Border. Often, photocopier manufacturers offer promotions to make their photocopier rental more attractive than their competitors. Your dealer should inform you of discount programs. Every day, our phones, tablets and computers bombard us with mandatory conditions and agreements. If you`re like me, you`re probably going through these pesky hurdles without considering the details they contain. If I could give you one piece of advice on photocopier contracts, it would be this: Know what you sign before you sign! Organizations that choose to rent photocopiers do so primarily because they need a copier located outside or outside their head office and only need it for a short period of time. In this case, it would be prohibitive or too cumbersome to sign a lease or buy a copier directly for their short-term needs. This makes it easier for a company to afford a single copier or multiple machines. Like most leases, it will ultimately cost more than a direct purchase if the buyer keeps the copier for the duration of the lease. Be sure to check your copy rental agreement for shipping conditions. It is not uncommon for the tenant to be responsible for retrieving the shipping log card at the end of a lease, which could exceed $500. If a company wants to own (more or less) its photocopying equipment, it enters into a photocopier lease.
Here, a company can own a new or used copier by agreeing to set payments and a service contract (more on that later). 1. Annual Rate Increases – Most photocopier contracts can be divided into two parts: equipment and service. Depending on the concessionaire, a contract may include annual rate increases for both parties. Ten percent is a standard service increase, which takes into account the additional maintenance effort with the increasing age of a machine. But why pay more for your equipment as it ages? You shouldn`t. Especially considering that the rate is increasing from year to year. Let`s break it down.
If you pay $100/month in the first year, you will pay $110/month in the second year and $121/month in the third year. When the fifth year arrives, you pay $146/month – that`s almost 50% more than you paid when your equipment was new. But it doesn`t have to be this way: equipment price increases are at your dealer`s discretion. In other words, choose a dealer that doesn`t increase the price of your equipment. Additional insurance. Check your copy rental agreement for insurance supplements. Some lenders require your leased equipment to have insurance coverage. You may be able to avoid additional insurance if you can prove to the lender that your office insurance covers copiers. Whether you want to rent or own your photocopier, it is still advisable to sign a service contract. Service contracts bind you to a fixed monthly maintenance fee, which often includes toner replenishment and regular maintenance.
In most cases, these fees save companies money over the life of the machine. Automatic renewal. Automatic contract payments are not uncommon in a copier rental agreement and a tenant`s nightmare. As your lease expires, you must notify the finance company of your intention to return the equipment. As a small or medium-sized business owner, you may not be able to afford the latest photocopier. However, by dividing the cost into monthly payments over a few years, you can get a high-quality machine without depleting your savings. Also, if you need repairs to a purchased copier, you`ll have to pay out of pocket, while leasing companies include service and maintenance in their photocopier contracts. Remember, a good machine with poor service is just a bad machine, but a dealer with exceptional service can make an average machine exceptional. Owner. Although you get a copier through a photocopier rental company like Superior Office Systems, you finance the lease through a bank or other credit institution. Just like renting a car, your dealer will choose the lender called the lessor in the terms of the contract based on who offers favorable interest rates and who will most likely approve your loan.
Many companies enter into a photocopier lease to avoid spending thousands of dollars in advance to buy a high-end multifunction copier. When you sign a photocopier lease, you pay a monthly or quarterly fee for your copier over the term of a lease, which typically lasts three to five years. 5. End of contract – In an ideal world, you could cancel a contract once you find a better deal. In reality, equipment leases are binding financial arrangements, and most of them do not allow for an early return. What does that mean? To get out of a contract, you have to pay the balance of your future payments. .