If you are in the market for a copier, you may have wondered if you should buy a copier or lease a copier. If you choose to lease a copier, how long is that lease have you tied in for?
This can be an answer which is not simply a one sized fits all. There are different leases, and different types of leases. These different leases lock you into varying durations on your copier lease.
Some Standard Lease Lengths:
- 1 Year
- 2 Years
- 3 Years
- 4 Years
- 5 Years
The most common lease length is 5 years. Then there is also the question of what kind of lease do you need? If you want to return the copier after 5 years (and then upgrade,) you would go with a 5 Year FMV lease. The FMV means the bank would require you to pay what they believe the fair market price is at the end of the lease if you want to keep the old copier.
Option B, which has a higher per month cost, is to do a $1 Buyout, which means you pay a dollar at the end of the lease and it is yours. Beware of lease companies who try and charge the old amount claiming you haven’t formally cancelled your lease agreement. That is what we would tend to call a petty fee with the only good really going to the dealer.
If you need a copier in the USA, we can help and even provide service. We will make sure you are the hero for finding a way not to pay crazy high prices online.