Let's See What You Need

1. Do you need COLOR or BLACK AND WHITE?

2. What SIZES OF PAPER do you need to PRINT ON?

3. What TYPE OF DEVICE do you want?

4. What is your AVERAGE MONTHLY PRINT VOLUME?

Black & White
Color

Summary

{{ colorOrMono == 'mono' ? 'Black and White Only' : 'Color / Black and White' }}
{{ paperSize == 'letter_legal' ? 'Letter / Legal' : 'Letter / Legal / 11x17' }}
{{ deviceType == 'copier' ? 'Copy / Print / Scan' : 'Print Only' }}
Black & White: {{ monoPrints }}
Color: {{ colorPrints }}

Number of Months:

Lease Type:

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Getting Out of a Bad Copier Lease

Creepy-SalesGetting out of a copier lease is something that many people want to do.  Getting out of a copier lease can become difficult.  Why?  The copier lease is generally done through a bank, banks are good at collections – and they don’t necessarily want to give you a free ride.  So if you are stuck in a bad copier lease, what can you do?

Steps to consider if you are in a bad copier lease:

  • You can always try calling the bank or copier company and see if you can re-negotiate the lease.  More often than not, this will not lead you anywhere meaningful
  • You can see if sub-leasing is an option and then find someone willing to pay part of the bill.  It’s better to lose $200 a month than it is $500 a month.  The problem is you are not a copier sales rep, so you may have struggles getting the deal closed.
  • You can wrap in the old lease into the new lease, but generally if you do that you are just financing interest payments too, compounding the issue.
  1. Example:  Your copier lease is $500 a month and you have 2 years left on it.  So, that is $500X24 = $12000.  Wrapping this $12000 into the next copier (say the next copier is $175 per month ($8750 copier) – Now the $8750 needs to add on the $12000 to make the numbers add up – $20,750 ($415 per month) – So yes you can get a new copier with a lower payment, but you are paying $415 for 5 years rather than $175 for 5 years – meaning the $12,000 =$14400 after interest.  The problem just compounds.
  • Keep Paying off the copier and see if you could perform Kinko’s like services for business friends.  If you are paying $.07 per color sheet, advertise that you’ll do color for people for $.24 per page.  The $.17 per page – If you do just 1000 prints per month will equal $170 in the bank you can use to pay on the lease.
  • Write it off as a loss – This is what most people ultimately do
  • Declare bankruptcy – If all else fails, bankruptcy could be an option.  Obviously a silly one if you have a year left at $300 a month.  May be a better idea if you have 3 years left and 5 copiers at $300 a month.

Hope this helps, leases are legal contracts with a bank (generally), so they are certainly difficult to get out of with a lot of skill.  You can always have a lawyer look over your contract too… but if it is from a major bank, that is a waste of money generally as they have their own attorneys going over these details.