How to Get the Best Deal on a Copier or Printer Lease

Do you know how to get the best deal on a printer lease? 

Negotiating a copier lease can be a daunting task, especially if you are unfamiliar with the intricacies of leasing agreements and the terminology involved. However, with the right preparation and strategies, you can secure a lease that meets your business needs and offers favorable terms. This article provides practical tips on how to negotiate a copier lease like a pro, ensuring you get the best possible deal. 

The first step in negotiating a copier lease is to be well-prepared. 

Understand Your Needs 

Identify your business’s specific printing requirements. Consider the volume of printing, types of documents, necessary features (such as duplex printing and scanning), and future growth projections. Knowing exactly what you need will help you choose the right copier and negotiate terms that match your requirements. 

Research Leasing Companies 

Look for reputable leasing companies with good reviews and a track record of reliable service. Compare offerings from multiple providers to get a sense of the market rates and the different types of leases available. 

Know the Lease Types 

Understanding the different types of leases will help you choose the best option for your business. 

• Operating Lease
  An operating lease is similar to renting. You use the copier for a specified period and return it at the end of the lease term. This type of lease usually has lower monthly payments and is ideal for businesses that plan to upgrade their equipment regularly.
• Capital Lease
  A capital lease, also known as a finance lease, is more like purchasing the copier over time. You make monthly payments, and at the end of the term, you typically have the option to buy the copier for a nominal amount. This type of lease is beneficial if you plan to keep the copier for a long time and want the benefits of ownership, such as asset depreciation for tax purposes. 

Entering negotiations with a clear strategy and understanding can significantly improve your chances of securing a favorable lease. 

Set Your Budget 

Determine your budget for leasing a copier, including the maximum monthly payment you are willing to make. Be prepared to discuss how you can manage costs to stay within your budget. 

List Your Priorities 

Identify your top priorities for the lease agreement. These might include the length of the lease, the inclusion of maintenance and supplies, flexible upgrade options, or favorable early termination clauses. Knowing what is most important to you will help you focus the negotiation on these key areas. 

Come Prepared 

When starting a new relationship with a leasing company, you should have your company's financial statements available for review. This will allow you to work quickly through the approval process so that when you are ready to start implementing your new office equipment, the financial underwriting will be a smoother process.  

When negotiating a copier lease, several critical points can make a significant difference in the overall value and flexibility of the agreement. 

Monthly Payments 

Negotiate the monthly payment to ensure it fits within your budget. Be aware that lower monthly payments might result in higher overall costs if the lease term is extended or if there are hidden fees. 

Lease Duration 

Discuss the length of the lease term. Shorter terms offer more flexibility but may come with higher monthly payments. Longer terms can provide cost savings but may lock you into a contract for a longer period. 

Maintenance and Support 

Ensure the lease includes a comprehensive maintenance and support agreement. This should cover routine maintenance, emergency repairs, and supplies like toner and paper. Clarify response times and service level agreements (SLAs) to avoid disruptions. 

Hidden Fees 

Ask about any potential hidden fees, such as charges for exceeding print quotas, early termination penalties, or costs for returning the copier in a specific condition. Make sure these fees are clearly outlined and understood before signing the lease. 

Using quotes from multiple leasing companies can strengthen your negotiating position. 

Obtain Multiple Quotes 

Request detailed quotes from several leasing companies. Compare the terms, costs, and included services of each lease. Use these quotes to negotiate better terms with your preferred provider. 

Highlight Competitor Offers 

When negotiating, mention competitive offers to show that you are considering other options. Leasing companies may be willing to match or beat competitor prices to secure your business. 

Negotiate Flexibility 

Flexibility in a lease agreement can provide significant benefits, allowing you to adapt to changing business needs. 

Upgrade Options 

Negotiate for the ability to upgrade to newer models during the lease term. This ensures you can keep pace with technological advancements and changing business requirements without being locked into outdated equipment. 

Lease Renewal Terms 

Ensure that the lease renewal terms are clearly defined and offer flexibility. Avoid automatic renewal clauses that extend the lease term without explicit consent. 

If you are unsure about any aspect of the lease agreement, consider seeking professional advice. 

Legal Review 

Have a legal expert review the lease agreement to identify any potential pitfalls or unfavorable terms. This can help you avoid unexpected costs and complications down the line. 

Industry Consultants 

Consider hiring a consultant who specializes in office equipment leasing. They can provide valuable insights and negotiate on your behalf to secure better terms. 

Finalizing the Lease 

Once you have negotiated the terms, review the final lease agreement carefully before signing. 

Double-Check Details 

Ensure all negotiated terms are accurately reflected in the final agreement. Double-check the lease duration, monthly payments, maintenance and support terms, and any clauses related to upgrades, early termination, or renewal. 

Work with the leasing company to plan the delivery, installation, and setup of the copier. Ensure your team is trained on how to use the new equipment and that any necessary software integration is completed. 

Monitor and Manage the Lease 

Managing the lease effectively throughout its term can help you maximize its benefits. 

Regular Reviews 

Periodically review the lease terms and your copier usage. Ensure you are staying within print quotas and that the equipment continues to meet your business needs. 

Maintain open communication with the leasing company. Report any issues promptly and ensure regular maintenance is performed to keep the copier in optimal condition. 

Beyond all of these points, it’s essential you find a printer dealer you can trust, and a leasing agent you are comfortable with. 

One of the big challenges in leasing printers from a manufacturer is that they’re “servants to the conveyor belt” – they will always recommend their own products, and always push for the next box moving off the assembly line. We don’t work that way.  

Flex Technology Group is not focused on the one transaction – we build long-term relationships. We see the value of retaining you as a client today, five years from now, and beyond. We’re also brand-neutral, so we can compare one device from one manufacturer to another device with a different logo, and give you honest advice about which one is the best fit for your business. 

We have friendly, knowledgeable, ethical leasing experts that can configure your lease in a way that works for you. 

Reach out to us today – we’d love to answer your questions.