How to Get Out of a Copier Lease

Submitted by Michaela McMellan on Tue, 10/20/2020 - 09:00
Lease agreement

With companies printing an average of 10,000 copies per year, you need a multi-function printer (MFP) that is easy to use and won’t give out on you. If your MFP is currently causing headaches or wasting time because of breakdowns or difficulty of use, it may be time to switch machines. Your current vendor might only sell one brand of copiers/printers, meaning it may be time to switch vendors completely.  

Besides headaches and difficulty of use, you may be overpaying for the service and vendor you are currently using. We’ve provided resources explaining the reasons why you may want to get out of your current copier lease here. This article will talk about the details regarding how switching vendors may save you money in the long run.  

2 Steps to get out of your current copier lease  

We understand that breaking a lease may not sound desirable, but trading in your old machine for a machine more suited for your business needs will benefit your company more than hanging on to a printer that is slowing down your company's productivity.   

We may be able to buy out your current contract and provide you with new technology, such as productivity apps that will help streamline your business processes.  

Step 1: Notify current vendor   

Email current vendor requesting a current buyout to include any shipping cost to return if necessary (get this in writing).  

Check your current lease to see when you must notify the vendor that you are breaking your lease. Sometimes they need a 30-60 day notice. This will be clarified in your current lease agreement. If you don’t notify the vendor, you can get charged an extra month payment.  

Step 2: Providing information to your new vendor   

Provide a written buyout and a copy of your current lease to your vendor’s sales rep. This way they will be able to understand the circumstances of your current lease, payments, and conditions of the lease. With this information, they can better assist you and make this transition as painless as possible.  

Addressing Fees  

One fee associated with switching copier vendors is the dreaded cancelation fee. Cancelation fees are something you may have to pay. However, if you have somewhere to store your current machine for the remainder of the lease, you may be able to avoid the cancelation fee.   

There are several ways to handle cancelation fees. Below is how we can help with getting a new machine if you have cancelation fees.   

If possible, we will buy out that machine by giving you a check to cover the rest of the lease payments, until your lease with them is over. This will save you from the expensive cancellation fees but also allow you to enjoy your new Xerox machine.  

Once your current lease is up and you are ready to return the old copier, you may encounter shipping fees. We recommend at the start of a contract with any vendor, to include shipping costs in your bill. This way you won’t be surprised at the end of your lease. However, if you did not do this, be aware you’ll likely have to pay a shipping fee that can range from $250 - $2,000. The price depends on the size of the machine, how many machines you have, and the destination of where they are being shipped.  

Additionally, ask your sales rep about promotions that will help offset any buyout cost you may have.  Many major brands will give a discount for new customers that are switching vendors.  

Contact us 

Now that you know the two easy steps to getting out of a copier lease, get in contact with a vendor of choice to determine if changing vendors could save you time and money. Switching vendors could benefit your business more than staying with your current vendor.  

If you're not sure whether breaking your lease and switching vendors will save you money, contact us and we can evaluate your current equipment. 

Infographic: Is your current copier costing you time and money?