If you are a company who is getting ready to lease a copier or return a copier off lease, then here are some tips that may be handy for you to know about.
When you are looking to lease a copier, keep in mind what this really is!
A copier lease is essentially a way to finance equipment, and this financing may or may not give you some tax advantages. (Speak to your accountant.) For most companies who want to lease a small copier (under $3,000), they would be better to just put the thing on a credit card. This would have a lower interest rate for them, but few copier companies really take the time to explain how a lease really works. Here are the basics of how a copier lease works.
When you decide you want a copier and apply for financing, the copier company is given a lease rate by their preferred vendor. If it is, say .03 on a 3 year lease, that just means that the copier company takes whatever the price of equipment is (say $10,000) and multiply it by .03 to get a $300 per month payment. This payment is added to any supplies and maintenance program and this is the general monthly cost you see. The copier lease can be for the copier only, and have the supplies and maintenance separate, or it can be all inclusive. The disadvantage to an “all-inclusive” is the bank is now involved and changing your base prints (business gets way busier or way slower), becomes super difficult to do. We’d recommend keeping the two separate.
If you pay cash, the fear is generally that you won’t be able to get service contract for the new copier. The fear is only accurate if your copier company will not sell the copy machine separate from the service contract. This is generally their call, so it does not mean you have to lease the copier to get a service contract. Think of it like a maintenance plan, you can choose to have a plan or not. Your call.
If you are looking to lease a copier in Denver, we’d love to help you out with this need.