hubTGI has several available options for our clients from rentals to purchasing of equipment. If you’d like more information, please contact us.
Is it Better to Lease or Buy a New MFP?
When it comes time to upgrade your office’s MFP, you might think your only option is to purchase a new device to get the latest technology. We have found, however, that one of the most important questions to stop and ask yourself is whether leasing would be better for your needs. It’s important to weigh the pros and cons of both options before deciding.
At the end of the day, there are benefits and downsides to both. Being aware of these is the first step in the decision-making process. Below we’ve taken the liberty of breaking these down for you to help make your choice easier.
Leasing Pros and Cons:
Cost Savings: When your team chooses to lease, you’ll be saving on costs that would have gone towards the initial purchase of a new machine. There are also several lease options that you can select from, which allows you to pick a plan that’s more budget friendly.
Investing in Upgrades: By choosing to lease, you’ll have the option to upgrade your device in the future with trade-in options. This will keep your team up to date with the latest technological advancements and ensure you don’t fall behind on the times.
Value: At the end of your lease, you’ll have gained more value out of your leased equipment than you would have from an owned device.
So What Are the Cons?: Leasing comes with the possible risk of penalty fees should you decide to terminate your contract early. There are also automatic renewals to look out for. It’s important to know what’s included in your contract and when your lease’s end-date is to avoid surprises.
Buying Pros and Cons:
Long-Term Savings: Buying your MFP, while more expensive at the outset, can save you money in the long run. By optimizing your print output and ensuring the device is well-maintained, you can keep an MFP around for a long time, making it an excellent investment.
Value: Devices that you purchase can sometimes be written off for tax purposes. They are also owned by your business, making them a valuable company asset.
So What Are the Cons?: Purchasing a device upfront is not always feasible for companies on a budget. This is especially true for smaller businesses and start-ups. It’s important to sit down and figure out how such a large purchase might affect your overall budget. It can also be more challenging in the future to upgrade your device, meaning your company risks falling behind on things such as new security features, improved functionalities, and better mobile connectivity.
As technology is ever evolving, it’s imperative that you select the right option for your team that will factor in your company’s future needs. Whatever you decide, be sure to make an informed decision and understand what’s included with service agreements. There are lots of unexpected surprises out there on both sides, and as such we recommend that you speak with a professional to help you through the process.
To learn more about all options available to you, speak with a hubTGI professional. We’ll walk you step by step through the process and answer all your questions.