Photocopier rental and leasing: what are the benefits?
Renting or leasing a photocopier for your business has many advantages, including cost savings
A photocopier is an integral part of any office or working environment. However, when it comes to finding the best photocopier for your business, you don’t necessarily have to invest in your own machine – there’s also the option to lease or rent a photocopier.
Although they differ slightly in their terms and costs, lease and rental agreements essentially allow you to pay monthly to hire a photocopier.
This guide will provide an overview of:
- What is the difference between renting and leasing a photocopier?
- Photocopier rental – what do you need to know?
- What are the best photocopier machines to rent?
- Which photocopier is right for your business to lease?
- What are the benefits of a photocopier lease?
- What are the best photocopier machines to lease?
- Photocopier machine rental and lease: what are the benefits?
Read on to learn about the differences between renting and leasing, as well as which photocopier is best for your business.
If you’re ready to compare quotes now, you can complete the form at the top of the page.
What is the difference between renting and leasing a photocopier?
On the one hand, if you lease a photocopier, you’ll sign a lease agreement in which you’ll agree to pay a set monthly fee for a specific period of time, usually one to five years. It’s important to note that, if you choose to end the lease before the agreed date, you may be charged a significant fee – remember it’s a legal agreement.
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- Sign a lease agreement – agree to pay a set monthly fee for a specific period of time
- Agreement usually last for one to five years
- Significant fees may be incurred if choose to end lease before agreed date
- It’s a legal agreement
Renting a photocopier works in a similar way, only rental agreements tend to be more flexible due to the timeframes involved. Rentals tend to be short-term and on a month-by-month basis. They can usually be cancelled as long as the agreed amount of notice is provided. This gives businesses the freedom to upgrade their photocopier whenever they want or need to.
- Flexible timeframes
- Short-term, monthly agreements
- Most can be cancelled if agreed notice period is given
- Easier to change or upgrade equipment
Photocopier rental – what do you need to know?
Renting a photocopier is a flexible, affordable way to access the equipment you need on terms that work for your business. With no set timeframe – and usually a monthly rolling contract – renting gives you the freedom to upgrade, downgrade, or return your equipment whenever you want, normally with just 30 days’ notice.
A rental agreement will tend to cover service, plus parts and supplies. Depending on your specific contract, toner replacements might also be covered.
A whole host of benefits, particularly for small businesses, are available by renting a photocopier rather than buying one. For example, you can use your often limited funds or assets to invest in other areas of your business, whilst still having access to the equipment you need.
Here are just some of the benefits of looking for a photocopier to rent rather than buy:
- No initial investment – Buying a photocopier outright can be expensive and not all businesses have the funds available to make the investment. Renting removes the need for a substantial initial outlay
- Cash flow – Cash flow is absolutely key in any business and renting rather than buying assets such as photocopiers helps to improve cash flow. It keeps money in your business rather than paying out a large sum in one go
- Tax – Renting a photocopier can help to reduce your tax bill. As rental fees can be deducted as a regular business cost, they are more beneficial than capital allowances (a claim you can make when you buy assets that are kept for use in your business. Note that for sole traders or partners with an income of, or less than, £150,000 a year, a different system may apply) when it comes to tax. If you buy a photocopier outright, you can claim up to 40% of the purchase price against tax in one year, and 25% of the outstanding balance after that. When you rent, you can claim everything you pay on a monthly, quarterly, or annual basis
- Flexibility – Renting a photocopier is extremely flexible. If you only need the photocopier for a set period of time or find you need to make cost savings, you can end the contact and return it, rather than having to find a buyer
- Risk – With no locked-in contracts or lump sum payments, there is no risk to your business and none of your money is tied up in equipment
- Stay up to date – Photocopiers depreciate in value very quickly due to fast-paced developments in technology. Renting a photocopier will allow you to take advantage of technological developments at a time and cost that suits you, rather than having to pay to upgrade to a whole new model
How much will it cost?
The cost of renting a photocopier will vary depending on a number of factors including the features you need from your machine. The majority of rental contracts are priced on the volume of copying required rather than the length of time you’re hiring the equipment for.
|Low||Low volume rental contracts cover between 700 – 5000 copies per month||For black and white low volume copying, you can expect to pay around £20 – £30 per month
Low volume colour copying, the prices are usually around £30 – £40 per month
|Medium||Medium volume copying is based on around 10,000 – 40,000 copies per month||Based on black and white medium volume copying, you can generally expect to pay £40 – £70 per month
Medium volume colour photocopying is usually priced between £60 – £100 per month
|High||High volume rental contracts usually cover over 40,000 copies per month||For a high volume, black and white rental contract, you will pay between £100 – £200 per month
For high volume colour copying, prices typically range from £150 – £300 per month
What are the best photocopier machines to rent?
There is a wide range of photocopiers available to rent and the best one for your business will depend upon a variety of factors, including the functionality and volume of copying you require, as well as your budget.
Here are three of the best photocopier rental machines available:
This entry-level, multi-functional photocopier is ideal for small office environments. Thanks to its compact dimensions, this machine takes up limited space, making it great for smaller working environments.
In terms of printing rates, this copier offers speeds of 18 pages per minute (ppm) for both black and white and colour printing. It can also print double-sided documents.
This copier can also be set up as a USB, network, or wireless device and can connect directly to the internet, allowing you to scan to online storage servers such as Dropbox, OneNote, and Facebook.
