Can you get me out of my lease?

I have often come across a customer asking me to get them out of a lease, this is a very difficult situation. Sneaky salesman will often try to “lock in” a customer into a 5 year lease, by doing this, they lock up that customer for five years and even if the company goes out of business, you are stuck with the lease payment. I have been doing this for 27 years, when you are in a lease and if your service provider goes out of business or if the machine fails miserably, you are still stuck with the lease.

Is there anyway to get out of the lease? Yes & No

The salesman can get you out of the lease by asking for a buyout from your leasing company, after the leasing company gives that amount, lets say $4500.00, the salesman will take that amount and add it into the cost of the new copier, he will then try and get you into another five year lease to reduce the monthly payment. You will pay dearly for this!

You have been reading my posts for a while now, you know what to expect, they’re  are so many customers still out there that get burned by the greedy salesman.

Never go into a five year lease, never!

If you are going to lease, it should be maximum of three years FMV (fair market value)

There is such thing as a dollar buy out lease, which means at the end of the three years, the machine can be bought for $1.00. I recommend this type lease only if you trust the selection of equipment selected by your current company. Remember, if it is a troublesome machine, you bought it. Only trust a technician who is a veteran in the business to make this selection. Salesman only sell, that is what they are good at and 95% of them only know the brochure and nothing regards to actual service history. Quite honest, most salesman are full of BS.

I would also only recommend a dollar buy out lease with a customer doing low to medium copy volume. If you do high volume, lets say 150k copies a year on a 30 cpm copier, then you should not do a dollar buyout. The reason is, in three years you will have at least 450k copies or better, that meter count is very close to what the copier life expectancy is. Remember, I am not a Snake oil salesman, I am telling you the facts coming from a veteran copier technician of 27 years.

Now, if your yearly volume is 60k, then yes! dollar buyout and keep the machine for 6 plus years!

My next blog will be about why it is important to take control of your lease and not leave it up the the salesman.

We are known for our honesty and fair pricing along with outstanding service. What more can you ask from a copier company?

visit us online @  http://www.longislandcopiersales.com  ask for Phil or Peter, we will give you advice like no other copier company can.

Thanks

Phil

Tags: Beware of the snake oil salesman, beware of upgrading your server, copier leases, Copier leasing, copier sales, copier service on long island