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Copier on a Lease Program

Posted by Joann Simmmons on
Copier on a Lease Program

Getting a Copier on a Lease Program: A Comprehensive Guide

Businesses that require heavy printing and copying often face a dilemma – buy printers and copiers outright, which represents a major upfront capital expenditure, or lease them over time. Leasing office equipment like copiers has become an increasingly popular option for many organizations.

Leasing provides the benefits of getting the latest equipment while avoiding a large one-time purchase cost. Payments are made on a monthly basis, turning the cost into a predictable operating expense rather than major capital outlay. There are many advantages to leasing over buying copiers and printers.

copier-lease

Benefits of Leasing a Copier

Here are some of the top benefits of leasing instead of buying a copy machine or printer:

Lower Upfront Costs

With a lease, you avoid the large upfront expenditure of buying the equipment. Instead, you make regular monthly payments for use of the machine. This helps conserve working capital and liquidity.

Access to Newer Technology

Leases allow you to regularly upgrade to new equipment with the latest features and capabilities. This can be done as often as every 3-5 years. Buying printers ties you to older technology until the equipment is fully depreciated.

Predictable Budgeting

Leasing makes the cost a fixed operating expense that can be forecasted. This allows better financial planning compared to owning printers and dealing with repair and maintenance costs.

Improved Efficiency

Newer printer and copier models are faster, more reliable, and have lower operating costs. This can save time and money through improved workflow.

Flexibility

Lease terms can align with business needs. At the end of the lease, you can upgrade, return, or buy the equipment based on requirements.

Convenience

Leasing includes maintenance and servicing as part of the contract. The leasing company handles any repairs needed.

Tax Advantages

Lease payments can qualify as a tax deductible operating expense. This creates potential tax savings compared to depreciation of an owned asset.

Drawbacks of Copier Leases

While leasing has many positives, there are also some potential downsides to consider:

Higher Long Term Costs

Cumulative lease payments over multiple years may end up costing more than buying the printer outright. However, you must factor in maintenance costs and depreciation for an owned asset.

Lack of Ownership

With leases, you will never own the equipment and have to return it at the end of the term. However, ownership comes with disposal responsibilities.

Limitations on Usage

Most lease agreements limit the volume of copies or prints per month. Exceeding those limits results in overage fees.

Lock In Period

Lease agreements commit you to using the equipment for the entire term, usually 3-5 years. This reduces flexibility compared to owning the printer.

Potential Penalties

You may face early termination or equipment return fees for not completing the full lease period. Make sure to review these costs when signing.

Supply Requirements

Many lease contracts require using OEM brand toner cartridges and supplies, which cost more than third party consumables.

Carefully weighing the pros and cons allows an informed decision about whether leasing or buying office equipment is the better choice.

Steps to Lease a Copier

If you decide that leasing makes sense for your business, here is an overview of the process:

1. Evaluate Printing Requirements

Analyze your monthly copying and printing volumes, workflow, and feature needs. This determines the ideal equipment capabilities and capacity required. Consider current and future growth projections.

2. Research Vendors

Search for reputable office equipment leasing companies in your region. Ask other businesses for referrals. Compare options from several providers.

3. Obtain Quotes

Have vendors evaluate your space and usage requirements. Request detailed lease quotes for different printer and copier models. Make sure quotes include all fees and conditions.

4. Review Contract Terms

Scrutinize the lease terms and conditions closely. Be aware of the length, monthly cost, overage rates, maintenance, supplies, termination clauses, and return conditions.

5. Choose Equipment and Vendor

Select the most beneficial lease option for an appropriate equipment model from a trusted, responsive vendor. Prioritize your needs and budget.

6. Finalize Agreement

Negotiate any desired changes to the lease agreement. Obtain approvals from stakeholders. Have legal counsel review the contract before signing.

7. Schedule Delivery and Setup

Work with the leasing provider to deliver and install the equipment. Ask about initial training and materials to get started.

