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Avoiding Common Copier Lease Pitfalls: Tips for Business Owners

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In today's business climate, copiers are essential tools for businesses of all sizes.

Whether you're a small startup or a large corporation, having a reliable copier can streamline your document management processes and improve productivity.

However, leasing a copier can be a complex process, and many business owners fall into common pitfalls that can end up costing them time and money. In this article, we'll discuss some of the most common copier lease pitfalls and provide tips on how to avoid them.


1. Failing to Assess Your Needs

One of the biggest mistakes business owners make when leasing a copier is failing to assess their needs properly. Before signing any lease agreement, take the time to evaluate your company's printing and copying requirements. Consider factors such as;

  • The monthly volume of documents you need to print

  • The type of documents you typically produce

  • Any specific features you require, such as color printing or scanning capabilities

By understanding your needs upfront, you can avoid leasing a copier that doesn't meet your requirements or paying for features you don't need.


2. Not Understanding the Lease Terms

Leasing a copier involves entering into a legally binding contract, and it's essential to understand the terms of the lease before signing on the dotted line. Take the time to review the lease agreement carefully and make sure you understand all the terms and conditions, including the lease term, monthly payments, maintenance and service agreements, and any potential penalties for early termination. If you have any questions or concerns, don't hesitate to ask the copier company for clarification before proceeding.


3. Overlooking Total Cost of Ownership

When leasing a copier, it's essential to consider the total cost of ownership, not just the monthly lease payments. In addition to the lease payments, you may also be responsible for maintenance and service fees, toner and supplies, and any potential penalties or fees for exceeding usage limits. Before signing a lease agreement, make sure you understand all the costs associated with the copier, and factor them into your budgeting calculations. It's also a good idea to compare the total cost of leasing versus purchasing a copier outright to determine which option is more cost-effective for your business in the long run.


4. Choosing the Wrong Lease Term

Lease terms can vary widely, ranging from a few months to several years. It's crucial to choose a lease term that aligns with your business needs and budget. A shorter lease term may offer more flexibility but could result in higher monthly payments, while a longer lease term may offer lower monthly payments but could lock you into a contract for an extended period (note: the most common 'fair market value' lease term is 60 months). Consider factors such as your company's growth projections, technology advancements, and budget constraints when selecting a lease term to ensure it's the right fit for your business.


5. Skipping Maintenance and Service Agreements

Many copier lease agreements include maintenance and service agreements to ensure the copier remains in good working condition throughout the lease term. While it may be tempting to skip these agreements to save money, doing so can end up costing you more in the long run. Without regular maintenance and servicing, your copier is more likely to experience downtime and require costly repairs, which can disrupt your business operations and impact productivity. Invest in a comprehensive maintenance and service agreement to keep your copier running smoothly and avoid unexpected expenses.


6. Ignoring Exit Strategies

While leasing a copier can offer flexibility and cost savings, it's essential to consider your exit strategy before signing a lease agreement. Circumstances can change unexpectedly, and you may find yourself needing to upgrade or replace your copier before the end of the lease term. Before signing a lease agreement, make sure you understand the process for early termination and any potential penalties or fees involved. It's also a good idea to inquire about options for upgrading or exchanging your copier during the lease term to accommodate changing business needs.


7. Not Researching the Leasing Company

Finally, one of the most common pitfalls business owners encounter when leasing a copier is not thoroughly researching the company. Before entering into a lease agreement, take the time to research the company's reputation, experience, and customer service track record. Read reviews and testimonials from other customers, and don't hesitate to ask for references. Working with a reputable company can give you peace of mind and ensure a smooth leasing experience from start to finish.


In conclusion, leasing a copier can be a cost-effective and convenient option for businesses of all sizes, but it's essential to avoid common pitfalls that can end up costing you time and money. By assessing your needs, understanding the lease terms, considering the total cost of ownership, choosing the right lease term, investing in maintenance and service agreements, planning your exit strategy, and researching the company, you can make informed decisions and ensure a successful copier leasing experience for your business.


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