Points to Consider Before You Sign a Copier Lease Agreement

Points to Consider Before You Sign a Copier Lease Agreement
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The dependence of businesses on paper works and hardcopy documentation makes having a photocopier much essential for businesses even today. However, you may get photocopiers for sale at attractive prices, photocopier rental is a cost-effective option to save business investment. In order to lease copiers, the company will need to sign an agreement with the copier provider. By signing this lease agreement, the company will obtain the essential equipment without a significant initial investment. Before you go to lease a photocopier, there are few factors that you must consider to get the best deal.

Buyout or FMV

Usually, copier lease agreements are available mainly in two varieties – Fair-market value (FMV) and buyout. In a buyout agreement, through the regular fixed payment, the company will own the copier at the term-end. The buyout will help companies buy a copier with convenient regular payments and thus convert it into their assets. However, a high-interest rate is a major drawback of this copier leasing. In the case of the FMV lease, the company can choose to either buy or return the photocopier in functional condition after the term-end.

Provisions for Autorenewal

When you lease copiers, the agreement involved in the deal will comprise a clause for automatic renewal of the lease after the tenure gets over. However, the leasing company will seek the customer’s reply on whether they wish to continue the service and renew the agreement. The response will need to be provided within a specific time period of a month or more. If you wish to cancel the deal but don’t inform the copier lease provider within the stipulated time, the lease will be auto-renewed. A good photocopier lease company will remind you of the deadline to help you decide whether you wish to continue using the lease copiers or no.

Maintenance Coverage

The most important factor to consider during photocopier rental or lease is the provision for equipment servicing and maintenance. Either you can get a single contract with leasing and service details or go for separate maintenance and lease copier agreements. In the case of a single contract, you will be bound to get photocopier servicing from a single provider, irrespective of their service quality. Separate contracts provide wider flexibility to change the service provider as per your convenience without disturbing the main lease contract.

Clear All Your Queries

Signing a copier lease agreement means binding your company with all the clauses and conditions related to the equipment. Hence, make sure you clarify all the queries related to every criteria mentioned to avail the lease copiers. Enquire and assure that there are no hidden charges whatsoever that may incur during the lease tenure.

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