Your San Diego Copier Lease ExpertsThinking about leasing a copier for your business? You’ve come to the right place! Leasing a copier is definitely the best choice if you understand your needs for a set period of time. At the end of the term, you’ll also have the flexibility to purchase or swap out the equipment.
At Office Space Copier, we’re experts when it comes to all things leasing. See how we can help!
- We created a free eBook to help you understand the leasing process.
- Not sure if you should rent, buy or lease a copier? We’ve got you covered.
Copier Leasing FAQsWhat should I negotiate when entering into a new copier agreement?
Here’s a checklist of what to negotiate when entering into a new agreement:
- No annual increases
- 30 Day renewal at the end of the lease. Cross out the Evergreen Clause
- Maintenance Agreement is separate from your Lease Agreement
- Add a Performance Guarantee to your paperwork and have both parties sign off on it. Click here for a Performance Agreement.
- Install, setup, delivery, and training should be included
- No document processing fees
What should Maintenance Agreements include?
Maintenance agreements should include toner, parts, service and labor. Paper, staples, and IT services are excluded after initial installation.
How much will I pay for Maintenance Agreements during my lease?
Maintenance Agreements increase 10% every year. You can and should negotiate this prior to signing a lease, so there are NO annual increases.
Tell me more about Maintenance Agreements.
Have your maintenance agreement separate from your lease. Most leases are for 60 months, but your business will change in this 5 year time period. You will either make more prints per month or less. If it is in your lease agreement, you cannot make any changes to the allotment of copies. And if your maintenance is inside your lease, the entire payment will increase 10% every year.
What are common hidden fees in a maintenance agreement?
- There are several hidden fees in a maintenance Agreement that should be negotiated prior to committing.
- 10 % annual increases
- Travel - They can charge you a trip fee per service call.
- Shipping fees - Toner is to be shipped to you when you need more. This should be included. It is common for companies to charge the shipping fees.
What should I do if my copier is breaking down a lot?
If your copier is breaking down more than it should and your current vendor is trying to upgrade your equipment prior to the lease expiring, they should replace the copier for the term of the lease if the monthly average usage is in the specs of the machine.
What should I do if the copier company wants to upgrade my copy equipment early?
If you still have remaining months on your lease and your current vendor is trying to upgrade your equipment early, they are rolling your remaining payments into the new lease. Leases do not go away, and they do not “payoff” your remaining payments. You are financing the debt of your old copier into your new copier. Finish the term of your lease everytime.
Tell me about Performance Guarantees.
Negotiate a Performance Guarantee, and get it in writing. Click here for an example of a Performance Guarantee. The most critical portion to negotiate? If the equipment is not operating within the manufacturer’s specifications, the copier or accessories should be replaced for the remaining term of the lease.
Tell me about quarterly reviews.
Ask for quarterly reviews. If you have a seasonal business and or school, reduce your allotment of copies during the summer so you aren't paying for copies that you aren't making.
How can I be approved for a lease?
In order to be approved for a lease you need to have 3-5 years of bankable history to be considered. Anything short of 5 years in business will require a personal guarantee (PG). If you do sign a PG, ask them to run your credit every 12 months and remove your PG once you have made these on time payments. You must negotiate this prior to entering into the agreement.
What You Should Know About Copier Leasing
What should I do near the end of my copier lease?
Every lease has a termination clause. 90-120 days prior to your lease expiring, you need to send in your LOI (Letter of Intent), letting the leasing company know you are going to return the equipment at the end of your lease. Click here for the sample letter. If you do not send in this letter, your lease can automatically renew for 90 days or up to a year. If you are considering signing a new lease, make sure you suggest or demand changing the terms to 30 day renewals.
Tell me more about the LOI - Letter of Intent.
Your LOI (Letter of Intent) needs to be printed on your letterhead, signed and faxed/emailed back to the leasing company. If you need this information please send me a message and I can get it to you. If you think you missed this date, reach out to me as well so I can walk you through the process prior to you reaching out to the leasing company.
- August 27, 2019
- July 11, 2019
Do you have questions about copier sales, leasing, and rentals?
Contact us and we’ll get back to you as soon as possible.