Find Out How Much Does A Copier Lease Cost and The Best Type Of Copier Lease For Your Business
At some point, most businesses will lease a copier. At IOT, we’ve been leasing copiers to our customers in the Minneapolis, MN metro area since 1995. The first question everyone asks is; how much does a copier lease cost? Courtney Carlson, IOT’s copier leasing expert, is here to answer that question! Courtney will review some of the most important aspects of choosing a copier lease term, and what can impact the copier leasing cost for your business.
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How much does a copier lease cost
The price of a copier lease will depend on the term length of your lease agreement
A longer term (like 48 months) will reduce your monthly lease cost, and a shorter term will increase it
You can usually choose from 12 – 60 months for a copier lease, but most are 36-48 months
A copier lease cost is both the monthly payment and they buyout at the end of the lease
IOT recommends a one-dollar-buyout copier lease, where you can buy the copier for one dollar after the lease term is over
A fair market value copier lease (FMV) means you pay market price for the copier after the lease term is over
Often the copier is returned to the leasing company in a FMV copier lease
How Much Does A Copier Lease Cost For A Business;
Courtney: We do what’s called the “Dollar Buyout Lease.” At the end of that lease term, if it’s 36 months or 48 months, the customer owns the copier for $1.
Jesse: Hey, everyone. Jesse Dolan here with Courtney Carlson. We’re doing a little IoT Tech Talk here, and today we’re gonna be talking about how much does a copy release cost? Courtney here is our resident copier expert here, and we’re just kind of break it down for everybody, because it’s a question we get asked all of the time. So, Court, I’ll just turn it over to you … how much does a copy release cost?
Courtney: It’s … it really can vary. We see most of the lease agreements that we do range anywhere from $100 to $200 a month, and sometimes that’s just the equipment only. Some customers like to have a service agreement that’s included in that. Also, the lease term can vary in pricing. Most businesses will do a lease for 36 months. Some will want us to extend that out to 48 months, 60 months. It really varies customer by customer. But most leases are in the $100 to $200 per month for a copy release.
Jesse: And we’re up here in the Minneapolis/St. Paul metro area, so the prices depending on where anybody’s at in the country might vary a little bit, but for us here in our local market, that’s pretty much typical what you’re seeing?
Courtney: I would say so, yes.
Jesse: Now you say, there’s kind of a range on the term as well … term is just to make clear for everybody the number of months you’re leasing it for?
Courtney: Yeah. You have the option, just like in any financing, you have the option to do a 12 month term, 24, 36, 48, 60. However long you want to extend that financing. Typically, with a business copier, what we see with a lot of our customers … we see 36 to 48 months, and that’s typically the norm in our industry.
Jesse: A 36 month copy release? So, that’s the month-to-month price. Are there any other costs associated with associated with a copy release? Down payments, a buyout on the back end … anything else you can shed light on?
Courtney: Most of what we deal with, if a customer is not purchasing a copier outright from us, we do what’s called the “Dollar Buyout Lease.” So, at the end of that lease term, if it’s 36 months or 48 months, the customer owns the copier for $1. That’s typically what I recommend to most of our customers, that way if it’s a business, business owner company, you own that asset at the end of the lease term.
Jesse: Pretty predictable, too. There’s no…sometimes you have a free market value as kind of another option, but that can be kind of subjective at the end of it.
Courtney: With a fair market value, you don’t own that asset at the end of the lease term. That goes back to the leasing company. You’ve more than likely more than paid for the cost of that machine over the lease term, and as a company or business owner, you don’t own that asset at the end of that term. That goes back to the leasing company. You have nothing to show for it.
Jesse: So choose the “Dollar Buyout” for a buck.
Courtney: I would recommend the “Dollar Buyout,” that way you can continue using that copier if you want to use it a couple more years. If you wanna sell it, you wanna donate it … it’s your asset, you own it.
Jesse: Do whatever you want.
Courtney: Versus a fair market value that goes back to the leasing company, and you have nothing to show for it. So …
Jesse: Okay. So, if people want to contact you or maybe they need to talk about how much a copy release costs for themselves, kind of get a specific quote … how would they reach out to you?
Courtney: Through our main number here at IoT. You can call us. Our main number is (651)452-5630. Also, my e-mail address: [email protected] There are a number of different ways we’ll provide info for people to get ahold of me, but I’m usually always available and happy to help out.
Courtney: Yeah, thanks.
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