A Simple Guide to Leasing Office Equipment
Are you looking to lease office equipment? Have you questioned whether to buy or lease? In an ever evolving, unpredictable world of modern technology, buying and owning office equipment yields more risk, and less flexibility, convenience, and long-term cost savings than ever before. Leasing, however, offers convenient, flexible, and scalable buying plans, a popular choice among mindful consumers. In this smart guide to leasing, our industry experts share 3 important rules.
Rule #1 Find a trusted advisor to do the heavy lifting.
Who you choose to do business with matters the most. The relationship you establish with a trusted advisor and supplier can last 3, 5, or up to 20 years or more. This partnership will have the biggest impact on your overall experience. Be sure to find a reputable supplier and a dependable brand with products that align and support your business values, goals, and technology. Let their expertise be your beacon.
Trusted Advisors can:
- Orchestrate, negotiate, manage, and upgrade leases on your behalf. It’s in the supplier’s best interest to find you the best lender with the best interest rates, finance programs and customer service.
- Optimize technology offerings so you get the most out of your equipment.
- Help coordinate; delivery, set up, networking, training, moves, upgrades, technical support, lease renewals, terminations, and business reviews.
Rule #2 Do the Research – Identify goals, check references and get quotes.
Understand what you need and get what you want. Shop with confidence. Don’t fall prey to pirates, they plunder, if it sounds too good to be true, leave it. Unfortunately, there are no shortcuts when it comes to procuring office equipment.
Do the Research:
- Get 3 quotes from reputable suppliers.
- Check references and reviews from companies with projects similar in size and scope.
- Ask end-users for feedback and consider factors including price, features, reliability, security, ease of use, compatibility, and compliance.
Shop with confidence - Understand what you need and get what you want.
- Evaluate current and future workflows
- Identify technology needs and goals
- Find consolidation opportunities and redirect prints for cost savings
Rule # 3 Spend wisely – Don’t overcommit and don’t overpay for service.
Time is money, it’s the cost of doing business. Leasing can be more expensive than purchasing equipment outright, but buying isn’t as flexible. Both options come with a tax incentive, as well as pros and cons to consider. It’s likely you will need to purchase a service agreement to protect your investment either way. Who else is going to perform preventative maintenance and fix that occasional squeak or streak?
- Understand the structure and terms of your lease agreement. A lease is a binding contract and cannot be cancelled for any reason, pay attention to the details.
- Understand the terms of your maintenance agreement, performance guarantees and how you will be billed – is the service payment bundled in with your lease payment?
Unless you are mechanically inclined and plan to transform your outdated copier into a robot, consider a lease and remember:
- Find a Trusted Advisor: Lean on their expertise to guide and manage the process
- Shop with Confidence: Understand what you need, and get what you want
- Purchase a Maintenance Agreement: Protect your investment
- Tax Benefit: Lease payments are tax deductible! (annual limits may apply)
If you are ready to step into a smart lease connect with a local adviser from Sharp, a global brand you can trust. We are here to help!