- Print, scan and copy
- Print directly from a mobile device
- Colour touchscreen
Canon imageRUNNER 2520
The Canon imageRUNNER 2520 is a multi-functional photocopier that’s great for small and medium sized workplaces looking for cost-effective black and white and colour photocopying.
This photocopier offers a touch-screen display, energy efficiency, and the option for an inner finisher. Finishers are devices that can change how the papers are printed – common examples include: stapling, hole-punching or folding documents.
Printing rates are up to 20 ppm for both colour as well as black and white copying.
- Copy, print and scan
- Option to send and fax
- uniFLOW software to track costs
- Enhanced security features – pin or card security; automatic deletion after printing
Konica bizhub 284e
Perfect for medium and large sized businesses with growing workloads, the Konica bizhub 284e offers high-speed printing and copying in high resolution black and white at up to 160 original documents per minute.
This machine is also easy to use, with a touchscreen control panel, powerful security enhancements, and a wide range of finishing options to meet your business needs.
- Print, copy, scan, fax
- Environmentally-friendly features – eco timer, meter and functions
Which photocopier is right for your business to lease?
The terms leasing and renting are often interchanged freely. However, it’s important to note that there are a number of key differences when it comes to leasing or renting a photocopier.
- On a lease contract, you’ll pay a fixed monthly fee to hire a photocopier over an agreed amount of time
- Lease agreements generally run from between 3 to 5 years
- During the lease agreement, you’ll also usually pay for a service contract that covers all regular servicing, call-out repair, and toner replacements
What happens when the lease ends?
Once the lease agreement comes to an end, you’ll usually have a number of options:
- Purchase the machine
- Return it to the supplier
- Sign a new lease for the same copier
- Upgrade to a newer machine
What are the benefits of a photocopier lease?
There are a number of benefits associated with leasing a photocopier:
Maintenance included – Photocopier repair and maintenance is usually included in the lease agreement, and many contracts also offer the option of including toner refills
End of contract flexibility – Once you reach the end of your lease agreement, you’ll have the option to end, renew, or upgrade your lease, or buy the photocopier
Easy financing – Because the financing options for lease agreements are usually provided by the photocopier supplier themselves or their chosen third-party finance company, lease agreements are usually much easier and faster to secure than a bank loan
Budgeting – As with renting a photocopier, leasing allows you to budget and manage your cash flow easily due to no initial investment of funds, agreed monthly payments, and tax efficiencies
How much will it cost?
The cost of leasing a photocopier will vary depending on a range of factors.
Just like rental contracts, photocopier lease costs are typically based on copying volumes, with low, medium, and high volume contracts available.
What are the best photocopier machines to lease?
There are a number of different copiers available to lease. Choosing the best one for your business will depend upon many factors, including: the functionality and volume of copying you require, as well as your monthly budget and the length of lease agreement you require.
Here are three of the best photocopier lease machines available:
Epson WorkForce WF-2630WF
The Epson WorkForce WF-2630WF is a compact, multi-functional photocopier that offers an affordable choice for small businesses looking for wireless printing and Wi-Fi connectivity.
Offering 1200 dots per inch (dpi) scanning, copying, and faxing, this photocopier can print up to 34 ppm in black and white and 18 ppm in colour.
The copier also provides wireless, Wi-Fi, USB, and scan-to-cloud capabilities.
- Individual ink replacement – replace only colours that are needed
- Automatic 30 page document feeder
- LCD screen navigation
Ricoh MP C2004exASP
The Ricoh MP C2004exASP is ideal for large workgroups and teams, providing high resolution colour print output on paper up to size A3.
This machine can copy and print up to 20 ppm.
There are also a range of finishing options available for your business needs, including a Single Pass Document Feeder (SPDF).
- Print, copy, scan and fax
- Wakes from sleep mode in 0.5 seconds
- Suitable for growing businesses with high-output requirements
Xerox WorkCentre 6025
The Xerox WorkCentre 6025 offers printing, copying, and scanning up to 12 ppm in black and white and 10 ppm in colour.
Featuring high-speed USB and Wi-Fi connectivity, 100 sheet output tray, and more, this copier is ideal for use in a whole host of different working environments.
This is an excellent option for any small business in need of an efficient, quality photocopier.
- Copy, email, print and scan
- First page out in as quick as 19 seconds
- Mobile printing functions available
- Ideal for freelancers or small teams
Photocopier machine lease and rental: what are the benefits?
Whatever the size and nature of your business, when it comes to investing in a photocopier, renting and leasing both offer a range of benefits.
Although leasing and renting differ slightly (a reminder that leasing offers long-term hire, whereas renting provides a short-term solution), they both allow you to avoid substantial initial expenditure. This keeps that all-important cash flow in your business and lets you invest in assets that will increase in value rather than decrease.
Renting and leasing also both allow businesses to embrace tax benefits. When you buy a photocopier outright, you can usually only deduct the machine’s depreciation value for tax purposes. On the other hand, when you rent or lease, you’ll be able to deduct the entire payment each time it’s made.
Finally, leasing and renting also allow you to stay up to date with the latest technological developments and upgrade your equipment whenever you want or need to, rather than having to save up for the latest model.
- Decide if your business needs short or long term hire – rent or lease
- Consider the tax benefits – can deduct the entire payment each time for tax purposes
- Think about the longer term benefits – easier, quicker and cheaper to stay up to date with the latest technology
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The information on this page should help you to understand what sort of option will be best for your business – for even more tailored details though, you should speak to experts today. Startups can help here.
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