Leasing Copiers 101: All the Basics You Need to Know in 2022
In the market for a new copier? You’re not alone. In fact, according to recent studies, leasing copiers is one of the most popular choices small business owners make when it comes to office equipment. But with so many options out there, how do you know which one is right for you? This article will walk you through all the basics you need to know about leasing copiers in 2022 – from what to consider before signing a lease agreement to how to find a reputable company. So whether you’re just starting your research or are ready to pull the trigger on a new lease, read on for everything you need to know!
Why Do Businesses Choose Leasing Over Purchasing Copiers?
There are many reasons businesses choose leasing copiers over buying copiers.
The most common reason is leasing provides them with an affordable way to get the latest and greatest technology without having to pay the full purchase price upfront. Leasing also offers businesses the flexibility to upgrade their copier leasing agreement as their needs change.
Another big reason businesses lease is because it allows them to budget for their expenses more effectively. When you buy a copier, you have to pay for repairs and maintenance costs in addition to the initial purchase price. With leasing, these costs are included in your monthly payments, so you can better predict and manage your expenses.
Finally, leasing gives businesses the option to return or trade in their copier at the end of the leasing term, which is a great way to get rid of outdated technology and upgrade to the latest model.
Now that you know some of the reasons businesses choose leasing over buying, let’s take a look at the basics of leasing copiers.
What Is A Copier Lease?
A copier lease is an agreement between a business and a leasing company that gives the business the right to use a copier for a set period of time, typically 36 or 60 months. In exchange for this use, the business agrees to make monthly payments to the leasing company. At the end of the lease term, the business may have the option to purchase the copier outright, return it to the leasing company, or lease another one.
Leasing a copier can be a good option for businesses that want the latest and greatest technology but don’t want to commit to purchasing a machine outright. It can also be a good option for businesses that don’t have the cash on hand to buy a new copier outright.
What Are The Different Types Of A Copier Lease?
One of the first questions you might have when considering leasing a copier is what type of lease is right for you and your business. There are three common types of leases:
- Fair Market Value (FMV): With an FMV lease, you make monthly payments based on the fair market value of the copier at the end of the lease term. This means that your payments could go up or down depending on how well the copier holds its value.
- $1 Buyout: With a $1 buyout lease, you make monthly payments for the entirety of the lease term and then have the option to purchase the copier for $1 at the end of the lease. This type of lease is typically best for businesses that plan to keep the copier for a long time.
- Operating Lease: With an operating lease, you make monthly payments for the use of the copier but do not have the option to purchase it at the end of the lease term. This type of lease is typically best for businesses that only need the copier for a short period of time or businesses that prefer not to own their equipment outright.
What Should I Consider When Choosing A Copier Lease Company?
When leasing a copier, there are a few key factors you’ll want to keep in mind in order to choose the best lease company.
First and foremost, you’ll want to make sure that the company you’re leasing from is reputable and has a good track record. You can read online reviews or ask around for recommendations from friends or colleagues.
Secondly, you’ll want to compare leasing terms and conditions from different companies in order to get the best deal. Make sure to read the fine print so that you’re fully aware of all the details involved in your lease agreement.
Finally, it’s always helpful to have a clear idea of what kind of support and maintenance the leasing company offers in case you have any issues with your copier down the road.
Regardless of the size of your business, copier leasing is a great option to consider. By leasing a copier, you can avoid the large up-front costs associated with purchasing one and you’ll have access to the latest technology. Not sure where to start? Give us a call today! We would be happy to help you navigate through all the different options and find the best lease for your business.
Are You Looking for a Photocopier Near Concord, California?
Office Machine Specialists has been servicing and selling office equipment since 1995. A family-run business that has dedicated our efforts to providing the best equipment options and after-sales service to our clients. Our goal is to ask the right questions and guide our customers to make smart decisions about new machine leases and purchases. We were servicing copiers long before the internet was a viable resource, and have transitioned to the digital workflow environment of color printing, scanning, account control, and fleet management. With over 20 years in the industry, we have extensive experience with all the major brands and consider OMS to be a valuable resource to any organization. Contact us for all of your copier needs here!
