What Leasing Options Are Available for Office Equipment?

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In today's fast-paced business environment, it's crucial to stay ahead of the curve when it comes to office equipment. From printers and copiers to computers and UCaaS solutions, having the right tools at your fingertips can make a significant difference in productivity and efficiency. That's where leasing options come into play, offering businesses the flexibility and cost-effective solutions they need to thrive.

Let’s take an insider look at the world of office equipment leasing and what it could mean for your business. In this article you’ll learn about:

There is a leasing solution to suit every business need. By spreading out the cost of equipment over time, businesses can free up capital for other expenses while ensuring they have access to the latest technology.

RELATED: The Difference Between Office Equipment Rental and Leasing

Understanding the Benefits of Leasing Office Equipment

Leasing office equipment can provide several benefits for a company. One of the main advantages is cost savings. Instead of purchasing expensive equipment outright, leasing allows businesses to spread out the cost over a period of time. This option makes office equipment more affordable, especially for small and medium-sized enterprises while freeing up capital for other important business expenses.

Another benefit of leasing office equipment is the ability to access the latest technology. Technology is constantly evolving, and leasing allows companies to stay up to date with the latest equipment without the need for frequent purchases. This ensures that businesses can operate with modern and efficient equipment, enhancing productivity and competitiveness.

Leasing also offers flexibility. As the needs of a business change, so do its equipment requirements. Leasing allows companies to easily upgrade or add equipment as needed, without the hassle of selling or disposing of outdated equipment. This flexibility is particularly beneficial for businesses experiencing rapid growth or seasonal fluctuations in demand.

Additionally, leasing office equipment provides tax advantages. Lease payments are typically considered operating expenses and can be deducted from taxable income. This can result in significant tax savings for businesses, making leasing a smart choice for many companies. 

Exploring Different Leasing Options for Office Equipment

When it comes to leasing office equipment, there are several options to consider. The first is term length. Businesses are commonly offered multiple term length options of which they can choose for their leasing contract. Shorter term leases are typically 12 months, while others are as long as 60 months.

There are also an array of end of lease terms, as well. Here are three of the most common types:

  • Fair Market Value Lease (FMV) – Purchase equipment at its determined FMV at the end of the lease, return it, or upgrade to new equipment. This type of a lease is also known as an operating or percentage buyout lease and typically has lower monthly payments than other types of leases.
  • Hardware as a Service (HaaS) – Similar to a FMV lease, except there is no purchase option at the end of the lease. Ideal for businesses that intend to replace and upgrade equipment at the end of its useful life. 
  • $1 Buyout Lease – The customer will own the equipment at the end of the lease for the price of $1.

In addition, before signing on the dotted line, be sure to get answers to these standard leasing questions:

  • Will I own the equipment at the end of the lease?
  • Can I purchase the equipment for fair market value at the end of the lease?
  • What is the expected lifetime of the equipment?
  • What other fees am I liable for?
  • If I choose to return the equipment at the end of the lease, what requirements are there and who arranges the shipping?

It's important for businesses to consider their specific needs and requirements, as well as the financial implications of each choice when evaluating leasing options. 

Tips for Choosing the Right Leasing Options for Your Business

When evaluating leasing options for office equipment, there are several factors to consider. Here are some tips to help businesses choose:

  1. Assess your needs: Start by evaluating your office equipment requirements. Consider factors such as the type and quantity of equipment needed, as well as any specific features or capabilities that are essential for your business operations.
  2. Set a budget: Determine your budget for leasing office equipment. This will help narrow down the leasing options available and ensure you choose an option that is financially feasible for your company.
  3. Consider lease terms: Review the lease terms and conditions carefully. Pay attention to factors such as lease duration, monthly payments and end-of-lease options. Ensure that the terms align with your business goals and requirements.
  4. Evaluate additional services: If your company requires additional services such as equipment maintenance or supplies management, consider leasing options that include these services. This can provide added convenience and support for your office operations.
  5. Seek expert advice: Consulting with a Managed Print Services (MPS) provider with in-house leasing services can provide valuable insights and guidance in choosing the right leasing option. They can help analyze your needs and create a contract that best fits your business.

By following these tips, businesses can make an informed decision and choose leasing options that best suit their office equipment needs and budget. 

Benefits of Working with a Managed Print Services Provider with In-House Leasing

Working with a MPS provider that offers in-house leasing services can offer additional benefits for businesses.

Firstly, partnering with a MPS provider can streamline the leasing process. Instead of dealing with multiple vendors for equipment leasing and print services, businesses can have a single point of contact for all their office equipment needs. This can save time and effort in managing different leasing agreements and service contracts.

Secondly, a MPS provider with in-house leasing services can offer customized leasing solutions. They can tailor leasing options to meet the specific needs and budget of a company, ensuring that businesses get the right equipment at the right price.

Furthermore, working with a MPS provider can provide access to additional services and support. In addition to leasing office equipment, MPS providers often offer services such as equipment maintenance, supplies management and workflow optimization. This comprehensive approach can help businesses optimize their office operations and improve efficiency.

Lastly, partnering with a MPS provider with in-house leasing services can provide peace of mind. Businesses can rely on the expertise and experience of the provider to ensure smooth equipment leasing and operation. This allows companies to focus on their core business activities without worrying about equipment maintenance or obsolescence.

In conclusion, choosing the right leasing contract options for your office equipment can have a significant impact on your business's success. By exploring the various leasing options available and partnering with a MPS provider with in-house leasing services, businesses can enjoy cost savings, access to the latest technology, flexibility and peace of mind. 

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