Obtaining a wide format printer for your business is a significant investment, no matter how you go about acquiring a new device. Leasing is becoming a common approach to acquiring new technology, but many business owners still struggle with the choice between buying and leasing a new wide format printer. So the question is, which approach suits your company better?
What are the Pros of Buying?
It might seem that your best option is to simply purchase a new wide format printer. By purchasing you get total ownership over the new device, have the potential for a greater return on investment and can worry less about constantly changing the devices in your office.
If your company produces a low volume of high quality images, buying wide format printers makes it easier to provide a stable print environment within your office. If you don't face regular turnover in compatible software programs and systems, your employees can gain a high level of familiarity with devices.
What are the Cons of Buying?
The first con that most business owners and IT professionals focus on is cost. If your company doesn't have the cash reserves and isn't interested in financing the purchase of a new device, buying isn’t your best prospect. However, cost isn't the only con (or even most important) to keep in mind.
With technology evolving so quickly, it is important to consider the management and upkeep involved with a purchased device. Internally you will have to manage software upgrades, operating system changes and the impact those have on the performance of your device. And eventually, changing print technologies will require you to upgrade your wide format printer.
It is also possible that your business could outgrow the print quality and output of your purchased device. If your company grows quickly, requiring higher print volumes and/or higher quality images, your old device might not be able to keep up. So when making a decision, make sure you consider current and future print demand for your wide format printer.
What are the Pros of Leasing?
Leasing wide format printers offers financial stability. For starters, there is no upfront capital investment required. You sign a contract with your managed print dealer and pay a set amount each month to lease the device.
When your lease term is up, you have two options: purchase the wide format printer at a discounted price or upgrade to the latest technology without additional significant capital investment. This is the more common option. Simply resign a new contract and keep enjoying the latest in wide format printing.
What are the Cons of Leasing?
The cons of leasing are largely operational within your office. If you are replacing devices every three to five years on a managed print contract, your employees will have to become accustomed to routine training to familiarize themselves with new devices and technologies. This poses temporary dips in production efficiency and office productivity, but isn't likely to significantly hamper overall print volume and production.
How Should You Decide: Buying vs Leasing?
Managed print providers and dealers such as Marco consider leasing wide format printers as a positive investment. The money your company invests each month helps keep you up to date on the latest print technology, provides flexibility in your print environment as your company grows and allows for outdated equipment to be replaced as it ages.
The decision to buy or lease ultimately comes down to the internal operations of your business. If your company has the financial ability and stable productivity levels that suit buying, then that may be in the best interest of your business. Conversely, if you want to protect your cash reserves and envision rapid growth in the coming years, leasing provides you the flexibility to still have the latest in technology.