Year after year, copier/printers get released with new and better performing technology and features. You may have a machine that’s working fine, but newer models can be enticing.
The good news is, if you want (or need) an upgrade, you can trade-in your current machine anytime. You may even get a trade-in bonus or discount for doing so.
Trading in a leased copier/printer is a chance to upgrade to the latest technology and features. These models will provide you with more tools to help increase productivity than your current machine.
Switching to an upgraded machine might be a smart decision for your specific business needs. Below are four ways trading in can end up saving you money and increase office productivity.
Why trade-in your current model?
When the copier experiences more and more service calls or produces poor quality prints, it’s obvious it’s time to trade in for a different machine.
What about when the copier/printer is working fine? Are there times when you would still want to trade-in for a new machine?
Below are the top five reasons trading in is more beneficial than hanging on to older models.
1. Security risk
Ignoring the firmware updates could lead to problems with the machines. As soon as you get a new copier/printer, make updating the firmware a priority so documents and data can always be secure.
Additionally, as new models are released each year, older models stop receiving updates. The vendor will notify the client that the model is being phased out. However, when bought from a retail giant like Wal-Mart or Office Depot, there is no way to know the model is being phased out.
Machines without current firmware updates will put your documents and data at risk.
Security risks are the top reason for trading-in current machines. Call a service tech if one (or more) machines have not recently requested a firmware update.
2. New technology
New models have productivity apps and features that better serve employees. Apps are an important part of everyday work environments, allowing your employees to work faster and more efficiently. Additionally, newer models are often faster. The increase in productivity and time saved is well worth the upgrade.
Vendors usually have deals throughout the year that can get you an upgraded, faster, and more technologically advanced machine at a discount. These promotions will save you money and provide better office technology for employees.
For example, STP Texas once offered a brand-new multifunction printer at the same price as the older version. A faster and more advanced machine for the same price, not to mention, a new unit means fewer maintenance issues.
Check with local copier vendors to see what deals or promotions they offer.
4. Trade-in bonus or discounts
The third reason to trade in current machines is the potential for trade-in bonuses or discounts. Vendors will sometimes offer these discounts for trade-ins. Getting a portion of the investment back for new and better technology is one of the best reasons to upgrade.
5. Save money by reassessing your business needs
A lesser-known reason for a trade-in is reevaluating printing needs. If machines are underutilized, consider trading in for a less expensive model that still provides everything needed for the business.
On the other hand, overutilizing copiers will skyrocket the price per copy. Print costs can add up fast. In this situation, upgrading to a machine that can handle a higher printing volume will cut back on the amount spent on printing each year.
Whether a purchased machine (that still works) or an upgrade to an existing lease, vendors will likely do whatever they can to provide discounts and help save money. Make sure to discuss the options with a sales rep.
Trading in leased vs purchased machines
During the early stage of buying a copier/printer, customers often discuss whether purchasing or leasing is right for their business needs.
Trade-in requirements will vary between purchased and leased machines. Read the details below for a better understanding of how the processes will be different between the two.
When deciding between the two, leasing is usually recommended because it provides more convenience and flexibility than purchasing. Such as affordable monthly payments for better equipment and the ability to upgrade if printing needs change.
Leasing a copier/printer usually comes with a maintenance plan. This provides a service technician that can fix any issue or answer any question that may arise.
Service technicians will replace parts to make sure you always have a machine that’s properly working. A lease guarantees you’ll always have a properly working copier/printer.
Leasing takes away several burdens that come with purchasing copiers, and there’s always the option of upgrading to a model with the latest and greatest features and technology.
With purchased copiers/printers, the option to add a maintenance plan is available and recommended. If the printer was purchased from a vendor and not a retail giant like Office Depot or Amazon, technicians will be accessible to help with service-related issues or questions.
However, as the years go on, the machine will need more service. Additionally, the older it gets, the harder it will be to find parts for that model. These two factors are why the maintenance plan cost goes up a little each year until you trade-in or the machine dies.
The biggest burden of purchasing is once the machine dies, you are stuck with it. Ask if the place you purchased from will take it back, occasionally something can be arranged, but don’t bet on this.
Instead of running purchased machines into the ground, opt to trade it in before it dies. This will ensure a new and working machine, and likely a trade-in bonus. Consider asking about the option to switch to a lease as well.
If you purchased a machine from a retail giant like Walmart or Amazon, get in contact with a local copier vendor ASAP. They might be able to offer a trade-in bonus for retail purchased machines, or at least find a model that is better suited for the business environment.
Now that you understand the benefits of trading in, and the different options available for leased or purchased machines, let’s explain the factors that could influence trade-in value and any deals/discounts that could be available.
Terms and conditions
This may seem obvious, but it’s important to mention, to be accurately prepared to discuss trading-in machines with a vendor of choice.
Every copier vendor has different rules regarding trade-ins and promotions. The terms and conditions are up to the vendor's discretion and should be addressed before making the final decision.
Once you decide to discuss trading with a sales rep, understand that every customer and machine are different too. There will be factors that influence each trade agreement differently.
Some of these factors include:
Make and model of current machine
The age of the current machine
Are you an existing or new customer?
The trade-in value depends on the factors above, but your sales rep is going to do everything in their power to get you the best copier/printer for your business needs.
Keep an eye on local vendor deals and promotions. If you purchased your machine, trading it in would be a smart business decision to prevent you from being stuck with a dead machine that’s hard to get rid of. If you leased, upgrading to the newest technology comes with tools that could save your office and employees time while increasing productivity.