From time to time I will go on a sales lead and the customer will ask me
I can get them out of a lease. I would like to be clear on this, once you
sign a lease, you are stuck
in that lease for the entire time you signed in
for. Will a salesman BS you and say “yea we can
get you out” sure they
will but you can only get out one way, and that is if you buy out your
The salesman will call your leasing company and asked them for the buy
price,which will include the additional cost if the leasing company
charges if you end a lease early.
They take that amount and they tack that
onto the price of your NEW copier. Yes it is a very hefty dollar
someone has to pay for it (YOU). I what the salesman will try to convince
you on doing is locking you back into a 60 month lease! They salesman
and leasing company will make more
money by booking you into a longer
lease, yes your monthly payments will be smaller but you will end
What did you think? the smiling salesman was going to absorb this hit?
nor his/her company or the leasing company will ever do this,
you are on your own!
Now, I have
been writing and preaching for more than 10 years now,
why you should never go into a five year lease,
over and over and over
again. When you have a high volume office and you are doing 150k – 200k
or better a year… you should lease a machine for THREE YEARS FMV ! after
the three years, your
machine will be at around 600k, this is when things
break down and major pms are needed, why go forward
with the same
machine? after all you are leasing and you will continue to lease, mine
lease something fresh every three years!
Customers with moderate volume or low volume, I recommend they
with a $1.00 buy out so you can enjoy lease free months after three years,
after all, isn’t
that everyone’s goal? to keep monthly payments to a minimum?
The salesman wants to sell and will
do anything to sell that machine to you.
You can not get out of a lease without YOU paying dearly. Not
biggest law firms can get out of a lease, trust me, I have been doing this
To recap this blog:
1) You can not get out of a lease
2) Never lease a machine for more than
3 years (reasons obvious)
3) Take anything a copier salesman says with a grain of salt.