Leasing a copier can be a smart move for businesses looking to save on upfront costs while keeping up with the latest technology. But not all copier lease agreements are created equal. As an office system specialist at Tangerine Office Machines, I’ve seen businesses get stuck in unfavorable contracts because they overlooked key details. To help you avoid common pitfalls, here are five key features to look for when reviewing a copier lease agreement.
1. Lease Term and Payment Structure
The length of your lease agreement will determine how long you’re committed to the copier and how much you’ll pay over time. Copier leases typically run for 12, 24, 36, or even 60 months. While longer terms may offer lower monthly payments, they might not be the best option if you anticipate growing or upgrading soon. Make sure the lease term aligns with your business needs and budget.
2. Maintenance and Support Coverage
A copier lease isn’t just about the machine—it’s also about the service that comes with it. Many agreements include maintenance and support, but you need to check what’s actually covered. Does it include routine maintenance, repairs, and replacement parts? What about toner and other consumables? At Tangerine Office Machines, we always emphasize the importance of a strong service agreement to keep your copier running smoothly.
3. Upgrade and Early Termination Options
Technology evolves fast, and your business needs may change just as quickly. Check whether your lease agreement allows for equipment upgrades before the term ends. Some leases offer flexible options for upgrading to a newer model. Likewise, if you need to end the lease early, understand the penalties involved—some agreements have hefty termination fees that can add up quickly.
4. End-of-Lease Terms
What happens when your lease is up? This is a critical question to ask before signing. Some leases automatically renew unless you notify the provider in advance. Others may require you to return the copier at your own expense. Look for a lease that gives you clear options: return the copier, purchase it at fair market value, or upgrade to a new lease. Knowing your end-of-lease choices will prevent any unexpected surprises.
5. Total Cost of Ownership (TCO)
Leasing a copier may seem like a cost-effective choice, but it’s essential to consider the total cost over the lease term. Factor in monthly payments, service fees, overage charges for exceeding print limits, and any hidden costs. A transparent lease agreement should provide a breakdown of all potential expenses, so you can budget effectively and avoid unexpected fees.
Final Thoughts
A well-structured copier lease agreement should provide flexibility, support, and clear terms that align with your business goals. Before signing, take the time to read through the details, ask questions, and compare options. At Tangerine Office Machines, we’re here to help you find a copier lease that works for your business—not against it. If you have any questions or need guidance, reach out to us, and let’s find the best solution for your office needs!