Copier Leasing

Buying a copier can be tricky, particularly when it comes to signing a lease. Here are a few of the things you should check before you sign on the dotted line:

1. Is your current insurance company going to insure your new, expensive piece of equipment? If they are, make sure you fill out the insurance waiver on your lease as soon as your receive your machine, otherwise you are likely to be charged by the leasing company for insurance—costing you about $50 per month for then entire term of the lease.

2. Make sure any pro-rated payments you make for the copier count towards the total number of payments owed.

3. Make sure that your lease gives you at least 30 days to make payment once you receive the bill each month. Often times leases only give companies ten days to pay (something which may even be impossible to do depending on the speed of the mail). The late fees can add up fast and may be substantial.

4. Many leases have a one-time documentation fee (usually about $50). There is absolutely no reason for you to have to pay this fee. Just ask your sales rep to get the fee waived for you.

Of course it goes without saying that you need not sign any paperwork that you don’t fully understand. If a section of the lease is confusing to you, ask for further explanation from your sales rep or consult your attorney.