Are you uncomfortable with the litigant contained in a photocopier lease? If you`re not a lawyer or don`t have experience backing up a photocopier for your business, an office lease can be a daunting document. Many leasing companies allow you to add photocopiers to a lease and recaculate the lease based on the additional equipment. Look carefully at the figures of hidden rate increases and make sure that you do not pay more than the value of the equipment. Discounts. Often, photocopier manufacturers offer promotions to make their credit-copier agreement more attractive than their competitors. Your dealer should draw your attention to all discount programs. Many companies enter into a photocopier rental agreement to prevent thousands of dollars from being spent in advance to purchase a high-end multifunction copy. By signing a copy rental agreement, you pay a monthly or quarterly fee for your photocopier for the duration of a rental agreement, which usually lasts three to five years. Fair market value. It is not uncommon to sign a photocopier rental agreement that will give you the opportunity to purchase the photocopier at the end of the rental agreement. Companies usually opt to purchase a photocopier at the end of a short-term lease, as the photocopier with a longer lifespan is likely and has not reached a stage of unreliability.
The purchase price set by the bank is usually between 25 and 30 percent of the initial cost of the machine. If you do not send a statement of intent to the lender for the return of the machine within the period indicated in the rental agreement to copy, an automatic extension of 12 months can be made. The extension means one year of additional payments for a photocopier you may no longer want. If your service contract and rental are combined, you also pay for the service. It is advisable to have a service contract separate from your lease. Be sure to post a warning in your electronic calendar for the expiration date and take action! Owner. Although you get a photocopier through a photocopier leasing company like Superior Office Systems, you finance the leasing through a bank or other credit institution. Just like when you rent a car, your dealer chooses the lender, who is designated as a lessor under the terms of the contract, based on who offers favorable interest rates and who will be most likely to approve your credit. Be sure to check the shipping terms of your copier rental agreement. It is not uncommon for the lessee to be responsible for collecting the shipping log, which could exceed $500 $US.1 of redemption option. As mentioned earlier, lenders sometimes allow you to buy the photocopier at the end of the lease agreement for $1. The buyout may seem like an attractive option in your credit-copier agreement, but it could cost you more money for your monthly leasing payments.
It may be wiser to accept smaller payments and decide at the end of the lease if you want to buy the photocopier. If you decide at the end of the rental agreement, you will have the advantage of knowing the status of your copier and whether your copying requirements have changed. Payments. Their payments are based on the value of the machine divided by the number of expected payments during the term of the lease, plus interest. Automatic extension. Automatic contract renewals are not uncommon in a copy rental agreement and a tenant`s nightmare. If your lease is approaching its expiration date, you must inform the financing company of your intention to return the equipment. Duration of the lease. This is the period you have agreed for the use and payment of the photocopier.
Leases can take 24 to 60 months, but are usually three to five years. Longer leases mean lower monthly payments, but are generally more expensive. If you expect high volume usage, you may not want to last 5 years, as your computer may be that long. Your dealer should advise you on the duration of the lease based on the volume, type and brand of the equipment. Let`s take a look at some of the challenges you face when dealing with a photocopier machine rental.. . . .