While attending a networking event, an attorney approached me and asked the question, "How much does a copier cost". He was a little frustrated with my response. I told him "That depends". He came back with, "Do you mean to tell me that you don't have a price sheet that gives you a number?" "What are your attorney fees", I asked. He hesitated for a moment and requested to know more about my situation. He said that he couldn't provide a fee until he learned about my specific needs. Then, the lightbulb went off. He realized that the price of a copier depends on a few factors before an actual cost can be calculated.
How many copiers are you looking for?
Would you prefer color or black/white?
What is your average monthly volume? This number will determine the speed of the copier and how many paper drawers are needed
What is the largest size of paper you will use (Letter 8 1/2 x 11, Legal 8 1/2 x 14, Ledger 11 x 17)?
Do you need finishing options (staple, hole punch, saddle-stitch/booklet maker)?
Does this copier need to send and receive faxed documents?
Are you interested in any ADVANCED SCANNING features that will improve and simplify your workflow?
Do you need to secure the device with swipe-card technology?
Would you like to be able to print wirelessly from your smart phone or tablet?
Depending on how you answer the questions above, your monthly payment could range anywhere from $99 to over $500 per month or more.
A Note on Lease Terms
The term of your lease will determine the leasing agents lease rate. A longer lease term will result in a lower monthly payment, however the fees as well as the interest related with those leases go up (compensating for the depreciation of the item and the decreased amount of capital being paid down). Typically shorter lease terms have higher payments, but include less fees and interest.
Generally, the leasing company owns the copier and a fair market value will need to be obtained at the end of the lease term. You have the choice of either sending the copier back to the leasing company or purchasing it at the established buyout value. If you choose to upgrade, the buyout value can easily be incorporated into the new copier lease without you having to write a check.
Service Agreement | Do I Need One?
Whether included in your lease agreement or billed with a separate invoice, a service agreement is a necessary additional cost that you have to consider. In most cases, service agreements include everything with the exception of paper and staples. More often than not, all toner, service calls, labor and parts are included in your agreement.
A service agreement is your piece-of-mind that your copier will be a productive part of your workflow. The technicians that work on your copier are trained to repair any device malfunction. That includes everything from poor copy quality and simple paper jams to repairing fusers and routine preventative maintenance visits.
Service fees are determined by calculating a low cost-per-copy (often referred to as per-click) with your actual or estimated monthly volume. For example, a company that copies/prints 3,500 black/white pages and 1,000 color pages may spend $94.50 per month on the service agreement ($0.07 per click x 1,000 color prints plus $0.007 per click x 3,500 b/w prints = $94.50). Consider the consequences if you choose to opt-out of a service agreement. You would be billed per hour with each service call in addition to the cost of toner. Many companies charge at least $150 for the first hour plus parts and labor. Then, the cost is broken down in 15-minute increments. What about toner? I found a price online of $229.99 for each color toner cartridge to replace the ones in our office copier. With the exception of black, I would have to spend a total of $689.97 for cyan, magenta and yellow toner. So as you can see, having a service agreement included with your copier lease makes perfect business sense.
I hope this helps to answer the question “how much does a copier cost”. Once you know the answers to the questions above, a monthly lease or purchase price can be provided.
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