I’ve met with hundreds of businesses to talk about the technology in their offices. Every organization is unique, but when I ask about the copiers, “I think we lease it or something” is the common response.
The truth is, leasing a business copier can be confusing and sometimes frustrating. Way too many people are stuck in bad copier deals, so we’re going to clear things up.
1. You have options
Once you sign a lease and your device is installed there is no going back. It's really important that you know about your options so that you can make the right choice.
Always ask about leasing options. You might find out about an option that better suits your business. Also, make sure that you are fully informed on how your lease works because once you make that decision, there’s no going back.
2. Leasing Vs. Purchasing
Most organizations don't know the pros and cons of leasing a copier versus purchasing one out right. The truth is, the right option varies depending on each specific situation.
Take the time to decide which option is best for your business. (see comparison below.
3. Avoid Unexpected Costs
Almost everybody has gotten a bill with new, unexpected charges. This isn’t just limited to your phone or internet bill but it’s also really common with copier leases.
Be aware of additional charges and know how to avoid them. Every lease will have a one time documentation fee of about $100. There’s no way around it. Second, the leasing company will automatically charge for insurance on the new device. To avoid this fee just call your insurance provider and let them know about the new device.
4. Don’t get trapped, send a "Letter of Intent"
Leasing companies will not notify you when your lease is coming to an end. If you do not contact them with a "letter of intent" then they will automatically extend your lease! Don't end up wasting money on an outdated machine.
Be aware of when your lease is ending. Get quotes from service providers and contact the leasing company to let them know that you don’t plan on letting the lease renew. You have to actually send in a physical letter of intent.
Investing in technology should never make you feel uneasy but confusing leases do just that. All you can do to protect yourself is be educated and make transparency a requirement from your provider.