Several factors must be considered when buying or leasing a copier, and this article aims to give you a guide on how to take advantage of your offer. This will also help you decide how you are going to pay for the next office machine.
As a copier vendor, we have learned that copier leasing service is the most efficient way of paying for a copy machine. However, customers usually do not fully comprehend what they have to do before getting into a lease. Remember, you do not want to be in a contract that you cannot take advantage of because, in the end, it will only waste your money and your time. So it is very important to find one that is perfect for you, your needs, and your budget.
What is a Copier Lease?
A lease works the same way as all other leases (like a car or house lease). You are bound to pay a monthly fee for an agreed period of time for the copier machine that you want to own. Breaking down the copier cost into small monthly payments instead of paying the whole amount upfront made this payment option popular among consumers. However, there are various types of agreements that you can choose to be on, and it is very necessary to be aware of the many options that you have before finally deciding the right payment option for you.
Three Most Popular Types of Lease Agreements
| Lease Type | Full Name / Alternative Name | End-of-Term Obligation | Advantage / Best For |
| 1. FMV | Fair Market Value (Operating Lease) | You are not obliged to buy the machine. | Offers maximum flexibility and the most affordable monthly payments. |
| 2. IPA | Installment Purchase Agreement | You must buy the machine within the agreed term. | Best for companies that can afford to buy in full but prefer monthly increments. |
| 3. FPO | Fixed Purchase Option ($1 Buyout / Capital Lease) | You are presented with a choice to purchase at a pre-determined, fixed price. | Ideal for those who want to own the machine at the end of the term. |
Details on Lease Types
- FMV (Fair Market Value): This lease agreement will have you purchase the copier machine you are wanting to lease based on its fair market value at the end of your term. The most prominent advantage of this option is that you will have the flexibility to buy the copier machine without committing to full ownership.
- IPA (Installment Purchase): This is most often used by customers who are looking to buy the machine in cash but prefer vendors who offer installment schemes over time instead of having to cash out upfront.
- FPO (Fixed Purchase Option): This is also known as a dollar buyout or capital lease. You are presented with a choice to purchase the machine after the last fixed-price payment is given to the vendor, as agreed before signing.
What Happens at the End of a Copier Lease?
Because you have already understood the kinds of leases available, it is now essential to pay attention to the agreement after the lease term. Always remember to check the agreement’s wording purposefully because there are vendors whose agreement terms confuse their clients.
| Detail to Check | Required Clarity |
| Notice Period | Pay attention to 30 days and 90 days before the notice periods. |
| End Terms | Check special agreements like buyouts at the end of the term. |
| Agreement Wording | Make sure the language clarifies whether renewal is automatic. |
How to Get Out of a Copier Lease
As soon as you have your lease agreement signed, you have automatically entered into a contract for a specified length of time. There are particular ways that you could get out of the agreement, especially when your terms are not met.
- Pay the lease amount (the simplest, but costliest).
- Do it by lease transfer (finding a new business to take over the remainder).
- Review the cancellation condition (if terms were breached).
- Make negotiations with your provider for a possible early termination.
- Check your assumption clause in the agreement.
If you think you are caught up in a copier lease agreement that does not benefit you or your work, do not ever think that you cannot get out of the contract. You just need to make yourself aware of the lease agreement and the terms specified in it. Carefully evaluate your work condition and make sure that the terms are meeting your needs.
If you plan to get copiers for your office in Charlotte, you can opt to buy copiers or lease copiers in Charlotte. Charlotte Copier solutions provide the best value.
If you plan to get copiers for your office in Charlotte, you can buy copiers or lease copiers in Charlotte. We can give you options for getting the copy machine that you want. You can contact our local copier leasing services department in your location.
For all services in Charlotte, call Clear Choice Technical Services:
- Phone: (704) 266-3866
- Our personnel for copier leasing in Charlotte will assist you. If you are ready to start the process, request a quote today.
For dedicated Copier Repair Services in Charlotte, please visit our Repair Services Website for immediate assistance. Our network is powered by Clear Choice Technical Services.
