Copier Lease Tricks to Understand — Part 1
- How to Protect Yourself
I was thinking today it would be good to tell you about a little known way to save money on your copier lease and it has to do with lease rates. If you were to buy a small copier for $3,001 for a 48 month lease, the monthly FMV cost (you give it back at the end of the lease) would be $74 approximately. Now, if you paid $2,999.00 for the same piece of equipment, the bank we work with would charge $91 a month for a 4 year FMV lease. Let’s break this down simply…
48 Month FMV Lease for a Copier in Denver…
$2,999 — $91
$3,001 — $74
Same timeframe, same type. Paying $2 less for the copier will cost you about an extra $815. How can this be? A little known secret about copier leases (and leases in general) is they have stepping mechanisms where if you spend a particular dollar amount, you get a better rate. These steps can be dramatic. What do you want to do?
You will want to ask if there is just one lease rate for any dollar amount or if the lease rate varies based on total cost of the unit. Now, if total cost of the unit has a factor, ask where these breakpoints are… sometimes you may be within $200 of the next level and you could get install services for $200 to get the better rate. Just be aware these weird situations exist in the copier lease world and ask questions. We would be happy to help you save money on your next copier lease in Denver!