What to do After Signing a Bad Lease

Bankruptcy_SmallOh, No! I Signed a Bad Lease What Now?

Let’s say the shady sales rep at a company rushed you into signing a copier lease that did not work in your favor. What do you do? First, you have to understand that copier leases are extraordinarily hard to break because you have signed a contract. Once you have signed it, you are at the mercy of the company for 36 to 60 months, whether they are good or bad. This is why you have to put some thought into signing a lease.

While you may not be able to break the lease contract, you can avoid further trouble by avoiding the auto-renewal clause. You will find this in every standard lease. What does it say? If you fail to give a written notice to your leasing company within a certain number of days (usually between 60 to 180 days), your lease will automatically be extended up to another year. A lot of leasing companies make thousands of extra dollars on this clause. An extra year with a bad lease can break your business.

Finally, look for loopholes in the lease that will allow you to break them. In rare cases, you can break a nightmarish copier lease, but it is very difficult. In most situations, the best that you can do is to avoid further damage with the auto-renewal clause and learn from the mistake.