If you’re new to the world of equipment leasing, this short guide to printer leasing will help you make an informed decision on whether to sign an agreement.
A Short Guide to Printer Leasing
If you’re new to the world of equipment leasing, make sure you know all there is to know about it before you commit to leasing a printer.
To help you make an informed decision, we’ve put together a short guide to printer leasing, covering everything from the benefits it can bring, to the types of agreement that you can enter into.
What sort of businesses does leasing suit?
It doesn’t make sense for all businesses to lease a printer. If you’re only printing several sheets of A4 a day, you can probably get away with a cheap and cheerful printer that costs less than £100.
However, if you’re a business that readily prints, copies and scans documents – or perhaps printing is a big part of your service offering – you’re going to need a machine that’s optimised in terms of quality and print speed. Maybe you need multiple printers?
A reliable three- or four-in-one printer can cost anywhere up to a few thousand pounds, which is a big outlay for most small- and medium-sized businesses. That’s where leasing can come in handy…
What are the benefits of printer leasing?
You can keep your money in the bank:
As we’ve already touched upon, a good printer or photocopier doesn’t come cheap. As a small business, you need to be careful not to use up all of your capital, which could leave you vulnerable during quiet periods. Leasing allows you to keep a bit of a ‘buffer’ in the bank for a rainy day.
Flexible end of term options:
Just because you’re leasing a printer doesn’t mean you have to give it straight back at the end of the agreement. If the printer has been reliable and well used, you might decide you want to keep it and continue your rentals. However, if there’s a newer model available, you might be better off upgrading and starting a new agreement.
More choice:
Because you don’t need to find the cash, leasing a printer increases the choice available to you – you can opt for a higher quality model without it breaking the bank.
What are the different types of leasing agreement?
There’s more than one type of leasing agreement. Here are the main options:
Finance lease:
With a finance lease, the finance company buys the printer you want and rents it to you over an agreed period of time.
Hire purchase:
Hire purchase allows you to spread the cost of your printer over the duration of the lease and then have the option to purchase ownership title at the end of the agreement.
Sale and leaseback:
A sale and leaseback agreement involves you selling an asset – in this case a printer – to the finance company who then lease it back to you over an agreed period of time.
To lease or not to lease?
Only you can make the right decision for your business. However, we’re happy to help in any way we can. If you’d like more information on how leasing could benefit your company, get in touch with Shire Leasing’s finance experts who can help find the right solution for your business goals.
