Lease a Printer
Lease a Printer
Looking at leasing, renting or buying a printer for your office? There are many things to consider before making the decision. For many businesses, purchasing a printer outright is a massive expense, with prices ranging from a few hundred pounds, up to tens of thousands of pounds.
Purchasing is the least cost-effective way to fund your new printer, with leasing being the preferable option for many businesses. When you lease your new printer from Midshire and other established Managed Print Service companies, you not only avoid the up-front costs associated with purchasing the device, you avoid the additional ad-hoc costs related to machine breakdowns. Midshire will link your leasing with a Managed Print Service contract which covers: installation and training, general maintenance, the ordering of toner and ink cartridges, the booking of engineers and the provision of meter readings.
What does office printer leasing entail?
A printer lease spreads the cost of your device over 3 to 5 years. You will pay fixed equal amounts, either quarterly or monthly over the fixed term, instead of making the large full payment at the point of receiving the equipment. Leasing printers is beneficial to all types of business, irrespective of size and turnover. Midshire works with a huge variety of businesses throughout the UK, from start-ups to multi-national corporations, who all take advantage of the leasing model.
The price associated with leasing a printer depends on a number of factors including: type of device chosen, features and speed of the machine, finishing equipment required, number of paper trays and whether the device needs to print in black and white or colour. The monthly or quarterly repayments can be adjusted by simply changing the lease term. A 3-year term will have higher repayments than a 5-year lease. But a 3-year lease will be paid off quicker than the 5-year option.
Midshire works with a number of well-known and long established leasing companies and brokers that specialise in printer leasing. These include: Siemens Financial Services, PEAC, Shire Leasing, CF Corporate and Tower Leasing
What type of printer can I lease?
Midshire offers the lease option across our entire range of printers. So whether you are looking for a small desktop printer, a floor-standing multifunction device, a light production printer for your reprographics department, or a wide format printer for producing CAD drawings and graphics, Midshire can arrange a printer lease for your business, no matter what equipment you choose.
Leasing a printer for your business can result in a lower tax bill, as you are able to claim the payments as a business expense. Your monthly payments are 100% tax deductible. In contrast, while purchasing is tax deductible, it is only 40% tax deductible in the first year and 25% in the second. This makes the leasing option a very attractive business proposition for any company looking to upgrade existing, or that requires brand new printing equipment.
Will my company be accepted for an office printer lease?
Most leasing companies require 3 years trading history as a minimum in order to accept a business onto a lease. Midshire understands that there are a large number of companies that have been trading for less than 3 years, which won’t have the capital to pay for a printer outright. In those cases, Midshire may request additional financial information and a directors guarantee to make it more likely that the lease will be approved. However, as every business has individual circumstances, Midshire can never guarantee that a lease will be approved, though we will always do our very best to work with our leasing providers to get them accepted. In the event that a lease is not accepted, Midshire does have alternative finance options open to you, which your account manager can explain should this occur.
Printer leases for schools
The Department for Education rules state, that Local Authority Schools and Academies must use an Schools Operating Lease as opposed to Finance Leases when leasing any printing equipment.
An Operating Lease is ‘off balance sheet’ funding. The finance company carry the risk associated with the lease, while the school benefits from the use of the equipment.
Due to the required structure, these repayments are significantly lower than a finance or capital lease. At the end of the lease term, the lessee can choose to either return the printers or continue with the agreement for a further period.