8. Process Lease Payments

Pay monthly invoices on time. Stay on top of lease periods, renewal options, and budget forecasting. Have an exit strategy as the end of term approaches.

9. Manage Supplies and Maintenance

Follow lease requirements for toner and parts. Place service calls as needed. Keep copiers well maintained to avoid disruptions.

Leasing a copier requires more upfront research than buying, but the convenience and financial benefits often make it an attractive option for businesses with significant printing needs.

Key Lease Agreement Terms

It is critical to understand the key provisions in a copier lease agreement before signing:

  • Lease Term – The duration of the lease, typically 3-5 years. Make sure it aligns with your expected usage period.
  • Monthly Payment – The recurring amount due each month, along with any initial down payment. Verify taxes and fees are included.
  • Usage Limits – The maximum number of copies or prints per month before overage charges. Pick a level above your current and expected usage.
  • Maintenance & Repairs – Confirm whether service and parts are included. Understand response times for repair calls.
  • Supplies & Toner – Check if OEM brand consumables are required. Factor in these ongoing costs.
  • Insurance Requirements – Some leases mandate insuring the equipment. See if it overlaps with existing policies.
  • Delivery & Installation – Make sure the lease covers these costs including deinstalling old equipment.
  • Training – Find out if initial training on using the devices is part of the lease.
  • Termination & Renewal Clauses – Understand any penalties for early cancellation and options to extend the lease or upgrade equipment.

Having a thorough awareness of these key lease provisions allows you to negotiate a favorable agreement and avoid surprises down the road. Be sure to analyze the fine print!

Steps for Successful Copier Leasing

Follow these best practices during and after signing a copier lease to maximize value and avoid issues:

1. DesignateEquipment Administrator

Assign an employee to be the primary contact for the leased copiers. They can coordinate maintenance, supply orders, and usage monitoring.

2. Track Print Volume

Use software or features in the equipment to monitor monthly print and copy volumes. Watch for spikes indicating wasteful use.

3. Purchase Approved Supplies

Only use manufacturer approved toner cartridges and parts to avoid violations and extra costs. Set up reoccurring supply deliveries.

4. Schedule Preventative Maintenance

Stay ahead of problems by having technicians perform inspections and servicing per vendor recommendations.

5. Train Employees

Ensure employees understand proper equipment operation, printing procedures, and how to resolve issues.

6. Update Print Policies

Implement rules on printing limits, color usage, personal jobs, paper conservation, etc. to reduce waste.

7. Monitor Lease Expiration

Diarize renewal and termination dates. Decide whether to extend lease or return equipment timely.

8. Test New Models

When renewing leases, bring in demo units from vendors to evaluate the latest technology.

9. Negotiate Upgrades

Leverage being an existing customer to negotiate lease renewals or upgraded machines.

Following best practices helps maximize the ROI of a copier lease by avoiding avoidable fees and expenses.

Transitioning from Purchasing to Leasing

For companies switching from buying printers to leasing:

Evaluate Existing Equipment

Assess the age, condition, and capabilities of current machines. This helps determine if replacement is needed versus continued use.

Plan Transition Timeline

Allow sufficient time to test new copiers, dismantle old ones, and train employees on different models to minimize productivity disruption.

Review Supply Inventory

Take stock of unused OEM and third party consumable inventory. Some may be transferable to new leased equipment.

Understand Depreciation Impact

Consider the tax and accounting effects from discontinuing depreciation on owned equipment in favor of leased assets.

Negotiate Buyouts

See if the leasing provider offers trade-in credit or buyouts of existing printer and copier inventory as part of the new agreement.

Standardize Models

Consolidate on one leased copier provider and select similar models for easier management and bulk supplies orders.

With planning, shifting to leasing copiers can be a smooth transition that provides immediate benefits over purchasing equipment.

Exit Strategy for End of Lease

As you approach the final months of a copier lease:

Reassess Needs

Evaluate if current equipment is still adequate in terms of functionality, capacity, and usage. Consider changes since the lease began.

