Once you have agreed upon a copier lease contract, it is already legally binding you to pay until the lease expires. For example, you availed a two-year copier lease, and then suddenly after a year your business stops and you don’t need the copier anymore. Even if you are not using it, it does not mean that you will not pay for the copier lease and the copier leasing services included in your contract. It is quite troublesome, isn’t it? You may want to stop and get out of your copier lease but you do not know what to do. Copier lease buyout may be a relatively new term to you but once you understand it, it can certainly help you. What is a copier lease buyout? How do you buy out a lease? Is it worth it buying out a lease? Read and learn more as we answer these questions about buying out a copier lease.
What is a copier lease buyout?
Since we already know that you can’t stop your copier lease agreement, you have to find another option. The option left is to buy out your lease or contract by terminating your service contract. Copier lease buyout basically means that you will transfer the service contract to another company. A copier service agreement can still be considered for a buyout for a period of 23 months or less. If for example you have availed a two-year copier lease and then after 12 months or one year, you decided that you don’t need it anymore, then you can opt for a copier lease buyout. Another company will take over your remaining lease until it expires.
How do you buy out a lease?
Technically, a buyout does not mean that another company bought your old lease. Copier lease buyouts are just another way of getting your remaining payments for the lease together with a new contract with another company. Copier dealers do this to close another deal and to close conflicts with the old one. Copier leasing buyouts is a win for both the sides of the client wanting to stop the expense lease and the new client who wants to get an affordable lease. Take note of the following tips on how to make sure that you will find a reliable and trusted dealer to buy out the contract.
- You have to check and make sure that they provide services or they sell the same brand of copier that you are currently using. Through this you will see whether they really need the copier and they are willing to pay for it.
- Make sure that you are still following the copier leasing and copier leasing services agreement. Check if you are still within the 23 months period of your lease. Remember that if you exceed within this time frame your copier is not available for a buyout.
There can be a lot of advantages and disadvantages in buying out a lease. You may be intrigued by the idea of trying out new copier leasing service or maybe you do not need your current copier anymore. A copier lease buyout lets you choose to avail the copier used by another company and to try using it on your business. It is a clever way for dealers to buyout copiers since they will just sell it again without the need for replacing and upgrading it. If you want to avail of an upgrade while using a copier lease buyout, you can look for copier dealers who are willing to give you an upgraded version with just the additional expense. It may be worth it for some and a loss for some dealers or buyers. The results may vary so you have to think and decide what works best for your business or company.
If you are looking for a Copier in Chicago, you can contact Chicago (312) 216-0722. You can ask about Copier Lease in Chicago, Copier rental in Chicago, IT Services in Chicago, and even Copier Repair in Chicago.