If you’re setting up a new office or updating existing equipment, the right copier lease can have a substantial impact on your workflow and efficiency. This comprehensive guide will show the advantages of leasing a copier, the variety of leases you can choose from, and considerations to keep in mind before signing a contract.
What Is a Copier Lease?
A copier lease is a contractual agreement where a business pays a monthly fee to use a copier for a predetermined period. This arrangement avoids the upfront costs of purchasing a copier outright and usually includes maintenance, supplies, and upgrades.
So, why would you want to lease a copier? There are many reasons why it might be better than buying a copier. Here are just a few of them.
Financial Flexibility
When you lease a copier, you’re not sinking a chunk of your budget into a piece of equipment up front. Instead, you make manageable monthly payments, which can be a huge relief, especially for smaller businesses and startups. Having such flexibility means you can allocate funds to other areas of your company that might need more immediate attention or investment than buying a piece of equipment.
Technology Updates
One of the most convenient perks of leasing is that you get to upgrade to the latest model at the end of your lease term. This means your office always has the most current technology and stays efficient and competitive without the hassle of selling or disposing of outdated equipment.
Maintenance and Support
Nearly any office manager knows that dealing with a broken copier can be a nightmare, especially when you’re on a tight deadline. Thankfully, most copier leases include service contracts, which means you get professional support for maintenance and repairs. Therefore, there’s no more need for troubleshooting guides or waiting on hold with support—help is usually just a phone call away.
Types of Copier Leases
You should pick the right type of lease to align the agreement with your business operations and financial strategy. Take a look at some of the lease options that you can choose.
Fair Market Value Lease
A fair market value lease allows for lower monthly payments with the option to purchase the equipment at its fair market value at the end of the lease term, return it, or renew the lease. Fair market value is essentially the current value of an item.
$1 Buyout Lease
If you run a business that plans on keeping the copier long-term, the $1 buyout lease is structured so that at the end of the lease, you can purchase the copier for just one dollar. In a way, the payments you make during the lease term count as paying for the copier on a monthly payment plan.
10% Option Lease
A 10% option lease is a compromise between lower monthly payments and a reasonable end-of-term purchase price (10% of the original equipment cost). It may not be the same as a payment plan, but it gives you benefits once the lease expires.
Understanding Your Lease Agreement
Before entering into a lease agreement, you must understand the terms and conditions and what they mean for your company.
Lease Term
When picking a lease term, you have options ranging from a year up to over five years. Think about how long you want to commit to the same copier. Opting for a longer term can shrink your monthly payments, which is handy if you’re watching your budget closely.
Total Cost
The sticker price on your lease isn’t just what you pay each month. It includes those payments plus any extra fees that might come up, such as excess usage or optional services. It’s a good idea to ask upfront about all the possible charges so you don’t get surprises later.
Service and Maintenance
Read the fine print. That’s where you’ll find out what the lease covers in terms of service and maintenance. Most plans will handle your regular repairs, but it’s smart to ask what exactly is included. Will they cover major malfunctions? What about routine check-ups? Knowing this can save you a headache down the road.
How to Choose the Right Copier for Your Lease
Picking the right copier means determining how much your office prints on the regular, including volume, paper size, and additional functionalities like scanning and faxing.
Print Speed
A fast copier keeps things moving smoothly, especially during hectic days when everyone needs to print documents at the same time. Quick print speeds prevent bottlenecks at the printer and keep your team productive.
Print Quality
Quality matters, especially when you’re handing out documents to clients. High print quality means crisp, professional-looking documents that can make a good impression. If your company relies on beautiful presentations or detailed reports, your copier should definitely hit the mark on quality.
Additional Features
Think about the copier’s bells and whistles. For example, does your team need to print on both sides of the paper without manually flipping each sheet? What about printing from a phone or tablet or sending documents directly to cloud storage? Depending on your answers to these questions, features like double-sided printing, wireless connectivity, and color printing capabilities might be something you’ll want to include.
Frequent Concerns About Copier Leasing
It’s worth knowing that you can upgrade the copier during the lease term. Most leases indeed allow for upgrades or replacements under specific conditions.
What happens if the copier breaks down? The lease should include comprehensive maintenance and service clauses.
Whether it’s better to lease or own can vary from company to company. However, leasing is often more beneficial for businesses that prefer lower upfront costs and regular upgrades.
Lease Well
A copier lease can be a smart financial decision for companies that prefer not to spend much money on office equipment upfront. It offers the flexibility to maintain state-of-the-art office efficiency with manageable payments while also ensuring that you’re not left behind as technology progresses.
If you’re in Troy, Detroit, or Flint and considering a copier lease, don’t hesitate to reach out to Elite Imaging Systems through our contact page. We’ll help you find the best copier that suits your company.
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