How to Avoid Overpaying on a Copier Lease in Chicago

Many businesses choose to lease a copier to avoid the high upfront cost of purchasing a multifunction machine. Copier leases typically last three to five years, with monthly or quarterly payments.

Before signing a lease, it’s essential to assess your office’s actual copier needs. Overestimating usage or features can result in unnecessary expenses. For example, if your office produces 20,000 copies per month, leasing a machine capable of 200,000 copies is overkill. Talk to your team to identify necessary features, so you only pay for what you actually use.

Understanding the terms of your copier lease ensures you get a fair agreement. Here are three key terms you need to know:

1. Fair Market Value

Some leases give you the option to purchase the copier at the end of the lease. For shorter-term leases, companies often buy the copier since it still has longevity. The purchase price is typically 25–30% of the original cost, as determined by the leasing company.

2. Interim Rent

Billing cycles dictate payment due dates—commonly the 1st or 15th of the month. If your copier arrives before the start of your billing cycle, you may be charged an interim rent to cover the period before your contract officially begins.

3. $1 Buyout Option

Some leases include the option to buy the copier for $1 at the end of the lease. While this may seem appealing, it could increase your monthly payments. In many cases, it’s smarter to agree on smaller monthly payments and decide at the end whether to purchase the copier. This allows you to assess the copier’s condition and your current business needs before committing.

Additional Tips

• Check for hidden rate increases when adding equipment mid-lease. Ensure the new calculations are fair.
• Review shipping terms carefully. Some leases require the lessee to cover return shipping costs at the end of the lease, which can be several hundred dollars.

Leasing Copiers in Chicago: The Smart Choice

Clear Choice Technical Services offers copier lease in Chicago that let you choose the right machine for your office without overpaying. By understanding lease terms and working with a reputable vendor, you can secure a copier that meets your needs while staying within budget.

Contact (312) 216-0722 local copier leasing services today to explore options and get a solution tailored to your office.