13 Jun Stuck In Your Copier Lease
You must know your options to break your copier lease. The person who signed the lease on behalf of the company may not have read the fine print. You need to painstakingly read all the legal jargon before signing on the dotted line of any legal contract. Copier leases vary, and there are a few courses of action for getting out of a lease. You’ll have to dissect the current contract to look for possible options for termination. Read on for some ideas to help you navigate your current difficulty.
Typical Copier Lease Agreements
Most copier leases typically run for 24, 36, 48, or 60-month terms. The monthly payments for longer leases are lower but often have less attractive interest rates. The employee in charge of acquisitions and the company’s budget signed the lease and may have overlooked an important detail. The person working with a tight budget could have weighed heavily in the decision without adequately considering the long-term effects.
Sit down with the contract to read it carefully, as some clauses might favor you. These are unlikely since it’s the copier company’s contract. In general, copier lease contracts are boilerplate documents. That means they are nearly all the same. They protect the company leasing the equipment. Review the fine print regarding the cancellation of the contract. The lease will resemble rental agreements because you agree to short-term use. Most companies upgrade instead of extending the lease.
Lease Buyout Programs
You can buy out the lease agreement based on what your company still owes on the contract. The acquisition person can determine the conditions for a buyout or cancellation. If you’re near the contract’s end date, it won’t be as expensive as if your contract is new. A copier lease buyout is a good option if your company wants to break the lease contract. The leasing company will factor in the remaining payments for the machine’s residual value. You can also try to negotiate with the leasing provider for early cancellation of the contract.
Reasons To Break Your Lease
All companies aren’t created equal. A business with outstanding customer service has a much higher client retention rate. Some copier leasing companies only lease to the industry, leaving the client to find a quality service company. Copiers have more features than before. Employees that conduct business offsite or off-hours will find remote management invaluable when problems occur while doing business. High-level security protection is paramount to protecting your company’s data from hackers.
Some of the mind-boggling features available in today’s market are enough to make anyone want to break a lease. Kyocera product highlights will give you an idea of what the best copiers available offer to enhance your business. The WFH model is still in place for many companies post-pandemic. Your employees need access to available copier features to streamline productive workloads.
CBS Imaging can help you navigate your current copier lease that you’re stuck in, so you can move forward efficiently. We’ll help you update your essential equipment! We’ve been in the copier business for 35 years. Our extensive experience can help you take your business to the next level by utilizing the industry’s best equipment.