Access to a capable copier or multifunction printer (MFP) is critical for any modern office that aims to be as efficient as possible.
But buying a copier outright represents a significant upfront investment that can stretch a business’s available capital. And like all technologies, these machines are evolving at an ever-faster rate – particularly in terms of digitising documents and linking to the cloud – so you don’t want to be stuck with an outdated machine.
But there is a better way.
Securing a new copier through a lease
Copier leases offer a compelling alternative to buying outright. A simple monthly payment grants you access to a high quality, high-tech machine while preserving capital and helping you to better manage your budget. They offer your business the flexibility to change and upgrade your machine when you need to, and the support to ensure it works as it should for the length of the lease term.
If you choose to lease a multifunction printer it’s important to understand the things to look out for and the considerations to make before you sign on the dotted line. But copier leases are unique agreements that many offices will only need to renew every few years. To help you out, let’s walk through a few of the major copier lease considerations.
Here’s what to look for when leasing a copier.
What to look for when leasing a copier: the top 5 factors
Factor 1: Alignment with your business needs
The first and most important piece of copier leasing advice is to ensure that whatever machine and lease you go with, it aligns with the needs, wants, goals and realities of your business.
Choosing a copier
Modern copiers are packed with a wealth of technology that could streamline your internal operations and generally make life easier for your office. They can digitise and organise documents, then send them straight to the cloud. They can automatically scan themselves for security threats and even repair themselves if they’re ever compromised.
Along with the bells and whistles, you’ll want to secure a printer that can print as much as you need, as quickly as you need, to the size and quality you need. Efficiency and cost-effectiveness should also be considered, as consumables like paper, toner and electricity generally won’t be covered by the lease.
So, before you even consider a copier lease, you should get an idea of your ideal machine. Keep in mind that a modern, high tech copier can be a transformative piece of equipment for an office – when it comes to the latest tech, you may not know what you’re currently missing out on!
Negotiating a lease
If you decide to lease, that lease also needs to align with your business needs. The lease duration is a good place to start.
Copier leases generally span three to five years:). A longer lease term is usually more cost-effective, and is ideal for a business that enjoys more stability, with the ability to upgrade equipment as the needs of the business change
There are a number of other things to consider when negotiating your copier lease, which we will investigate in more detail in the sections below.
Factor 2: Understanding the costs
Before you sign a copier lease you should have total clarity on the costs that your monthly lease payments do and don’t cover.
The monthly lease payments usually cover:
- Use of the machine for the duration of the lease term.
- Access to the necessary print driver software
- The servicing and maintenance of the machine is covered by the maintenance agreement and is usually charged by prints/copies made on the machine at the end of the month.
The monthly lease payments don’t usually cover:
- Consumables like toner, paper and electricity.
- Machine upgrades (although some leases may grant you access to a newer model partway through the lease term).
- Insurance for the printer, particularly against loss or accidental damage. Taking out insurance may be a stipulation of the lease agreement.
- Extra charges: overage fees for exceeding print limits, unplanned maintenance and emergency callout fees, early termination fees, etc.
For clarity on cost, you should work to calculate the total outlay of the printer over the duration of the lease term, both in terms of lease payments and extra costs.
Factor 3: Lease flexibility
Some copier leases are more flexible than others, though this flexibility tends to come at a price – a more rigid lease will tend to be cheaper. As such, your best copier lease option won’t necessarily be the most flexible one – it will be the one that is just flexible enough.
Copier lease flexibility comes in a number of forms:
- Lease duration: A shorter lease term will mean you aren’t locked in for the long haul should your circumstances change. At the end of the term you can renew or renegotiate the lease, or you can upgrade or return the machine.
- Ability to upgrade: Some copier leases have clauses that allow you to upgrade your machine partway through the term, which can help to ensure you always have access to the latest and greatest multifunction printer technology.
- Ability to terminate the agreement early: Some copier leases are easier to terminate early than others. Ultimately you can get out of any lease, but if your agreement has sky-high early termination fees, there may not be any point in exiting early.
If you describe the level of flexibility, you’re looking for with the copier lessor, they should be able to cater to your needs. Before you sign the lease, carefully read the terms and conditions to ensure the flexibility of the agreement aligns with your situation.
Factor 4: Service and maintenance inclusions
Most copier leases will require a service and maintenance agreement to be included with the lease agreement. The lessor retains ownership of the copier throughout the lease, and takes the machine back at the end of the lease, so it makes sense that they would want to keep the equipment maintained.
Some leases offer a deeper level of servicing and maintenance than others. Keep an eye out for limitations on servicing, and any fees that may apply if you exceed those limitations. In an ideal world you’ll be able to contact the lessor whenever an issue arises with your copier, without needing to worry about extra charges like emergency callout fees.
Factor 5: End-of-lease options
Your copier lease can end in four main ways:
- Renew: You renew your lease and retain access to the same machine. You will usually be able to renegotiate the lease terms as part of this process.
- Return: You return the copier and end the lease.
- Upgrade: You start a new lease with an upgraded machine.
Your available end-of-lease options will depend on the terms you agreed to.
Most copier leases will give you the option to renew, return or upgrade, but you should still read the fine print carefully to ensure that there are no surprise conditions or extra charges for doing so.
Final thoughts on business copier lease tips
When weighing up the best copier lease options for your business, the five copier lease considerations listed above should be front of mind:
- Make sure that the copier and the lease aligns with your business needs.
- Understand the total cost of the lease, including what is and isn’t included in the monthly lease payments.
- Consider how flexible you need your lease to be, and negotiate the lease terms based on that need.
- Clarify exactly what level of service, maintenance and support is covered by the lease agreement.
- Understand your end-of-lease options, and consider whether you’re more likely to renew, return or upgrade at the end of the term.
But there’s a sixth copier leasing consideration that in some ways is even more important than the five we’ve already mentioned: finding the right company to work with.
You should aim to secure a copier lease from a trusted provider with deep expertise and a proven track record. You should aim to work with a lessor who is flexible and adaptable, and who deals in the highest quality machines. You should aim to secure a lease from a team that delivers unmatched support, while offering reliable copiers at the right price.
In short, you should aim to work with BDL.
Get in touch with our expert team today to secure your ideal copier or multifunction printer on a lease that works for you.
