Are you thinking about leasing a copier in Colorado Springs? If you are, there are probably some questions you have. I will attempt to answer a few of the most commonly asked copier leasing questions in this blog post!
- What’s the difference between a FMV lease and a $1 Buyout copier lease?
A: A FMV lease stands for “Fair market Value” which is set by the lease company at the end of your term. they give you an option to buy the copier for what they think it’s worth when your lease is over. It is normally substantially overpriced when compared to open market pricing. Essentially in practice FMV means you’ll return the copier.
$1 Buyout is another type of lease which basically means at the end of the lease term, you have to pay $1 to keep the copier. It is the option to choose if you want to keep the copier for longer than the lease duration.
- Should I lease?
A: This is generally a cash flow and accounting question. In terms of value, you will tend to pay a higher financing rate than through a traditional line of credit. If your cash flow does not allow for a full purchase, it is a good option to look at.
- Do I have to lease to get a service plan on my Colorado Springs Copier?
A: Absolutely not. Supplies and maintenance plans are available outside of a lease contract. The only reason a copier company would tell you it’s not possible is if they want the copier at the end of the lease term to sell into the used market or if they plan to just roll over every 5 years without the option of extending your copier’s life cycle.
If you would like to purchase or lease a copier in Colorado Springs, please give us a call!