Explore New Equipment

Research the latest printer and copier models and capabilities. Identify ones that may better meet revised needs.

Negotiate Renewal

Work with the leasing company to extend the term on existing or upgraded equipment at favorable rates.

Return Equipment

If terminating the lease, follow procedures to properly remove, pack and return old copiers per the agreement.

Buy Out Option

Ask about the cost to purchase your leased equipment if it still meets business requirements. Compare to newer lease proposals.

Switch Providers

Consider competitively bidding the lease renewal with other vendors to get the best market rates.

With some foresight, you can smoothly transition to a new lease, buy out existing hardware, or terminate an agreement without disruption.

Key Takeaways

Here are the major points to remember when leasing a copy machine:

  • Leasing often provides financial, operational and tax advantages compared to buying
  • Conduct detailed needs analysis and get quotes from multiple vendors
  • Carefully review all lease terms and negotiate changes before signing
  • Manage usage volume, supplies, maintenance to avoid excess fees
  • Have a transition plan as the lease expiry approaches

Following this guide will help maximize the benefits of leasing and avoid pitfalls. Leasing enables more flexible access to the latest equipment innovations while managing printing as an operating expense rather than major capital investment.

Main

Who’s the Best Copier Leasing Companies That You Can Trust?

Posted by Joann Simmmons on

Who’s the Best Copier Leasing Companies That You Can Trust?

Founded in 1992, Great America is predicated in Cedar Rapids, Iowa. In 2009, they surpassed over $1 billion in property and have a variety of leasing programs. They are a popular leasing firm with many licensed copier sellers. In phrases of reaching desirable total copier costs for my new business and providing me with wonderful technical help on our desired printing capabilities.

copy machine leasing

Bryan Ammons is the President and Owner of Standard Office Systems of Atlanta where he began his profession as an element-time employee in 1973. SOS is a number one supplier of office technology together with managed IT providers, copiers, printers, and enterprise phone methods. Bryan has served on the board of the Copier Dealers Association for eleven years, together with two as President. Additional, he served on the Dealer Advisory Councils of HP, Ricoh, Sharp, US Bank, and Great America Leasing.

If you don’t reach the monetary necessities of business-based applications, try consulting together with your supplier for an in-house leasing program. Going for a lease program from an area firm or manufacturer additionally helps you promote the local economic system whereas buying a copy machine at a fantastic price. Most of those companies have current relationships with workplace technology firms (copy machine sellers) so you can access their financing rates, terms and plans. Wells Fargo supplies equipment leasing via distributors. Aside from submitting your details, Wells Fargo may require details in your earnings, earnings, and losses, and tax returns.

Less paperwork – Buying a copier is relatively straightforward. Read more about printer sales here. Leasing entails software course of and providing the leasing firm with detailed financial data.

———– Click a Copier Product for Details & Quotes ———–

copy machine leasing

  • When you lease a copier from us, we become a part of your staff.
  • Whether you’re a startup, small enterprise, or established enterprise company.
  • Flat rate Copier is truly your one prime shop when it comes to office print options, print administration and print circulate, copy machine rent, and lease copier machines.
  • As an example, pretend you are evaluating the general costs of two machines that can every meet your small business needs.
  • While typical monthly charges for a photocopy machine lease are around $one hundred fifty-$500, there is no cookie-cutter answer for all companies because of the many various needs and options obtainable.
  • You can lease a printer/copier within the conventional sense, however throughout the final decade, the idea of leasing has morphed into what industry consultants check with as managed print companies.
  • JR Copier Company is an authorized dealer for copy machine leasing in Minnesota since 1983.

copy machine leasing

With the Apps that are available on the Xerox Altalink and Xerox Versalink copiers, we will present you not just a nice deal on a copier lease, however tips on how to improve your effectivity in the office. Owning a replica machine can be a financial burden for a lot of small companies. Aside from supply costs and maintanence fees, coming up with the preliminary capital to purchase the copier can stretch operational budgets past profitable limits. Copy machine leasing helps ease the up-entrance monetary funding and may present numerous other attractive advantages. Whatever your organization’s dimension, and regardless of the extent of your copying or printing needs, we’ll help you find the proper workplace copier for you—and the group to help you choose it!

