Although the contract for leasing a copier might seem like a simple cut and dry deal it always best to read all the fine print. Some could include hidden costs, requirements or conditions that you need to account for or can be negotiated on. Here are four things to check before signing your lease.
Requirements at end of the copier lease.
Most leasing companies will require written notification as part of the requirements at the end of the lease within a certain period of time. Usually within 30-100 days out from the end of the lease. Otherwise they can extend the lease month to month, or several months up to 12.
Initial Doc Prep Fee.
This is usually charged to the first invoice and can range from $75 up to $200. Usually, its an easy negotiation point and you can simply ask it be taken out. Many times they’ll be expecting you to ask and will waive it.
If you have an office insurance policy, you may have the coverage needed for the new copier. However, most leasing companies will charge you for insurance if you don’t provide them with written documentation; the rider confirming coverage of the copier under the office insurance policy naming the leasing company as the loss payee. You’ll usually have to submit it to them within 30 days of receiving the first invoice.
Additional end of lease fees.
Your contract may make you responsible for getting the copier back to the leasing company. If so, you will have to pay for it’s return and depending on if it has to be shipped and how far this could cost you big. Also make sure you are covered if you lease company throws in extra fees for excessive wear and tear by taking video and pictures of the copier before returning it.