Is Time Running Out on Your Copier Lease?
Are you looking at your copier lease in KC and realizing that it’s coming up in a few months? Probably not, this is not normally how it works. What generally happens is your copier lease is coming up in 6 months to a year and your pushy rep is offering you a “free upgrade” to their new latest/greatest copier. This is a problem because as you do this you pay for months of a copier contract that you shouldn’t have. Here is the basic premise… Copier leases have an interest factor based on the duration of the lease. A 36 month lease, for instance is currently about .0305 times the amount of the lease to come up with the equipment price per month. The 60 month is closer to .024 times the amount being financed.
Ultimately, the bank finances the whole amount and when you get the “free upgrade” you are actually getting 6 months of the current lease SPREAD out on the next 60 months of payments, which essentially costs you 10% more than you need to pay extra. We can go over how copier leases in Kansas City work, but always be careful of the copier rep promising a “free upgrade.” We all know there is no such thing as free.
