Office equipment leasing is a great tool for people who need to acquire multiple pieces of office Commercial Copier/Printer/Scanner equipment without parting with large sums of money. Leasing office equipment costs significantly less up front than it would cost to purchase the equipment outright. You can put nothing down up front and still leave with the equipment you need.
Just as there would be fewer cars sold if not for automobile leasing, there would be less new office equipment sold if it was not office equipment leasing. Leasing may sound like a dream come true for those who qualify, but you have still have to treat it like a tool. Leasing has to be used in a certain way or else problems may arise.
The following section will describe the precautions you need to take in order to ensure an enjoyable leasing experience.
Office Equipment Leasing Done Right
Leasing office equipment is just like leasing anything else; you have to make payments on time or else you’ll be paying late fees. Having too many late payments not only means paying extra fees, it could mean not getting approved when applying for leases in the future. Treat your lease payments like a mortgage, and pay them on time.
When leasing a piece of office equipment, the onus is on you to notify the leasing company that your office has insurance. If you do not provide the leasing company with your insurance information, the company will end up charging you an additional insurance fee at a premium rate.
Letter of Intent
A little known fact about office equipment leasing is, when nearing the end of your lease, you have to send a letter to the leasing company. This is called a letter of intent, because in this letter you are to explain what you intend to do with the machine at the end of the lease. Your two options are: keep it or return it. If you decide to return the machine it must be done in a timely manner, or you will incur late fees.
Avoid Automatic Renewal
A pitfall many people who lease office equipment have fallen into is unintentionally having their lease renewed. If you don’t do anything at the end of a lease, such as sending a letter of intent as described in the section above, then it will be automatically renewed. This can turn a great leasing experience into a miserable one. Instead of being eligible for a new machine, you’re now stuck with another lease on the machine you’ve had for the past few years.
Let Dean Office Solutions Take Care of It
There are a lot of moving parts when it comes to office equipment leasing, and we can help manage them for you. As a courtesy for our customers, we’ll make sure you’re never stuck with an auto-renewed lease (unless that’s what you actually want).
As your lease approaches the end of its term, we will contact you with a reminder. This is also when we will learn what your intentions are — whether you want to keep the equipment or return it. Regardless of what you decide, we will contact the insurance agent for you to let them know what your plans are.
Office equipment leasing is a great tool for inexpensively moving in and out of equipment, as long as leasing is used in the proper way. The most important part of leasing the proper way is choosing the right company to deal with, and there’s no company more experienced with leasing than Dean Office Solutions.
To learn more about leasing office equipment, we invite you to contact us with any questions you may have. To help simplify the process, we offer free copier leasing quotes. If you’re currently in the middle or tail-end of a lease, we can discuss your options with a free copier lease audit.