This guide is for office managers, controllers and CFOs whose copier or multifunction printer is financed by GreatAmerica Financial Services and whose agreement is nearing its end. If your invoices come from GreatAmerica or point you to AccountServicing.com, this is for you.
We built it from GreatAmerica’s own website and articles, its billing site’s FAQ, and a sample GreatAmerica copier invoice published by a dealer. Your agreement is the final word, so we also show you which clauses to read.
Who GreatAmerica is
GreatAmerica Financial Services Corporation is based in Cedar Rapids, Iowa, and describes itself as an independent, family-owned business. It finances equipment through several channels, and Office Imaging is one of them. Its office equipment financing page displays logos of manufacturers including Kyocera, Sharp and Toshiba, along with independent office equipment dealers.
Like most copier lessors, GreatAmerica usually works through your dealer. The dealer sells and services the machine. GreatAmerica holds the agreement and bills you.
Billing and account service run through AccountServicing.com. GreatAmerica’s website links its “Customer Service” button there, and a sample GreatAmerica copier invoice directs customers to AccountServicing.com for questions. That site asks you to check your agreement number on your invoice to find the right login.
How lease end usually works with GreatAmerica
GreatAmerica offers several options at the end of the term. On fair market value (FMV) and fixed purchase option leases, it lists four: upgrade, buyout, renewal and return. Contacting GreatAmerica through its customer service site early is the easiest way to confirm your options.
GreatAmerica also offers several agreement types: FMV leases, $1 buyout leases, fixed purchase option leases, rental agreements and finance agreements. What happens at the end depends on which one you signed, so check the title and the purchase option section on page one of your agreement first.
Notice
In an article written for its dealer partners, GreatAmerica says that on a standard FMV lease it tells the customer on the last regular term invoice that the term has ended and it is time to pick an end-of-term option. The article does not give a number of days of notice for customers to provide.
We could not find a publicly posted GreatAmerica agreement that showed its notice clause, so we cannot tell you the window in your contract. Read the section of your agreement that covers the end of the term, renewal or notice. Write down how many days of notice it asks for, whether notice must be in writing, and the address it should go to. Starting early, before the final invoice arrives, gives you the most room to compare options.
Renewal and month-to-month terms
GreatAmerica lists renewal as one of the end-of-term options on FMV and fixed purchase option leases. Its lease types article says an FMV customer can move into month-to-month renewal payments. For rental agreements, GreatAmerica says that if no option is chosen by the end of the initial term, the agreement continues on a month-to-month basis until GreatAmerica receives other instructions from you or your dealer.
Buying the equipment
GreatAmerica describes a “buyout to keep” quote for FMV leases. The quote is valid for 30 days, and once it is paid the account closes and you own the equipment. When you request the quote, ask what the figure includes so you can compare it with your other options.
On a $1 buyout lease, GreatAmerica says the customer owns the equipment at the end of the term and billing stops after the last scheduled payment. A fixed purchase option lease has a set end-of-term price stated in the agreement.
Returning the equipment
To return equipment on an FMV lease, GreatAmerica says you request a return quote, which it calls a “buyout to return.” The quote is valid for 30 days. The equipment and its attachments then go to the remarketer GreatAmerica names when it issues the quote, and the account closes once receipt is verified.
GreatAmerica says it lets the dealer know when a customer asks for a buyout or return quote.
Questions about your invoice
Depending on your agreement, invoices can include items like property tax or insurance. GreatAmerica’s customer portal or customer service can explain each line.
Protect your data before any return
Whatever you decide, plan for the data on the device before it leaves your office. This step applies to any copier return, with any lessor. Many copiers and multifunction printers store data on a hard drive or other internal storage.
- Plan drive wiping or removal with your dealer or IT team before the machine is picked up.
- Ask for confirmation in writing that the work was done.
- Follow the FTC’s guidance on copier data security. It suggests checking your agreement for hard drive terms and having a qualified technician handle the drive instead of removing it yourself.
Your 120-90-60 day checklist
- 120 days out: find your paperwork. Locate the signed agreement, equipment list and a recent invoice. Note the agreement number, agreement type, start date and term.
- 120 days out: read the key clauses. Find the end-of-term, renewal, notice, purchase option and return sections. Put the real notice deadline on your calendar.
- 110 days out: log in. Use your invoice to reach the right AccountServicing.com login and confirm the billing contact and equipment location are current.
- 100 days out: request quotes. Ask for a buyout quote, a return quote, or both. Each is valid for 30 days, so time a second request if you need fresh numbers.
- Before your notice deadline: send written notice. Follow the method in your agreement, include your agreement number, and keep proof of delivery.
- 60 days out: plan data removal. Ask your dealer or IT team to wipe or remove the hard drive before the device leaves your office, and ask for written confirmation.
- 45 days out: arrange the return. Get the remarketer’s address from your return quote, book de-installation and freight, and record meter readings and photos.
- After return: close it out. Keep tracking numbers and confirm the account closes after receipt is verified.
Upgrading instead of returning
GreatAmerica lists upgrade as one of the end-of-term options for FMV leases, and says the dealer requests an upgrade quote from GreatAmerica. An upgrade can make sense if your print volume, security needs or device count has changed.
A partner dealer can review your options, including whether an upgrade, a new lease or a return fits your office. Keep your current notice deadline in view while you compare. Starting a new agreement does not by itself close the old one.
Frequently asked questions
What is AccountServicing.com, and is it part of GreatAmerica?
It is the billing and customer service site that GreatAmerica’s website links to for customer service, and a sample GreatAmerica invoice sends customers there with questions. It covers payments, invoice copies, agreement copies and changes to contact details.
Does GreatAmerica tell me when my lease is ending?
GreatAmerica says that on a standard FMV lease it notifies the customer on the last regular term invoice. Your agreement may ask you to give notice before that point, so read your end-of-term clause and plan ahead rather than relying on the invoice alone.
How do I return a copier to GreatAmerica?
Request a return quote. GreatAmerica says the equipment and attachments go to the remarketer named in that quote, and the account closes once receipt is verified. Check your agreement’s return section for any other requirements, and plan your data removal first.
Does a dealer pickup close my GreatAmerica agreement?
According to the AccountServicing.com FAQ, an agreement can only be changed, ended or paid off through a document signed by both parties. If your dealer is picking up the equipment, confirm the return or payoff with GreatAmerica in writing as well.
How do I ask about a line on my GreatAmerica invoice?
Depending on your agreement, invoices can include items like property tax or insurance. GreatAmerica’s customer portal or customer service can explain each line. Have your agreement number from the invoice ready when you reach out.
Let us help you check your lease
Before your notice date passes, run your details through our free Lease End Check at https://1800officesolutions.com/lease-end-check/ to see your dates and options in one place. If you want to compare replacement equipment, request a commercial copier lease quote at https://1800officesolutions.com/commercial-copier-lease-quote/ and a partner dealer will review your options.
For account questions, contact GreatAmerica through its website (https://www.greatamerica.com/) or the billing site at https://www.accountservicing.com/.
1-800 Office Solutions is not affiliated with GreatAmerica Financial Services. This guide is general information, not legal advice. Your lease agreement controls.