features and maintenance services included. Carefully review any fine print for extra fees, such as for exceeding print limits or replacement manufacturer parts and toner, to avoid unexpected costs down the line.
Lease Term
This is the duration for which you’ll be leasing the printer. Short-term leases offer more flexibility, while long-term leases often come at a reduced rate. Check whether you have the ability to upgrade or downgrade the model too. Keep in mind that some leases have penalties for early termination, so make sure to understand your obligations and options should your needs change before the lease term expires.
Maintenance and Repairs
Most leasing agreements include regular maintenance and repair services, along with customer support for troubleshooting. Make sure to clarify what is covered, including whether the service includes on-site repairs or if you’re expected to send the printer to a repair facility. This can significantly impact any downtime and the overall efficiency of your operations.
End-of-Lease Options
Typically, at the end of the lease term, you can either return the printer, purchase it at a reduced price, or renew the lease. Some contracts also offer a ‘lease-to-own’ option, where your monthly payments have contributed toward the eventual ownership of the machine. Assess your future needs and discuss these options in advance to make a well-informed decision.
Find Out More About Printer Leasing in London
Ultimately, printer leasing offers businesses a flexible and cost-effective solution for their printing needs. By understanding what printer leasing entails and what to look for in a lease agreement, you can make an informed decision that aligns with your business needs. For modern offices, printer leasing is always an option worth exploring and at COS Sales, we can provide you with a comprehensive service for printer leasing in London.
We supply a vast range of printers and photocopiers, and we are a leading dealership for several well-known brands. Our transparent packages are ideal for businesses of all sizes and our managed print services can help you to get the most out of your print solutions. At COS Sales, we are proud to say that over 95% of businesses renew their printer leases with us and we are committed to providing exemplary customer service. If you have any questions about how we can help you with printer leasing, don’t hesitate to contact us today.