When leasing copiers, you're often given the option to upgrade your machine before the end of the contract--and, most of the time, this is an alluring offer. Who wouldn't love to have new equipment available at a whim? Hold on just a minute, though--this offer actually isn't as appealing as it sounds. Read on to find out why you should never upgrade leased copiers before the end of your contract!
Don't Upgrade Leased Copiers
Multifunction copiers are like any other piece of tech: every so often, they get upgraded with all the shiniest bells and whistles--which makes companies want to have the latest and greatest. If you're leasing your current copier, you may think you have a leg up because your dealer offered you the chance to upgrade--but here's what's really happening.
#1: The "Trojan Horse"
In this sly maneuver involving high costs hidden inside what looks like a gift, your dealer makes you think you're upgrading and saving money on your monthly payments. However, the truth is that the remaining balance on your original lease is added to the cost of the newer equipment. While the monthly payments look lower because the new machine is less expensive, you're paying for two copiers in total--even though you're no longer using the first one. You might call it the "Trojan Copier!"
#2: The "Changing Contract"
In a spin on the "Trojan Horse," you're still paying for both devices--but this time, the price of the new copier is comparable to the price of the original equipment. To make your monthly cost look lower (while the overall price skyrockets), the dealer changes the terms of the contract--for example, forcing you to pay for several more years.
What To Do Instead
Instead of worrying about the fastest way to get your hands on the latest and greatest multifunction copier, it's often best--both for your workflows and your finances--to wait until the end of your lease. At that point, it's far cheaper for you to enter into a new contract for upgraded equipment--or, perhaps, hold on to your existing copier. The truth is that copiers don't become obsolete quite as fast as rapidly changing tech would have you believe, which means that the copier you've already paid for is probably doing exactly what you need (even if it's not quite as shiny).
In conclusion, there's one crucial rule of copier leasing: don't upgrade a leased copier before the end of your contract! This is one case where patience--and a little bit of background research--will pay off.
Want to know more about copier leasing? Interested in budget-friendly, no-strings-attached upgrades? Contact us today!