Why Consider Leasing Office Equipment?
Ever considered leasing office equipment? It can save a company a lot of money. Many companies turn to leasing office equipment because it’s a quick, convenient, and cost-effective way to evolve their technology rapidly. Leasing offers greater flexibility for companies that need specific technology but can’t or don’t want to purchase it.
James Imaging is pleased to offer office equipment leasing to small businesses in Wisconsin.
Leasing Office Equipment: The Cost-Effective Way to Evolve
There are many advantages and benefits to leasing office equipment, particularly devices like printers and copiers. These include:
Reduced Acquisition Costs
Purchasing new office technology outright is expensive – often prohibitively so. Yet businesses still need access to these tools to operate adequately. Leasing office equipment can help reduce steep acquisition costs and make it simpler to acquire the necessary devices.
Access to Advanced Technology
Leasing office equipment may help companies acquire devices like printers or computers that are more powerful than what they could afford on their own. This helps the company stay competitive and relevant without taking on excessive debts to make it happen.
Flexible and Scalable Solutions
Office equipment leases may be as short as six months or as long as several years. Such terms make it easier for companies to switch out and scale their technology to meet their needs. Therefore, leasing office equipment is often preferable to companies that always want to have the latest models.
Owning and operating devices like printers or computers can get pricey. There are many hidden costs, such as unexpected maintenance or the need to outsource jobs that the device can’t handle. In contrast, leased office equipment usually comes with a flat rate bill to keep devices affordable and budgets in line.
Types of Leases for Office Equipment
There are two main types of leases for office equipment. Both can be effective, ideal solutions according to the specific needs of the company. The two main types are:
1. Fair Market Value Leases
Fair market value leases function like rentals. A company leases a piece of equipment at the fair market value, paying a fee each month to use the device. When the lease ends, the company can choose to buy the device if they want – but they don’t have to. The price of the device factors in depreciation, wear, and the presence of newer models, but it’s an additional cost that isn’t factored into the lease. Fair market value leases are preferred by companies that don’t want to deal with owning a device and want to upgrade to the latest model constantly.
2. Buyout Leases
Buyout leases, also called lease-to-own, assume the company is going to buy the device at the end of the contract. The price of the device gets added to the monthly rate so there isn’t necessarily an additional payment at the end. A buyout lease functions more like financing and is intended for companies that plan on eventually purchasing a device but may not have the money upfront. They’re less common than fair market value leases but can be a smart move according to a company’s needs.
When to Consider Leasing Office Equipment
Leasing office equipment has many advantages over buying the devices outright. Consider leasing devices or equipment if most of the following are true:
● The company is evolving rapidly and experiencing changing business needs: Leasing provides the flexibility needed in the company’s technological infrastructure to keep up with the change.
● Specific technology is needed, but it’s outside the budget: Leasing helps alleviate budget pressure.
● There are concerns about compliance regulations: A leasing service understands such rules and can help identify the most appropriate devices.
● The company wants to try different models before settling on an option: Sometimes, the best way to tell if a device is a good fit is to try it out first. Leasing allows companies to do exactly that, minus the pressure to purchase.
Get the Necessary Technology With James Imaging Today
Leasing office equipment is a strategic move in many cases. It empowers companies – especially small businesses and startups – with the technology they need to put a competitive foot forward. Printers and other pieces of office technology represent sizable investments, making it risky if it turns out to be inadequate or inappropriate for a business’s needs. However, with leasing office equipment, a company can sidestep such risks entirely.
Working with a skilled professional in the office technology industry ensures that a company enjoys all the right devices. Work with James Imaging to identify a company’s office technology needs and choose the best tools to propel a business to success.
To learn more about our leasing process, contact us today.