Leasing a photocopier entails paying a fixed or variable monthly fee for your office photocopier rather than purchasing it outright.
This is done on a contractual basis for a period of between 1 and 5 years.
Why lease a photocopier?
Leasing does away with the need for a large lump sum with which to purchase your copier outright. Paying for a photocopier in this way therefore frees up capital for investing in other, business critical things like stock or staff.
Other benefits of leasing include:
- Maintenance is often included in the contract;
- Toner refills can be rolled into the contract;
- At the end of the contract you can either sign a new lease or upgrade to a new copier without having to sell or dispose of an old one first.
Photocopier leasing contracts
Recent publicity has thrown light on some previously shady practices in the photocopier leasing world.
Unscrupulous operators sometimes take advantage of small businesses, schools or charities by lumbering them with expensive lease contracts which bring no additional benefit.
Ways of doing this are:
- Charging a ‘cost per copy’ price which vastly over estimates the company’s photocopier usage;
- ‘Roll over’ contracts which automatically sign you up to a new lease when your old one expires;
- Contracts which last longer than the lifetime of the photocopier (e.g. a five year contract for a machine which lasts 3 years on average);
- Refinancing deals i.e. borrowing money against existing equipment and paying the resultant interest when it’s unnecessary.
Be on the lookout for these types of practices when considering lease deals. This will help you find a contract that offers value over the long term.
Photocopier leasing drawbacks
A lease contract effectively involves borrowing the money to pay for the photocopier over the term of the contract. You’ll therefore end up paying more money over the full term than if you bought the copier outright.
This needs to be weighed against the benefits.
Some companies and organisations (like public sector bodies) will have financial policies in place which prohibit these kinds of deals so check with your CFO before signing on the dotted line.
Compare lease quotes
On the whole, photocopier leasing provides an affordable way to purchase a copier without the need for several thousand pounds up front.
Many companies also provide excellent service and maintenance agreements which greatly improve photocopier performance and reliability.
Compare quotes for photocopier leasing from up to 4 top UK suppliers by filling out the form above.