The copier you leased a few years ago was the perfect solution for your day-to-day business needs. Now, your company has grown and with it came the need for new technology. Or maybe your service provider has been bought out by a larger company, and you are no longer getting the timely service that you require.

In either scenario one thing is true: you have a legally-binding contract that is no longer meeting your business needs.

What can your business do? You can find another service provider (like Doceo) who can assist you with buying out your existing lease.

What is a copier lease?

Let’s start with the lease. A copier lease is a legally-binding contract with a leasing company which maintains ownership of the copy equipment. Over the agreed time period, your business pays a monthly fee to the leasing company for use of that equipment. At the end of the contract, you can either trade the device for a newer model or purchase the copier you had been using.

Because your lease is a legal document, you cannot simply stop making your monthly payments. If you stop paying the leasing company, your business could suffer legal recourse including equipment repossession as well as a negative impact on your company’s credit score.

What do you do when you have 20 months left in the middle of a 60-month lease and the current equipment and/or service being provided is just not up to par? A copier lease buyout may be the answer.

What is a copier lease buyout?

It is very common for copier dealerships to offer you a buyout on your current copier lease to win your business. When the dealership agrees to a buyout, they will take all of your remaining payments and include them in a new least contract.

Buyouts can vary depending on the dealership, but in general, they simply mean:

• The new copier dealership proposes new equipment and their customized service plan into a new copier lease.

• The new leasing company bundles the new lease with the rest of your old lease, and they cut a check to your existing lease company to pay off the old lease.

It’s important to understand that in a buyout, you are not truly getting “out” of a copier lease. You’re trading one lease for another lease that contains better equipment or more favorable terms.

In conclusion…

A copier lease buyout is many times the only feasible option for a business that is unhappy with their current service provider, terms or equipment. The beauty of a buyout is that even though it may seem like a daunting or tedious task, it’s actually quite simple. Your new service provider knows how to assist you with the process and will be beside you every step of the way.

If you’re in a current copier lease that no longer serves your needs, contact Doceo today and one of our Customer Service Specialists will be happy to assist you.

Don’t spend another day (or another dollar) with service or equipment that is not serving your needs!