Getting a good lease on your copier can seem like it’s more art than science. There are so many things to keep track of, and so many different areas to balance. Well today, we are going to share a secret on how to get a great price on your copier lease rate.
Understanding how lease rates are determined is critical to understanding how lease rates work. Leases get breaks on monthly payments if they pay more; however, it’s not adjusted for every dollar you spend. You need to cross certain price thresholds in order to get a price break.
For example, you want a 48-month lease on a copier that will cost you $3001. The bank will decide the Fair Market Value lease rate and say you need to pay $74 per month.
If you were buying the same copier for $2999 then the bank would actually say that your Fair Market Value lease rate would be $91.
Just to help show it differently.
$3001 Lease = $74 per month
$2009 Lease = $91 per month
That’s a difference of $17 per month.
$17 x 48 months = $816 over the course of your lease.
That $2 lease can make all the difference over the course of your lease. Spending more in the beginning could actually help you save money at the end. Ask your leasing agent about lease rates and price breaks. They likely won’t tell you about any of this unless you ask. Don’t back down and do the math. If you look carefully then you could actually get an upgrade for less money than you planned on. Deals are always out there if you look.