Copier leases can be tricky, and leasing a copier in Boston can be even trickier than in small cities. Why? There are individuals out there with nefarious intentions and it is hard for word of mouth to get these dealers out of the system. If you are going to lease a copier, there are a few things you should know.
- Lease rates – A lease rate is the factor leasing companies use to determine your monthly payment for the equipment. A typical lease rate for a 5 year copier lease is .024. What this means is that if you get a lease cost on the equipment only and say it’s $210 per month, the equipment cost $210/.022 = $9,545 (notice $210 X 60 = $12,600 which is what the leasing company will collect for an $9,545 piece of equipment, plus you have to give it back to them!)
- Leases require that you pay for shipping to return the copier
- Leases require you give notice for returning the equipment, generally 30 to 90 days before the end of the copier lease term.
With these disadvantages, why lease at all? The main reason, of course, has to do with taxes and cash flow. Speak with your accounting department to make sure a copier lease makes sense for you and if you need a copier, either by leasing or just an outright purchase here in Boston, please give us a call!