Read more about copy machine leasing here. It’s important to take all of those questions into consideration earlier than agreeing to a copier machine lease to ensure that you could have carried out your diligence. It just isn’t an extra expense for the enterprise however will save your small business both down time and money. Our copier lease settlement comes with full manufacturing unit backed guarantee, free on-site supply and connectivity. Your financing option comes with a service contract that include all service, provides at a low price per print. Innovative options on new model Ricoh’s include – WiFi connectivity, cellular printing, tablet-like touchscreens and cloud-connected apps.

 

Benefits of Leasing – Why Lease Your Next Copy Machine

Take a have a look at some of the finest methods we qualify a great copy machine leasing firm, regardless of the business or size of your small business. LEAF Commercial Capital Inc. offers financing, leasing, and note origination servicing. LEAF offers versatile financing choices for workplace merchandise, medical, industrial, and expertise tools. At AIS, we imagine that each client has unique wants.

Consumer

Buying vs. Leasing A Copier

Posted by Joann Simmmons on

When the time comes for a brand-new copier, you can choose whether to purchase it or lease it over time with smaller sized payments.

We answer many concerns from customers who are attempting to choose which alternative is best for their company. When making that choice, you desire a precise understanding of the benefits of renting vs. purchasing your next copier in order to make educated decisions and take benefit of special offers. Every company is special in their choice and ought to have a clear strategic direction of lease vs. purchase for their technology choices.

Our Leasing Team has discovered a lot over their 55 years of combined industry experience and has actually helped our clients find options that work with their financial and service objectives. They’ve seen it all in the copier leasing world, and can assist you decide what is finest for your business.

4 Advantages to Leasing vs Buying a Copier:

1. Reduced Taxes
Did you understand that you can lease equipment and still make the most of the Section 179 deduction? If you lease a piece of qualifying equipment with an ensured purchase alternative, you can subtract the full purchase rate as much as $510,000 from your gross earnings.

The obvious benefit to leasing or funding your copier and after that taking the Section 179 Deduction is the fact that you can deduct the complete quantity of the equipment, without paying the total this year. The amount you save in taxes can really surpass the payments, making this a very fundamental friendly deduction and thus in many cases, the tax reduction will actually improve capital.

2. Capital Conservation
Paying the purchase cost upfront for brand-new technology can include a substantial money expense. Leasing can free up that cash for other purposes. Regular monthly payments that are structured to accommodate capital requirements permit the acquisition of the current innovation today.

General Rule: Lease what depreciates; purchase what values.

3. Fixed Payments
With a copier lease, payments are repaired for the entire term of the lease. Knowing what payments to anticipate in advance allows you to budget and manage your innovation equipment expenses. If you buy and your devices breaks down, updating or changing it might need paying a big amount unexpectedly.

4. Reduce of Adding Equipment or Upgrading
Leasing can permit add-ons after the lease begins so you are not locked into one configuration like you are when you acquire a copier. Let’s state you require to add a staple finisher or require more speed. The ideal partner can offer you a favorable buyout if you require to upgrade or replace your copier.

Is it time for new devices for your company?

When making that choice, you want a precise understanding of the benefits of leasing vs. purchasing your next copier in order to make informed decisions and take advantage of unique deals. Every company is special in their option and should have a clear tactical direction of lease vs. buy for their innovation choices.

With a copier lease, payments are repaired for the whole term of the lease. Leasing can allow for add-ons after the lease begins so you are not locked into one configuration like you are when you acquire a copier. The best partner can provide you a beneficial buyout if you require to upgrade or change your copier.