The next time your business needs printers or copiers you will no doubt have to make a decision that many companies struggle with.

Should you buy it or lease it?

If you don’t know the answer, you are not alone. We get asked this question almost every day by our clients, and the answer isn’t the same for everyone. Before you make that decision let us share a bit of what we have learned over the years.

When we look at our client base, about 80% of the businesses, banks, and medical practices in and around lease their copiers. Just 20 years ago the ratio was more like 50/50.

So, why the significant increase in the number of leases? The main reason is that printer technology changes so fast with copier/multifunction devices that it may pay to lease rather than buy.

After all, a copier isn’t a copier anymore. Back in the ’80s, and even the ’90s, copiers just copied. Today, these multifunctional devices can copy, print, scan, and fax, and are an integral part of the document management of a professional office. With so many businesses attempting to go paperless, the copier/multifunction device has become a powerful technology tool.

We know it can seem a bit confusing but to help you figure out which option is best for you, let’s take a look at the pros and cons of both leasing and buying technology equipment, plus the questions you should ask to ensure you get the best deal.