As the digital revolution really kicked off in the 2000s, bold predictions were made about the advent of the “paperless office.” The use of paper in the office would become completely redundant, and documents would be handled digitally only – or so the theory went. While it’s certainly true that the internet and cloud have transformed the way most businesses operate, paper remains as widely used as ever. In fact, it’s estimated that the average employee uses over 10,000 sheets of paper per year. That means the humble office printer remains one of the cornerstones of the vast majority of businesses and offices.
Evolution of the Office Printer
Of course, over the years the office printer has evolved tremendously.
Early models were bulky, clunky, error-prone, and a large investment. Today, there are thousands of models to choose from, ranging from compact machines that can fit on the corner of a desk to specialized wide-format printers that can print posters, banners, and even billboards. There are machines designed to produce hundreds of thousands of black and white pages a month, and others that can print color documents and photos at the highest possible resolution.
Purchase Options
But in addition to the many varieties to choose from, you also have much more flexibility in the methods available to acquire one today. Let’s take a look at the different options.
Buying a New Printer
The traditional way of obtaining a new office printer is to outright purchase it.
Depending on the model and functionality of the machine, an office printer can cost from a few hundred dollars to tens of thousands. The optimal machine for you will, of course, depend on your specific needs and budget.
Do you just need a basic multifunction office printer? Or do you need to print high volumes, in very high quality, or on unorthodox materials like card stock, fabrics, or coated plastic? Your printing needs will dictate the type of printer you acquire.
The Pros and Cons of Buying a New Office Printer
There are many advantages to buying a brand-new office printer lock, stock, and barrel, including:
- Ownership – You bought it, so you own it. The office printer becomes an asset on your balance sheet.
- Tax-deductible – A new office printer is usually tax-deductible as a bona-fide business expense. Plus, you can write down the depreciation of the value of the asset over time.
- Resale value – You may be able to sell the machine when you upgrade to a new office printer.
The downsides of buying a new office printer mostly come down to the costs – both upfront and ongoing.
Office Printer Costs
Whatever the make, size, and functionality of the machine, every office printer will continue to incur costs throughout its lifetime.
It will constantly need ink or toner and paper, which represents an ongoing expense. It will need regular cleaning, maintenance, and software updates. And like any machine that has any number of intricate, movable parts inside, an office printer is prone to jam, break down, or malfunction – often at the most inconvenient of times.
These costs of ongoing replenishment of supplies, maintenance, and repairs can end up being over and above the initial purchase price. If you only need a basic multifunction office printer, or you have the budget for a higher-end machine, then buying an office printer makes lots of sense. But if you don’t have the budget for the type of machine you need, you still have the option of buying a second-hand machine, leasing a machine, or renting one.
Buying a Used or Refurbished Printer
Buying a refurbished printer will generally be substantially cheaper than buying a new machine. This can be an excellent option if you’re looking for a high-end or specialized printers, especially if the printer is not too old, hasn’t been used too much, and the seller is trustworthy.
However, a refurbished office printer does come with a higher risk of the machine breaking down, a likelihood which will only increase as the machine ages. As a result, the costs of maintaining the machine over time may negate the benefits of the lower upfront cost. On the flip side, as with purchasing a new office printer, you will have full ownership of a tax-deductible business asset.
But did you know that you don’t necessarily have to buy a printer at all? You can lease or rent one instead.
Leasing
Leasing an office printer gives you all the benefits of the use of the machine but without the upfront costs. It’s an excellent choice if you need a specific type of office printer that’s beyond your budget, or when you’re not going to need the machine for an indefinite period.
Although there may be an upfront payment required, it’s going to be much cheaper than buying a machine outright. Instead of paying the full price upfront, you’ll pay monthly installments for the duration of the leasing term, which is generally three to five years.
Over the full term of the lease, you’ll probably end up paying as much in leasing fees as if you’d bought the machine if not more. But for many businesses, the consistent, predictable monthly installments of a lease are much more affordable and remove uncertainty from monthly budgeting calculations. The downside is that you don’t own the asset – it remains the property of the lessor throughout the lease period.
Maintenance Agreements
At the end of the lease term, you may have the option to buy the machine from the dealer. You may also have the option to upgrade your machine during the lease term. Most importantly, most lease agreements are bundled with a maintenance agreement, whereby the supplier will maintain your supplies, provide regular maintenance for the machine, and take care of any necessary repairs.
You may also be able to sign up for a maintenance agreement when you buy a new or refurbished printer. But you may not get as agreeable or cost-effective terms as when bundling a lease and maintenance agreement together in this arrangement.
Renting
Renting an office printer is similar to leasing a machine, with three main differences:
- No ownership – It is rare that a rental agreement will include the option to buy at the end of the term.
- Shorter term – A rental agreement is generally much shorter than a lease – from as little as a month up to a year.
- More expensive – Renting is typically more expensive than leasing.
These factors make renting the ideal option if you only need an office printer for a limited period.
A Reliable Office Printer Partner
The best way to unpack the different options available to you when acquiring a new office printer is to consult with a qualified, experienced, trustworthy supplier to assess your needs and the best way to meet them. If you’re in the New York, Totowa, Cherry Hill, Edison, or Ft. Washington areas, speak to Docutrend. We’ll conduct a free, no-obligation assessment of your business, make recommendations, and work out a customized plan that’s perfect for you. Contact us today.