If you haven’t leased a copier before, you may be wondering what a copier lease is, and how it could be a benefit to your Virginia Beach company.
First, let’s start out with what it isn’t:
A copier lease is not a required way to get a copier to be able to get the service and support you want. We have clients who say they want to get a lease so that they can get the service and support they want. However, you can get the same service and support plans if you purchase the copier outright.
So, what is a copier lease?
At the basic level, a copier lease is simply a way to finance getting an asset into your company by making specific monthly payments. It is, as you might guess, similar to an automobile lease. You get the use of the copier without having to put all the money up front.
What this means, in the most basic terms, you are financing a copier over 5 years and the bank (leasing company), makes their money by charging a low interest rate and then makes some more at the end of the lease when they can sell the asset to another company.
The typical interest rate we have seen is roughly 10%, so if you have better ways to finance you may want to check into that. However, many still will use the leasing to help their tax situation because this cost can generally be counted as an expense, and with some tax laws and areas, the full amount can be deducted in year 1. Please check with your accountant for specific and applicable tax laws as we are not accountants.
If you are looking to buy or lease a copier in Virginia Beach, we would love to help out. Feel free to give us a call!