Tuesday Tips: Should You Buy or Lease Your Office Equipment?

Should You Buy or Lease Your Office Equipment?

When it comes to your business’ equipment, you probably wonder if you should rent your equipment or buy it new. While a printer lease and other types of rentals can be beneficial, there are a few things you need to think about before you sign on the dotted line.

Ask These Questions

Before going with a copier lease or any other type of equipment lease, ask yourself these questions:

  • What is your cash flow like? Unless you have a decent amount of cash on-hand or you’re able to secure financing quickly, you might be better off going with that printer lease instead of buying new.
  • Will you see a return on your investment? Remember that going with a high-quality piece of equipment, including multifunction printers, can help you cut back on other expenses.
  • How long will you use the equipment? If you’re going to use the equipment for a while, purchasing may be the way to go.

Think about these questions carefully and remember that you don’t have to make a final decision about buying or leasing overnight.

One Final Guideline

At the end of the day, any piece of equipment you purchase or lease should serve one primary purpose – to help you grow your business. If the equipment doesn’t do that, you don’t need it in the first place.