Everything You Need to Know About Copier Leases: A Comprehensive Guide

Having access to a fast and reliable copier or multifunction printer (MFP) is a must for a modern business, as these machines can seriously enhance operational and administrative efficiency.

But some organisations may not have the necessary cash on hand to buy a quality copier outright. Others may want access to the latest and greatest copier, without the worry of servicing, maintenance, or having to sell your old one when the time comes to upgrade.

Good news: there is a way to invest in a quality copier or MFP, and enjoy the efficiency it can bring, without having to pay upfront, and without worrying about long-term upkeep or the need to sell your old machine: a copier lease.

What is a copier lease?

A copier lease is a contractual agreement that allows a business to gain access to a brand new copier or MFP, by paying a simple monthly fee over an agreed-upon timespan – typically a few years.

Copier leases are a popular option because they trade a large, one-time spend – often thousands of dollars – for manageable monthly payments spread over years. They also see maintenance and servicing handed over to a professional.

How does a copier lease work?

A copier lease works in much the same way as a car lease.

You choose a machine, which will usually be a new, high quality model. You then agree on the lease terms – the monthly payment you will pay and the time frame that you’ll pay that payment for. Most copier leases span two to five years, and the longer you commit to the lease, the lower the monthly fee will tend to be.

The lease agreement will stipulate the terms of the lease required by the lessor (the party leasing the equipment). The lease agreement will also require you have a service contract on the equipment to ensure it is maintained to supplier maintenance schedules. The service contract will cover call outs for breakdowns and supply toner. Day-to-day running costs, like power, paper, insurance and network maintenance, are the responsibility of the lessee (the party leasing the copier).

At the end of the lease period, you will be given the option to renew the lease, upgrade, or return the copier. If you choose to upgrade your machine, the lessor will take care of this switch for you. One of the biggest copier lease benefits is the access it gives you to the latest and greatest in multifunction printer technology.

In fact, some lease agreements include a provision for mid-lease equipment upgrades, allowing you to gain early access to a more advanced machine without breaking your lease agreement.

For businesses looking to enhance their printing capabilities without the hefty upfront costs, leasing can be an excellent solution. Discover more about the benefits and the simple process of leasing a printer from BDL Copiers

Benefits of leasing a Copier

Why choose to lease a copier rather than buy? A few of the most compelling copier lease benefits include:

• Preserve capital: Instead of forking out thousands of dollars upfront, you can convert that cost into affordable monthly payments, freeing up capital for other expenses or investments.

• Manage your budget: The fixed monthly payments of your copier lease allow you to budget with precision, as you won’t have to worry about cost fluctuations or surprise expenses.

• Get the best tech: Leasing grants you access to the latest and greatest copier technology, which can help you to seriously enhance the efficiency of your office.

• Access to support: Copier leases will stipulate you also take out a service contract to cover servicing and maintenance. The cost of this is separate to your lease payment and will be priced on a cents per page copied or printed rate. The service contract will cover call outs for breakdowns, scheduled servicing and supply of toner or ink at no extra cost. If you choose your provider wisely, you’ll also gain access to expert guidance on how best to use your machine.

• Enjoy flexibility: The duration of your lease is up to you. A shorter-term copier lease offers flexibility to businesses with changing requirements, while a longer-term lease can offer lower monthly payments.

• No more obsolescence: Leasing your copier means you don’t have to worry about being lumped with a piece of outdated equipment. At the end of your lease you can choose to exchange your old copier for a brand new one.

Understanding your copier lease agreement

It’s important to be familiar with a few key terms and clauses when you take out a copier lease agreement:

• Lease duration: Most copier lease agreements feature a fixed duration, generally between two and five years (24-60 months). Shorter leases offer greater flexibility, while longer leases offer lower monthly payments.
• Monthly payments: This is the price that you agree to pay for access to the copier. This is paid monthly, and is usually fixed for the duration of the lease.
• Servicing and maintenance: Most copier lease agreements include requirements for maintenance and servicing, which might be provided by the lessor or by a third-party. The specifics of this maintenance, including repairs and service response times, should be clearly outlined.
• Equipment upgrades: Some lease agreements allow you to upgrade your equipment before the end of the lease term.
• End-of-lease options: Depending on your lease, at the end of the lease term you may be given the opportunity to renew the lease for another term, to upgrade to a new piece of equipment on a new lease, or to return the copier and conclude the lease.
• Insurance requirements: You may be required to maintain insurance coverage for the leased copier equipment, to cover for potential damage or loss.
• Termination clause: There may be conditions under which either party can terminate the lease before the end of the agreement, normally you would need to payout the remaining amount of the contract in full.
• Ownership: The agreement will usually stipulate that the lessor retains ownership of the copier for the duration of the lease.

Exiting a lease early

Things can change quickly in the world of business. What if you sign up for a five year copier lease, then realise in year two or three that the machine or agreement no longer fits your needs?

As mentioned in the section above, your agreement may feature a termination clause that outlines conditions that may allow you to exit the lease early, as well as any fees that may be associated with this early termination.

Conclusion

The many benefits of copier leases – the lack of upfront investment, the consistent payment schedule, the servicing and support, the ability to upgrade – make them a popular option for modern businesses.

Now that you’ve gained a better understanding of copier leases, the next step is to find the right provider. Ideally you’ll want to secure a lease from a flexible provider with a proven track record, who deals in the highest quality machines, who delivers great support and offers the right prices.

At BDL we tick every one of those boxes. Get in touch with our expert team today to secure your ideal copier or multifunction printer on a lease that works for you.