“What You Need to Know Before You Lease Copier Printer Office Equipment
(And More Tricks Copier Printer MFD Companies Pay to Legally Steal from You!)
Part I
First, if you are looking to lease a new or used photocopier, digital printer copier or laser printer office equipment you need to know a few facts before you sign on the dotted line.
Important questions to ask leasing companies for laser printers and digital copiers beyond the monthly payment amount before you sign on the line:
1. Look to the future: What is the buy-out amount? What does the buy-out clause say on your copier lease maintenance agreement? If you do not see a buy-out clause then do not sign on the dotted line! The copier lease should say either $1 or FMV (fair market value).
If your lease agreement says FVM then have them write in an actual dollar AMOUNT. If they say the can not because they do not know then they are full of it or trying to keep you in the dark to get you when the lease is over!
Printer and copier amortize the cost of the hardware over the lease period of the copier. It is not like a car lease where the car still has a high value. They know the value at the end of the copier lease and it’s usually 10% or less than the original cost. If they refuse to put in a value then tell them you want a $1 buy-out copier printer lease instead of FMV office equipment lease. If you have a 3 or 5 year lease then monthly amount between FMV and $1 copier lease buyout is very small!
2. Are your copier printer leasing company and the maintenance company the same? Be careful with this one it could cost you BIG time! Recently, several new clients had this problem. They lease a copier printer from Ricoh Lanier copiers, Toshiba copier printers, Sharp Copiers or other big name company who actually are the service providers not the actual finance company.
This is not a big problem until one company is bought out and the new service company refuses to service the equipment but the client still has to keep paying the copier lease monthly amount. The equipment copier printer leasing finance company says talk to the copier or printer service company. The bought out copier printer service company says they are no longer obligated to service the equipment. So the client is stuck in the middle with a broken machine and still has to pay the copier leasing company money!
Make sure everything is under one company! You pay the copier lease monthly amount to one company and the contract says that the company you are paying is responsible for the service and the finance for the office copier printer.
Whoops: I need to get this post out so look for part II soon. I need to go to a meeting! If you need to know faster how to prevent getting hooked into an expensive lease and ticks copier leasing companies play contact me now through our blog or go ahead to our website for a quick response. I hope this article was helpful.
Sincerely,
Your Friends at Advanced Business Computers Inc.