If your lease is coming up, you may be getting prepared to send your copier back to the leasing company. This process can seem confusing, but it really isn’t so bad when you have the basics understood.
What Does it Cost to Return a Copier
Costs will vary based on the size of the copier and the distance the copier must travel. A good deal might be $300 if it is local and if you are shipping the copier across the country, it might get closer to $1,000. It depends on the size of your copier and the distance, but there are specialized companies who will come get the copier, keep it safe, and insure it to reduce the risk for you since the copier needs to be received in working order.
Why am I Sending a Copier Many States Away?
Unless a copier company is self leasing, which is uncommon (imagine trying to fund $10,000 copiers at a rate of hundreds per year) – these leases utilize funding from banks (aka, leasing companies). At the end of the term, the copier will belong to the bank, if you do an FMV lease, so this is why you have to ship the copiers. The leasing companies generally have 1 to 2 warehouses to receive the old copiers and this is where you send them to.
Giving Proper Notice
One critical thing you will need to do when returning your copier is to give the right amount of notice to the leasing company. This involves letting them know you no longer will be using the copier. Failure to notify, in many cases, will result in automatic renewals. It is important to know the windows you need to notify within.
If you would like to get help with a new copier and want us to take care of the lease return of your old copier (even if you got it from someone else), we would love to help. Give us a call today!