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Reviewing The End Of Lease Terms Of Your Copier

It is exciting to get that new piece of equipment that you need in order to grow your business. You have spent time doing research and found the perfect copier to meet your company’s needs. You negotiated a good lease and you are on your way. But did you read the fine print of the lease? Do you know your end-of-lease options? Can you buy the unit at lease end? Can you extend or renew your lease? Can you trade-up and trade-in? Sometimes the end of your lease can offer some unpleasant surprises, especially if you do not take the time to read the fine print. 

When you read your lease agreement, make sure to look for some terms:

Removal fee

Removal fee is the fee that is charged once the lease ends. You need to check where the copier goes after the lease and check if it is to the destination of the leasing company’s choosing or anywhere. 

Auto-renewal

Check how long the renewal is. Do they need to give you any notice? Make sure that you know the procedure in order to prevent any auto-renewal. Shipping fee, packing fee, transportation insurance and other charges may be required and it could be charged to you. Copiers are heavy and massive machines and they are not inexpensive to ship. Make sure that you know the details or you could be surprised at this cost. 

System overhaul

This is a fee charged to service your system to previous benchmark level. 

When leasing any copier or printer, it is important to understand the terms of your lease early in the buying cycle. Understanding your options at lease end and the financial impact it may have on your company is important before you sign anything. 

Sometimes, having a lower lease cost may mean that there will be additional expenses at the lease end. Make sure that you understand your lease, and you know your options, and you have end-of-lease costs all outlined in writing before you sign. Knowing your options and the impact that end-of-lease costs can have on the overall life cycle costs of the equipment is a good business practice. 

While most aspects of any copier lease are all industry standard, there is still a time and place for customizing the terms, from minimum print counts to the frequency and cost of ink delivery, you want the terms to suit your business so you are not stuck paying for more copies that you actually use.  

A local copier service can give you a chance to sit down with the salesperson. It is important to talk through your daily operations and to land on a copier lease that can help satisfy your printing demand instead of going above and beyond. It is always better to have to upgrade service later than to renegotiate the terms during the lease. 

The end-of-lease terms are usually the big difference between a copier purchase or copier lease. The big question to ask yourself and your dealer is, is the lease a fair market value or a dollar buy-out? Most leases include an option to buy the copier after the lease. Buying the equipment for one dollar sounds like a steal, but think really hard about it, that means that your monthly payments will have added up to more than the cost of the copier. 

Also ask your deal about how to send the copier back. Will a local dealer come and pick it up or do you have to ship it? Your lease needs to specify exactly who foots the bill and who carries it out. And, check how you end a copier lease. Check if it is normal that you will have to notify the company in writing that you want the lease to end and what happens if you don’t? The lease can be a monthly agreement or it can be re-up for another year. 

If you need copiers in your office, you can opt for a copier lease. Copier leasing in Las Vegas can help you get the copier of your choice. You can talk to copier leasing services in Las Vegas for details.