7 Key Things You Should Do Before You Sign a Copier Lease

Leasing a copier is a significant decision for any business. It offers numerous benefits, such as lower upfront costs and access to the latest technology, but it also comes with responsibilities and potential pitfalls. To ensure you make the best decision for your organization, it’s essential to be well-informed before signing a copier lease. This article covers the key considerations and crucial information you need to know. 

Before even looking at lease options, take a comprehensive assessment of your business's printing needs. Consider the following: 

• Print Volume: Estimate the number of pages your organization prints monthly.
  

• Functionality: Determine whether you need additional features such as scanning, faxing, or advanced finishing options.
  

• Future Growth: Consider how your printing needs might evolve over the term of the lease. 

This initial evaluation will help you choose a copier that matches your requirements and avoid overpaying for unnecessary features. The opposite (underselling) can also be a tactic used by print providers to give you a perceived lower price by recommending a machine that won’t meet your print demands. Ensure you’re comparing like-devices before you sign. 

Copier leases generally fall into two categories: operating leases and capital leases. Knowing the difference is crucial for making the right choice. 

• Operating Lease 
  An operating lease is similar to renting. You use the copier for a set period and return it at the end of the lease. This type of lease usually offers lower monthly payments and is ideal for businesses that plan to upgrade their equipment regularly. 

• Capital Lease 
  A capital lease is more like a financed purchase. You make regular payments, and at the end of the lease term, you typically have the option to buy the copier for a nominal fee. This type is suitable for businesses that intend to keep the copier for a long time.  

Initial and Monthly Costs 

While leases spread out the cost over time, ensure you understand the initial setup fees and the structure of monthly payments. Check if the payments cover maintenance and supplies or if these are additional costs. 

Hidden Fees 

Be aware of potential hidden fees, such as charges for early termination, exceeding print limits, or not returning the copier in a specified condition. Clarify these fees upfront to avoid surprises. 

A solid maintenance agreement is critical for uninterrupted operations. Here are key points to consider: 

Coverage 

Ensure the maintenance agreement covers all necessary services, including routine maintenance, emergency repairs, and supply replacement. Understand what is included in the contract and what extra charges there might be. 

Service Level Agreements (SLAs) 

Check the response times guaranteed in the SLA for repairs and maintenance. Delayed service can disrupt your business, so a quick turnaround is essential. 

Understanding the contract terms is vital to avoid future complications. 

Lease Duration and Renewal 

Know the length of the lease and be aware of any automatic renewal clauses. Set reminders for key dates to review and renegotiate terms before the lease renews. 

Termination Clauses 

Understand the penalties for early termination. This knowledge provides flexibility if your business needs change and you need to end the lease early. 

The copier must integrate seamlessly with your existing IT infrastructure. 

Network and Software Integration 

Verify that the copier can connect to your network and is compatible with your operating systems and applications. Discuss these requirements with the leasing company to avoid future compatibility issues. See article titled [What Could Go Wrong in a Copier Lease]. 

Consider Data Security 

Copiers store data on their internal hard drives, which can pose security risks if not managed properly. Ask what will happen to that data at the end of the lease when the equipment is returned to the leasing company. Will it be wiped? Are there any fees?  

Data Protection 

Ensure that the copier has robust data protection features, such as encryption and secure data erasure protocols. At the end of the lease, make sure all data is securely wiped from the copier’s memory. See article titled [Ensuring Data Security with Leased Copiers]. 

Reputation and Reliability 

Research the leasing company’s reputation. Look for customer reviews and ask for references. A reliable company will provide consistent service and support throughout the lease term. 

Support and Service 

Evaluate the level of support and service the leasing company offers. Good support can make a significant difference in minimizing downtime and resolving issues quickly. 

Understanding what happens at the end of the lease is crucial for planning and budgeting. 

Return Conditions 

Know the conditions under which the copier must be returned. This includes its physical condition and any requirements for data erasure. Failing to meet these conditions can result in additional charges. 

Purchase Options 

If you’re considering keeping the copier, understand the buyout terms at the end of the lease. This can often be a cost-effective way to retain equipment that still meets your needs. 

If you’re paying close attention, you’ll notice the title said seven things, but we gave you eight. We over-delivered! 😉  

Also, this is the kind of attention to detail that you need when looking at a lease. 

We’re being a bit playful – but we’re also making a point. Attention to detail is important. One more contingency, or one more cost, could be a deal break. One more feature, or one more advantage, could be the reason to move forward.  

Signing a copier lease involves careful consideration of various factors, from understanding different lease types and scrutinizing costs to ensuring compatibility and planning for the end of the lease term. 

Flex Technology Group is brand neutral – our sole interest is matching you with the best devices and the right lease for your business needs.  

Our leasing experts are ready to assist you. Get in touch with us for an assessment of your current print operation and your business needs. We’d love to help.