15 Nov Copier Leasing: Understanding Advantages and Options
In today’ high tech business world, having access to state-of-the-art office equipment is necessary to maintain a competitive advantage. However, small businesses or startups can rarely afford to purchase cutting edge equipment due to budget restrictions and turn to leasing it instead. Even larger companies find it advantageous to lease the most advanced office equipment rather than purchasing it outright.
Benefits of Leasing Office Equipment
Technology changes rapidly and, as pointed out, it is advantageous and even necessary for many companies to utilize the most advanced technological office equipment in order to remain competitive. By leasing copiers instead of purchasing them outright, you can swap older units out for newer, more advanced units as your lease ends and continually improve office productivity.
Leasing copiers also allows you to keep more working capital free and more precisely predict monthly budget expenses which are both critical elements in successful businesses. In some cases, there are tax advantages to leasing office equipment as well. You should consult with your company accountant or tax advisor on how leasing can best benefit your company.
Most Common Lease Options
When looking into copier leasing, keep in mind that details can vary between lease contracts so you should ask questions and look over details thoroughly before signing. Most office equipment leases offer several options from which you must choose and, since a copier lease contract lasts from between 36 to 60 months, you should know to what you are committing beforehand.
The details of the lease, however, boil down to several important clauses such as
- Automatic Annual renewal which if not address in the pre-determined you’re your lease will auto renew for a term dictated in the lease. We recommend setting a reminder 90 days prior to the lease expiration to notify the lease company that you do NOT intend to renew.
- Fair market value clause which can leave you paying a final ballooned payment at the end of your lease. This is used for lowering your monthly expense while offering an easy upgrade solutions at the end of the least.
- $1.00 Purchase Option is used for buyers who want to lease to own the equipment. Apart from the FMV lease the $1.00 buyout option has a slightly larger a month payment, but the customer will own the equipment outright at least term for $1.00.
You also want to find out such information as who will pay for impressions made during service calls and do you or the copier leasing companies replenish supplies.
Advantages of Arizona Business Equipment
Arizona Business Equipment offers numerous advantages to companies seeking copier rentals or other types of office equipment leases. ABE provides leasing terms that are quite flexible in order to meet the needs of various types and sizes of client companies. We also offer maintenance contracts separately from leasing contracts which ends up saving you money.
As the end of your copier lease approaches, you can contact Arizona Business Equipment for assistance and customized solutions for upgrades to the newest models. We are committed to providing you with the best office equipment at the greatest value that meets the specific needs of your budget and business objectives.