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:
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.
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.
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:
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.
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.
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.
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.
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].
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?
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].
Choosing the right leasing company is as important as choosing the right copier.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.
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.
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.
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.