In companies of all shapes and sizes, loyal copiers are part of daily life. They’re part of every workflow, used by every team, and trusted to get all kinds of jobs done–but before you can enjoy those benefits, you have to actually get the copier! Today, we’ll help you do that by explaining some basic tips for reading copier leases.
The Power of Leasing
Leasing your office copiers is a great decision for so many reasons. First and foremost, it gives you freedoms that you don’t get when you buy–like payment options and maintenance agreements. Leasing also allows you to keep a certain make and model for a shorter period of time and then upgrade when the lease is up. Essentially, leasing is a great option for all kinds of businesses because it gives you all the benefits of great copiers without all the commitment of actually buying those copiers.
However, the thing about a lease is that you have to be able to understand the lease agreement so you know what you’re signing up for. Here are a few questions to help you read the fine print!
- What are the buyout options?
If you do want to end up owning your copiers at the end of the lease, it’s important to understand your choices. There’s generally a “fair market value” option (where you pay fair market value for the machine at the end of the lease) or a “$1 buyout” option (where you pay more monthly but pay only $1 at the end of the lease). - What is the term?
It’s crucial to know how many years are on the lease so you can plan and budget accordingly. Remember, shorter terms have higher monthly payments, but allow you to upgrade sooner. - Can you terminate the lease early?
Although you probably don’t plan on backing out of your lease, it’s important to know what your options are should the need arise. Many companies are willing to work with you–but it’s better to know ahead of time!