Copier Leasing Tip: Terminating your Lease
You are at the end of your lease and you are already looking at the newest models of copiers. You think that you are about to get a great new machine when your leasing company charges you for additional months. This is not uncommon for people that are new to copier leases. They assume that their lease will end on the date on their contact, but that’s not always the case.
Many leasing companies include a provision in their leases that allows them to activate automatic rollover. This is the ability for your leasing company to continue your lease unless you state otherwise. They can rollover your lease to the next month and there’s basically nothing you can do about it.
This can be one of the most irritating things about the end of copier leases. Ending the lease should be easy, but many companies use tricks to squeeze out a bit more money. Terminating your lease is easy, as long as you keep track of what you need to do.
- Find out if you have automatic rollover in your lease.
- Establish when you need to terminate your lease. This is usually between 45-90 days before the lease ends.
- Mark the earliest possible date on your calendar
- Write a letter or email confirming that you are terminating the lease at the specified date.
If you follow these steps and are responsible then you should not have much of an issue. It’s just important to consider that you will be taken advantage of if you are not on top of your lease.