Is your copier lease ending soon? Here’s what to do next

As you're approaching the end of your office copier lease, you may already be aware that leasing has several benefits over purchasing, including the lower upfront cost, offering a manageable monthly lease payment, addressing short-term needs, and the ability to include maintenance. Now that you are approaching the end of your lease, what do you intend to do? Will you renew your lease, opt for a trade-in to increase efficiency and productivity, or purchase your equipment outright?

If this is your first time coming up on the end of your lease you may not know what your options are. Even if it’s not the first time, things inevitably change in any kind of technology and you might not know about some of the newer copier features. Read on to find out more about what options you have and how each might benefit your business the most.

Milner has over three decades of experience with leasing copiers and we know what will suit which type of business. We want you to feel confident with your relationship with us as your copier vendor and would love to talk to you more about what you can do when your copier lease is up. We’re here to answer any questions you might have and to explain further any of the options listed below.

What comes next?

Typically, there are four options to consider when your copier lease is up: trade in your device, renew your lease for another term, purchase the copier outright, or return the copier. Which one is right for you? 

• Trade-In

  Like all other technologies, copier companies come out with newer versions every year. Milner works with top copier brands Ricoh, Konica Minolta, Efi, Duplo and Xanté. A new MFP might be just the thing you’re looking for if your older model MFP is experiencing more frequent service calls. Even if your older-model copier has been serviced regularly and is still working in top form, it may be lacking in newer software that protects both your business from vulnerable security risks. Perhaps you’re finding that your business is in need of a better way to increase productivity and manage workloads and you’re looking for a new MFP that will help you reach those goals.
  
  Most businesses elect to replace their old models with a newer model once their leases expire, regardless of the reason. For all the reasons listed above, trading in your old copier for a newer model might be what your business needs. Additionally, a trade-in will relieve you of the hassle of disposing of the machine yourself, and allows you to get an upgraded replacement delivered right to your door.

• Renew

  Re-leasing your print and copy equipment can offer a few different benefits. If your company hasn’t really used its copy devices during the term in which you leased it, this can be a great option for you. If your current technology isn’t experiencing any overuse. The best way to tell if your device has been underutilized is if you had a minimum of monoprints or color prints per device and you did not exceed this minimum during the duration of your contract. Occasionally, you may be able to lower your monthly lease payment by extending the lease on your print devices. Choosing to extend your lease on your current print equipment will most likely reduce your monthly payments because the equipment has been in use for a few years.
  
  Milner has worked with companies over the course of our 3 decades in business to renew leases on copiers that business owners aren’t quite ready to part with. If you are happy with your copier and do not feel like you need to take advantage of any new security protections or updated technology, or you are unsure where your business might be heading or what your needs are for the next 6 months to a year, this might be the right option for you.

• Purchase

  You also have the option to buy your current machine outright and take possession of it. To ensure that your maintenance plans don't change, you'd need to sign a separate service contract with your copier vendor. Businesses rarely buy their machines after their lease ends, however, since there is usually newer technology available, and the machines have depreciated in value over time and their service cost increases as the technology and parts become outdated.

• Return

  Lastly, you can return the copier to the leasing company. You are not contractually obligated to continue working with that company after returning the copier and fulfilling the lease, and you can decide whether to switch vendors or provide your own machines. To ensure you know the return process, you should contact your vendor ahead of time, typically up to 90 days, if you are nearing the end of your lease. You should review your lease terms and conditions to understand your obligation to return, and if you are responsible for shipping and any additional charges. While Milner wants to keep you happy with our services and is always willing to go the extra mile to make sure your lease equipment is right for you, we understand that sometimes other choices occasionally need to be made. We will never make it difficult or uncomfortable for you to talk to us about your needs. 

Be prepared for when your lease ends

For businesses without the budget to purchase high-quality, productivity-enhancing copiers and printers up front, leasing is the best option. A well-informed customer is a happy customer, especially with something as detailed as a lease agreement. At Milner, we want to provide you with as much information as possible. With Milner as your strategic technology partner, you can be sure that whether your office is working with an in-office or hybrid work model, you'll always have the best technology for your particular situation. Whatever your current lease is, we offer flexible lease options on office copiers. Contact us today.