If you don’t want to spend too much on your copier then there are a few things you need to know. We can’t go over everything in this one post, so today we are going to focus on understand lease rates. Lease rates determine your value of your copier and how much you need to be paying. Understanding lease rates is crucial to making sure you get the best deal possible.
Lease rates are adjusted as you spend more money. If you spend more , then your lease rate will be lower. This is to make it more advantageous to buy more expensive machines. However, the price isn’t adjusted gradually. You have to break through certain price points in order to get a break.
Let’s say that you wanted to lease a small copier for your office for a 48-month lease at a cost of $3001. You would have to return the copier at the completion of the lease, and the bank will charge you a Fair Market Value lease rate of $74 per month.
If you were buying that same copier for $2999, your Fair Market Value lease would actually end up being $91 per month. You may be wondering why a $2 difference on your lease would make your monthly payments more.
Just to help break it down.
$3001 Lease – $74 per month
$2999 Lease – 91 per month.
That’s a difference of $17 per month.
$17 x 48 months = $816 over the course of your lease!
If you understand lease rates then you can use them to your advantage. Spending a little more can actually save you money in the long run if you do it correctly.