Cons of Copier Leasing
June 1, 2015//Comments Off on Cons of Copier Leasing
Understanding the cons of leasing a copier will help you to understand if this option makes sense for you. Leasing may sound more appealing because of the low initial investment, and it is not a bad idea for startup businesses, but if a company can afford to purchase outright, it sometimes makes more sense.
Over the duration of a lease, your modest price can balloon into a price that equates to many times the price of your copier. Always exercise caution and read the fine print. Leasing companies want to make a profit on their investment, so they set up the payments to make a return profit. Where many people go wrong is at the buyout point where the lease can automatically renew for another year, or longer.
In addition, there are always security issues with used equipment, and you never know who will use the copier after you. Programmers designed modern copier to keep confidential information, and unscrupulous individuals can retrieve this information if the equipment has not been properly handled.
Before you sign a lease, always look at the total cost. If the monthly payments add up to a lot more than the total cost of the copier, then you are being ripped off. Leasing does come with its advantages, but you must be aware of the disadvantages so that you can safely dodge the traps.