A 63-Month Copier Lease?

Today, I came across a startling scenario while reviewing a copier proposal at a church in Nassau County: a dealer was trying to secure a 63-month lease agreement!

This is a textbook example of high-pressure sales tactics.

Why would anyone consent to such an extended lease? It's worrisome that customers are committing to these agreements without fully grasping the consequences.

Having written for over two decades about avoiding the traps of aggressive sales strategies, it's frustrating to witness their persistence.

Here are reasons why a lease exceeding three years is typically inadvisable:

Rapid Technological Advancements: Copier technology progresses swiftly, introducing enhanced features and security updates.

With a 63-month lease, you risk being saddled with obsolete technology while newer, improved models become available.

Security Updates: As security measures advance, older copiers may not receive vital updates, compromising document security.

Flexibility Concerns: Changing needs—whether for a larger or smaller machine—can make exiting a lengthy lease both expensive and complex.

Performance Deterioration: A copier's performance usually peaks in the first three years. Beyond that, maintenance requirements grow, which could lead to increased downtime.

Dealer Dependability: Should your dealer cease operations or deliver subpar service, you remain bound by the lease until its conclusion.

Early Termination Costs: Prematurely terminating a long-term lease can incur significant penalties, exceeding the remaining monthly installments.

Advantages of a 3-Year Lease:

Frequent Technology Upgrades: You can benefit from the latest technology and features more regularly.

Cost-Effectiveness: A shorter lease duration typically ensures optimal copier performance, with reduced maintenance expenses and fewer unexpected issues.

Greater Flexibility and Autonomy: You retain the ability to adjust to evolving needs more readily.