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Rental

Why Should I Rent a Photocopier?

If you are a small business, it’s easy to decide to just rent a photocopier due to budget constraints. There are both pros and cons to renting a photocopier, however due to the flexibility and easy budgeting even large business choose this option. We look to the advantages and disadvantages of renting a photocopier.

The trouble with buying

It’s great to invest in a piece of equipment that you know your company will use for a long period of time. However, there are a few cons to buying a copier. Maintenance is one big issue. It can be quite expensive if you own the unit. As the owner, you are solely responsible for your machine if it breaks down. If it is out of warranty, expect the costs of repair and maintenance to be high.

Another aspect is the ink. You should have a constant supply of it especially if you use your machine all the time. You need to purchase a replacement every time it runs out. That is an additional running cost. You may find yourself spending a significant amount of money on ink and other consumables.

Advantages of Renting

First of all, the machine will never be yours but that’s not a bad thing. If you think long term, it might be cheaper to rent as ink and maintenance are usually already included in your contract. If you experience some problems with your unit, all you need to do is report it to your supplier. They can have a technician look at it and repair it on the spot or if the problem is worse, they can pull it out and take it for repairs. When this happens, they usually give you a replacement unit until they can figure out what’s wrong with yours. This will lessen the impact on your daily operations. You don’t need to stop everything just because your equipment broke down. If you buy and your unit needs to be serviced at the repair office then you have no replacement unit to work with.

Buying leaves you with no other option. Renting is flexible when it comes to payments, upgrades and downgrades and adding more technology to meet your company requirements. You get the freedom to expand or grow your company at your own pace.

When you buy a copier, you are stuck with it until such time it breaks down or you decide to replace it with a new model. When that happens, you need to find a buyer so that you can at least recoup some of your expenses on the machine.

Improved Cash Flow

With renting you don’t need to lay out a huge amount of money in one go. There is no deposit required so there is no significant cash outlay from your budget. Your cost is divided into small amounts throughout your contract. You can then use your cash more effectively by investing it in other areas of your business. You can grow your company and still get the equipment that you need.

Budgeting

Having the expenses associated with your unit amortised over a period of time allows you to effectively budget your money. You know exactly how much you need to pay monthly and how much money is available. You can then work around this budget. Remember that efficient budgeting leads to a better bottom line.

When you purchase, a bulk of your cash goes to that single unit and you may need to hold your other plans such as investing or expanding your organization until you earn back the money you spent. If it’s a big amount, you may need to wait (and work harder) for a longer period of time.

Credit Line Preservation

When you buy a high ticket item, you usually take out a loan, use your credit card or withdraw a significant amount from your savings. Renting preserves your available credit from your bank so that you can use it for other important things such as additional working capital or expansion.

You can have access to the latest technology when you rent as you can easily upgrade (or downgrade) whenever you need to.

If you only need the machine for a particular length of time, you can end your contract and give it back to the supplier. There’s no need to find a buyer to recoup some of your expenses.

Total Cost of Ownership 

It is estimated that it will take you 4 years to break even on your costs when you buy a copier. Renting reduces your total cost of ownership. There are so many factors involved in the computation of total cost of ownership and even the smallest expenses (like supplies) should be taken into account. If you are considering purchasing a new equipment, you need to plan for expenses and compare your budget plan against your renting plan.

Cost

A mid-level black and white photocopier costs around £25 per month to rent. That already includes ink and maintenance services. On the other hand, the same model would cost around £800 to purchase. You still have to pay for the service and maintenance agreement plus other running costs associated with it. It is estimated that you will break even on the purchase cost alone in around 2 ½ years. If you include the cost of ink and repairs, that will take you to around 4 years.

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