Prevent Trouble: Understand Your Copier Lease
The first aspect to beware of is the auto-renewal clause found in standard lease agreements. An auto-renewal clause will automatically renew your lease if you do not notify your leasing company within the predetermined date. This renewal ranges from a month-to-month basis and up to a year. Many leasing companies have made thousands of extra dollars off businesses that did not realize they had to cancel 180 days in advance.
Businesses should also understand who will be responsible for the return shipping. Depending on where it will be shipped, the price ranges from $500 to $2,000, so the price is significant enough that you do not want to be stuck with the bill. In addition, ask if there are any hidden fees that come with the lease. Understanding this early will prevent unwelcome surprises, and it becomes a negotiation point. Once you have signed a lease, you are at the mercy of your leasing company. You have signed a contract, so you should take your time in signing it. Check to make sure that the lease does not overly favor the leasing company.