Leasing A Copier in 2020? Use This Trick to Save Around $815
What Is a Lease Rate Ladder?
As you’re looking at the copier lease rate, have you gotten a rate from the company? Do you understand what the 3, 4, or 5-year costs will be? If there are breakpoints in dollar amounts where you’ll get a better lease rate, are you close to this number?
You are looking at a $3,000 copier with an extra tray and installation.
If you were to buy this small copier for $3,001 for a 4-year lease, the monthly Fair Market Value cost would be approximately $74.
If you paid $2,999 for the same copier, the bank would charge $91 for a four year Fair Market Value lease.
That means you would pay an extra $815 for spending $2 less. This is the same timeframe and the same type of lease.
Why Does The Math Work Like This?
A little known secret about copier leases is that they have stepping mechanisms where you can get a dramatically lower monthly rate if you spend a specific dollar amount.
You will want to ask if there’s just one lease rate for any dollar amount or if the unit’s total cost varies. If the total cost of the unit has a factor, ask where these breakpoints are.
Sometimes, you may be close, within $200, of the next level. You could get install services for $200 and qualify for the next step on the pricing ladder, which will get you a much better rate.
The Copier Leasing World Doesn’t Always Make Sense, But Use This Trick to Make It Work To Your Advantage
These weird situations exist in the copier lease world. To make sure you’re not losing a bunch of money each month, you’ll need to ask questions about their leasing rate ladders.
When you take advantage of this little quirk, you can pay a couple of extra dollars up front to save yourself hundreds of dollars in the long run.