Countless innovations in our modern-day technology have emerged. They have become a necessity to all offices. One of which is in the facet of the busy world of printing – the Copier Leasing.
The copier leasing services are now widely known in almost all the developing countries around the globe. One of the renowned service providers of copier leasing in San Diego offers the best price guarantee of the world’s most trusted copier brands. Copier lease in San Diego does not require large upfront payment for any of their copiers for lease and rent.
Legal Offices regards copier leasing services as one of the best options for day-to-day activities considering such innovations. However, every office must also distinguish the pros and cons of the said leasing. What are the things they need to consider?
Knowing the basics is always a must in availing copier leasing services – from financial to features. The following must be carefully taken into consideration:
- Expected Budget: Here, the budget is predictable; it means you know exactly how much you will spend, as well as the flexible payment terms offered by the service providers;
- Tax Benefits: Payments for copier leasing are pre-tax business expenses. It allows deducting your monthly payment from your yearly taxes;
- Comfort and Convenience: With leasing, you will never get stressed whenever the copier stops or needs service because the repair and maintenance are both parts of the package deal. Efficient technicians conduct on-site repair anytime, anywhere, which means equipment breakdown is never an issue. Therefore, the convenience of both client/s and service provider is no longer at stake.
- Easy Upgrades: Leveling-up easily is one useful feature of copier leasing. Every 2-3 years, upgrading to the newest technology is being done to take advantage of the cost-saving features in a very timely manner.
The above mentioned clearly states the benefits or advantages of copier leasing. On the other side of the coin, it also has significant drawbacks:
- Ownership – You do not own the copier, which means it is not an asset to your company;
- Commitment – It has a fixed or set monthly payment for an expected timetable;
- Long-term costs – Copier Leasing may include interest and fees, and just like most leasing agreements, you end up paying more for the machine by the end of your term than if you would have purchased it upfront;
In addition to this, knowing the types of copier leases is likewise crucial in learning the basics. The following are the types of lease to be considered:
Fair Market Value Lease (FMV)
A Fair Market Value Lease (FMV) is the most popular form of acquiring a copier. It is regarded as the best way to get a high-efficient copier with the newest technology at the lowest monthly price. If you are still considering buying the copier at the end of the lease, this would surely be your best option. You will not have to pay for the disclosed full price of the copier when the lease ends, which means you can purchase the equipment for a price that the vendor reckons as a fair market value.
Now, suppose you are no longer interested in buying the machine. In that case, you can return the device to the vendor and upgrade to a newer, more high-end copier, often at a similar monthly cost. This is the best advantage for companies with growing needs and want to capitalize or invest in newly available features and integrations or software.
This is the type of lease wherein you get to buy the copier for $1 at the end of your lease term. What is the trade-off? It merely shows that your monthly lease payments will then be higher than they would be on the Fair Market Value Lease agreement. The main benefit of this type of lease is that you merely get the reward of ultimately owning the copier without having to put upfront capital to outright purchase the equipment.
There’s no perfect solution to every copier leasing endeavor. However, there are helpful ways to know the fundamentals to get in the best and right direction when the time comes that you decide to replace your law office’s copier.