What happens when the lease ends?
Vendors will have their own rules and policies set in place when it comes to leasing copiers or MFPs. It is filled with a lot of jargon, but it helps to have a lawyer review it with you, or you should at least become familiar with the jargon. The devil lies in the details. It is essential to distinguish the nuances of the stipulations that lie within your lease. For example, it can cost around the area of $400-$2,000 to return a machine to the copier vendor through shipping and handling. The customer would generally be responsible for the repackaging, crating, and the return fees associated.
Also, you would have to declare your intent to return the machine before the lease is technically finished. If you fail to notify the vendor about your intention to return the device before the lease is up, it is more than likely to roll over. What that means is that your lease automatically renews and you are stuck with the same device or at least on the hook to make lease payments every month. It is important to find out if the lease will roll over prior to signing the signing the lease.
How can I expect the insurance to work?
The average for the industry is 1/4% the value of the totality of the asset per month. Ask them if it is necessary to take on their insurance policy or if you can look for your own.
How is property tax affected by the lease?
This particularly aspect differs from state to state, and you may ask the vendor about how the rates work. The base monthly expenses may inflate if the property tax is higher, but most of the time, the bill is in one total price.