You are currently viewing Equipment Leasing Common Mistakes: Avoid Committing All Of Them

Equipment Leasing Common Mistakes: Avoid Committing All Of Them

make a list of pointers to avoid mistake

In the copier leasing market, there are three legendary mistakes that businesses make. Roughly 95% of small to medium-sized businesses who lease office space sign up for a copier lease term. However, most of these companies presume that their monthly payments are the most vital aspect of the three to five-year commitment.

Mistake # 1: Failure to inform the lessor in a timely manner.

Numerous leasing businesses require the lessee to provide a written notice within a pre-specified time frame. This could be in between 30 days to three months. Failure to render the needed notification could automatically extend the lease term to as long as twelve more months.

Mistake # 2: Paying the initial documentation work fee.

Leasing companies often refer to this as the initial document preparation cost, and often runs in between $75 to $200 charged in the first invoice. However, most clients aren’t aware that this management cost can be waived if they request for it. Merely informing the agent to get rid of this provision from the written agreement is all that it takes.

Mistake # 3: Spending for insurance.

In the majority of cases, your existing workplace insurance plan can cover the photocopy machine’s lease insurance requirements. During the very first 30 days of the lease term, a lessee can call the insurance company and request for documents about the restrictions of the policy. Forward the information to the leasing business. If you do not have adequate documentation, your billings will certainly reveal a surcharge that could be as high as $10 to $50 each month.

Keeping in mind the three most common mistakes of leasing a copy machine could conserve money on the lease itself, as well as, avoid the most common issues that people encounter with lease terms. Make a list of pointers to be able to avoid undesirable circumstances.

If you are not currently under an equipment lease contract, Try to consider the option now. The majority of customers choose to lease their photocopy machines since it offers a lesser impact in their overall capital and when the equipment becomes obsolete, they can change it.

With leases, on the other hand, you get a tax reduction because lease payments are considered operating expenses. In addition, equipment upgrades keep you competitive and efficient.

Beyond the benefits, you should also be asking questions about how to know if the dealer is on your side?

A good dealership is an excellent client advocate. In the years that Copier Leasing Nashville TN has stayed in the business, we have recognized the significance of being the customer’s chief supporter and negotiator. That responsibility begins from the first day and it continues up until the final payment and end-of-lease term arrives. Prior to you signing a lease, inquire about the choices you have at the end of the lease term. Moreover, ask how far ahead of time you will need to notify the lessor when your lease is nearing its end.

We are experts on this field. Copier Leasing Nashville TN has the experience in negotiating the best deals for our clients, call us today.