How Much Does It Cost to Lease a Plotter Printer?
Plotter printers play an integral role in several industries, including construction, architecture, and civil engineering. While many companies opt to purchase a plotter printer, others choose to lease this essential hardware. Both approaches come with their own set of benefits and drawbacks. The question is, how do you decide which is the best choice for your business? How much does it cost to lease a plotter?
In this article, we'll examine the benefits of leasing versus purchasing a plotter printer for your business.
Buying or Leasing a Plotter Printer
What Are Your Business’s Needs and Budget?
The first consideration is the frequency of use and the types of projects your business typically prints. Many people ask, “How much does it cost to lease a plotter?,” but it’s better to know your budget before you go shopping. If you only need to print occasional large-format projects, then leasing might be the best option. Leasing also allows smaller companies with limited budgets to afford a plotter printer.
But while the monthly payments may make leasing a plotter printer more attractive than a large lump sum, buying the printer outright may offer more advantages.
Though there is a substantial upfront cost for purchasing a printer, repairs are covered by the manufacturer's warranty. There may also be an option to extend this warranty for additional protection. Since service is done by the printer's manufacturer, it's more reliable and easier to obtain. This means there won't be concerns about unexpected repair bills and the possibility of prolonged printer downtime. In many cases, the manufacturer may ship a new printer to replace the defective one.
Purchasing the printer also allows you to choose the model and brand that best suits your needs. An added plus is that you aren't locked into a multi-year contract with a printer that can quickly become obsolete.
Consider the Behind-the-Scenes Finances
Another advantage to owning the printer is that it becomes an immediate, tax-deductible asset in your business. From an accounting perspective, the purchased printer can be depreciated over time. You'll also be able to liquidate or sell it if there is ever the need for a quick cash flow injection.
Printer lease terms are typically 36, 48, or 60 months. During that time, the business has use of the printer with that long-term commitment. At the end of the lease period, the business must either return the plotter printer or purchase it for its fair market value.
Buying the printer at the end of a lease, even at fair market value, may not be the best investment. This is because the printer will greatly depreciate in value and have signs of wear and tear from everyday use during the lease period.
What About Managed Services?
Another available option is using a managed print services provider. As in the case of managed IT services overseeing the company's data network, a managed printer provider oversees the printing functions in your business.
Typically, a managed print services provider works with a business to assess its print needs and make recommendations. The provider helps to implement new hardware and software solutions as needed. They monitor the print environment on an ongoing basis and make recommendations for future improvements.
There are challenges to using a managed print provider. One issue is since the printer is in a central location, sensitive documents may fall into the wrong hands. Another is that the cost of the service is out of reach for most small businesses.
How Much Does It Cost to Lease a Plotter?
Leasing a large format printer, such as a plotter, depends on several factors. These include the lease duration and terms, as well as the plotter's technical specifications and features.
The term is a major part of the plotter lease cost. A shorter lease will generally be more expensive per month than longer terms. This is so the leasing company recoups the cost of the printer in the reduced time frame. Shorter leases may also have higher early termination fees. As a result, it's usually more expensive to lease a printer for a shorter period of time.
The printer lease cost also depends on the plotter's technical specifications and features. For example, plotters that handle a greater variety of media formats and have advanced features such as additional memory, faster printing speed, and multifunction capabilities will carry a higher monthly lease price tag.
How Much Does It Cost to Lease a Plotter?: A Closer Look at the Numbers
To compare the cost of leasing to buying, consider the following scenario.
If you were to buy the HP DesignJet T650 in today’s marketplace, you would incur a one-time cost of ₹159169. However, with a 48-month equipment lease, the same printer would cost at least ₹168389.28.
While this difference may not seem like much, keep in mind that a lease carries usage restrictions. Going over these restrictions will result in added charges. There may also be additional fees for maintenance and support. You're also locked into a lease contract for at least two years with no option to upgrade your equipment.
Calculating your printing costs can help you decide whether leasing or purchasing the plotter is the best choice. If your business typically prints high-volume jobs and utilises the printer for office copier functions, you may require a costlier lease with a higher monthly volume allowance. The frequency of ink cartridge replacement and the type of stock needed also affect your costs.
Final Thoughts on How Much Does It Cost to Lease a Plotter Printer
As you can see, there are many factors to consider when deciding to lease or buy plotter printers. Additionally, having the printing function managed by a service provider offers businesses yet another option.
However, taking the discussed factors into consideration, purchasing a plotter printer clearly offers several advantages over leasing. This is most evident in the total cost of the printer, as leasing it over time costs more in the long run.
Carefully weighing the pros and cons of each approach is the best way to determine which will work better for your business. Our team can assist you in selecting the right equipment for your company's printing needs. Contact us today to learn more about our innovative printing solutions.
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