Copy That: Top Tips for Evaluating Copier Leasing Companies
Now that you’ve decided to lease a copier for your business, your next big decision awaits. Who are you going to choose out of all of the copier leasing companies out in the market? Deciding on the right provider involves more than just choosing what brand of copier you want and signing on the dotted line.
You’ll want to ask questions about service response times, local points of contact, and flexibility for unforeseen circumstances. No matter if it’s your first time leasing a copier or you’re in the market for a new supplier, this guide will help you narrow down the right company for your business needs.
Standard Terminology for Copier Leasing Companies
Like every industry, copier leasing companies have their own language that’s important for you to understand. You need to know who is who and what role they play in your copy machine lease agreement. The four key terms you need to be aware of are:
You are the client. On some agreements, you’re referred to as the Lessee. You’ll make decisions and work closely with the company when you lease a printer, copier, or scanner.
The manufacturer produces and distributes the equipment that you want to lease. They send the equipment to the dealer so that they can rent it to you.
This is a third-party company that finances the equipment. They also provide invoices on behalf of the dealer.
Do They Have Flexible Leasing Options
You want to select a company that can structure their leases to fit your needs. This may include lease terms, purchase options, and payments. Examples of flexible financing can consist of:
- Step leases for known changes in your business
- Special leases for seasonal businesses
- Special leases for business with budgetary constraints
- Invoicing consolidation and payment customization
- A lease structure that aligns with your financial and business objections
- Refinancing options
- Mid-term upgrade options to meet business and technology changes
- No early termination fees
It’s good to find a dealer that has several longstanding finance partnerships with multiple leasing companies. This increases the chances of your provider being flexible with their finance options.
Choosing the right provider can give you access to promotions, manufacturer programs, and flexible terms. If the details are worked out properly, then the arrangement should lead to a long and fruitful relationship.
Do They Offer 100% Financing?
The last thing you want to do is manage multiple invoices for your lease. Some providers will include services such as copier maintenance costs in your agreement.
It’s highly recommended that you bundle the maintenance and equipment costs into one invoice per month. Not only does it make it easier to budget for, but it’s simpler to track if any issues arise.
How Does The Service and Support Statistics Stack Up?
When something goes wrong, you want some assurance that your copier is going to be back up and running quickly. It’s important to learn the tenure of the service technicians.
The more experienced are, the higher the chance your issue can get resolved on the spot. Four questions that can help with your inquiry are:
- Do the technicians and trainers hold certifications on the products and services they offer?
- What are the average response times?
- What are your customer satisfaction statistics?
- Do you charge for additional training?
Do They Have a Local Point of Contact?
Having a partner who is in your area can make a difference to response times when questions and concerns arise. You don’t want to be conversing with a bot on a website to talk through how to turn the copier on and off. You need a personal touch who can talk you through queries about financing, billing, and any technical problems that pop up.
What Is the Turnover of the Leasing Team?
Tenured professionals will make a big difference to your leasing experience. When you speak to someone from the team, they should have most, if not all, of the answers to your questions.
You’re a busy person with your own business to run. You don’t have time to wait for someone to come back to you with the answers to your queries. It’s why longer-tenured team members can provide a better experience as they’re knowledgable when it comes to client concerns.
What End of Lease Options Do They Offer?
The most common type of lease terms is 36, 48, and 60 months. If you’re going to commit to a lease agreement for up to five years, then you want some assurance that you’re going to be supported for the full term of the contract.
When the contract comes to an end, you’ll get presented with some options for your copier. This can be included as part of the deal, or it can be discussed before the end of the lease term.
You can choose to upgrade to the latest technology that’s available. You can also decide to extend the term with the current agreement. Or you can choose to purchase the copier at Fair Market Value.
Signing a lease agreement is rarely a one-off transaction. The ideal situation is that there is a seamless transition to a new arrangement.
What Are the Advantages of Leasing Copiers?
For small businesses, owning a copy machine can be a financial burden. Not only does it require the company to find the initial funds to purchase the item, but there are also the costs of supplies and maintenance fees to consider.
Leasing a copier should provide not only benefits for your operations but also your bottom line. Some of the many benefits include:
Control Over Capital
Most small businesses don’t have unlimited capital at their disposal. It’s also smarter to invest in items for your business that appreciate over time. Whereas office technology only tends to lose value.
Avoiding big purchases like copiers allows your company to keep lines of credit available for other business requirements. As most leases include costs of supplies, this can help keep budgets under control.
Paying for a copier through a series of smaller payments enables you to arrange your financial resources more appropriately. If you were to purchase a copier, it would show as one large payment. It may require you to shuffle other funds around to compensate for the purchase.
To achieve the best payment flexibility, you should choose the length and terms of the agreement that best matches your budget constraints. Any changes to interest rates also do not affect the payment amounts.
Leasing a copier comes with tax benefits that you can’t get by purchasing a machine. If you buy a copier, you can only deduct the depreciation. This usually is 40% of the purchasing price for the first year and 25% for every subsequent year.
If you lease a copier, the payment is considered a pre-tax business expense. This means you can deduct the entire amount every time you make it.
Copier machines depreciate over time. It’s a sad fact. They lose value due to use over time and courtesy of the rapid evolution of technology.
If you buy a copier, the only way you can keep up with the pace is by purchasing a new machine. You also need to get rid of the older model collecting dust in the office. This not only eats into your productivity but adds unnecessary costs to your budget.
Lease agreements for copiers will often include an option to upgrade the copier at a predetermined date. This keeps your business up to date with the latest technology. As you continue to upgrade your equipment, you’ll notice improvements such as lower per-page costs and energy efficiencies that will help your bottom line.
How Can 1-800 Office Solutions Help?
In your search for copier leasing companies, you’re bound to stumble upon 1-800 Office Solutions. We’ve been servicing the New Orleans Metro area for over 50 years by keeping customers up to date with the latest office technology.
We offer machines that can fax, print, scan, and copy in color and black and white. They also ensure that the printing is of the highest grade of quality.
Contact 1-800 Office Solutions today for information on leasing, rentals, or purchases of new or second-class equipment. You’ll even receive an on offer on your existing equipment if you decide that you want to trade it in for a more modern multi-function printer.