Do you find yourself waiting for reports to print or experiencing frequent downtime? Are old printers and copiers eating up your profits in toner, supplies, productivity and energy consumption?
If you know it’s time for a change, you might be wondering whether it’s best to buy or lease a copier or printer. We believe printer leasing is the best way to get newer, more efficient equipment and long-term ROI.
The problem is that printer leasing companies are not all the same and can offer wildly different results. Most companies looking for leases seek the lowest lease rate. Getting a fair price is always a key piece of any leasing arrangement, but it is not the only standard for getting the best lease or leasing experience.
So, how can you get the best commercial printer lease? Get answers to the following questions.
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To get the best possible lease options, make sure you first choose reputable leasing companies to bid on your project. Choosing the wrong Managed Print services and leasing partner could result in hidden fees, inflated end-of-term buy-outs or renewals, or the wrong technology solutions for your company.
Leasing companies are not all alike. Most specialize in specific industries, some in lease types, some in certain equipment types, and still others in transaction sizes. To get the most attractive deal, stick with lessors who focus on the types of printer equipment and transactions you need.
Some criteria to consider for a leasing arrangement include:
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Leasing companies also differ in their resources and capabilities. Many large leasing companies are owned by banks or large financial companies. These firms usually have nearly unlimited resources but typically don’t have experience or expertise in servicing any particular type of equipment lease. To them, your printer is just a line item on a balance sheet, not an important technology investment.
These large banks obviously have the money, but do not often understand the flexibility or ideal terms for your particular company’s needs. Financially sound mid-size and smaller leasing companies often have highly skilled professionals, sufficient resources and more flexibility to meet lessee needs. The question is whether you simply need access to capital or a lease agreement that is more flexible and customizable.
We recommend finding a print provider that can work with your organization’s unique requirements. The company should be able to structure leases to fit your needs with lease terms or the length of the lease and offer flexible purchase options when the lease term is up. At that point, you should be able to purchase the machine at a fair market value, return it or lease it again — whatever makes sense for your business.
Ask whether they will finance your lease using internal funding or whether they will broker the lease to an outside funding source. Is there a possibility they’ll sell your lease to another servicer at some point? This a common practice among many leasing companies.
Interview prospective bidders carefully. Ask about their experience with the type of transaction you are looking for, involvement with similar firms in your industry and the types of lease products they offer. Some products might include:
Ask for references and financial information to evaluate their financial condition. Search online for unresolved problems, fraud, financial issues, poor reviews, success stories and awards. Lastly, prospective bidders should belong to one or more industry trade associations. While membership alone does not speak for the integrity or expertise of a company, most of the associations set standards of conduct for their members.
And, as with anything in life, avoid high-pressure lease sellers. Your lease terms should offer flexible terms and options so that you can:
Keep up to date with technology. A lease agreement should make it possible to have the most current generation of technology, not out-of-date machines.
Outsource asset management. An experienced printer leasing company can manage your equipment from delivery to disposal.
Get custom terms. An experienced printer leasing company can bundle the equipment, installation and servicing in one contract.
Hedge against inflation: A lease agreement can help protect against sudden inflationary cycles.
Get a real return on investment on your technology: Make smaller payments while the equipment generates revenue.
By taking a few easy steps during the planning and bidding phases of the lease process, you can find printer leasing companies with high integrity, great reputations and authentic and excellent communication skills. Invest a little time upfront and thank yourself later.
Gordon Flesch Company has been in the leasing business for nearly 50 years and customizes each lease agreement to align with your goals and budget. Contact the leasing professionals at the Gordon Flesch Company today to learn more about how equipment leasing can enhance your operation. Or, request a complimentary Business Technology Needs Assessment by clicking the button below.
