Have you ever wondered how much it costs to lease a copier? In our recent blog post, we discussed pricing in some very general terms. The copier lease calculator will allow you to get a general sense of your monthly payment based on the following factors:
Financed Amount:
Make sure you include all the costs associated with the transaction, such as delivery, setup, and installation. Many times, the service that is associated with the machine will also be financed in order to achieve a pay-one-price model (also known as service in the lease). The last thing you want is to receive an invoice for these incidental charges, which could quite frankly add up quickly.
Term (in months):
Again, pretty simple to figure out what is needed here; keep in mind that, as a general rule of thumb, the shorter the term, the better the interest rate. You could be offered some additional intervals (i.e. 39 months, 63 months, etc.). For our copier lease calculator, we’ll use the basic terms with the understanding that if you would like more options, we are always available for further discussion.
End of lease options:
This is extremely important in determining the monthly costs! We’ve included the two most popular choices, understanding that there are many more options to choose from. FMV (Fair Market Value) is based on a true operating lease. The piece of equipment shall be leased for a specified period, and upon completion of the payment stream, the equipment must be returned. Similar to an automobile lease, you are essentially renting the use of the machine for a specified amount of time. A $1 out lease presents more as a conventional loan. Although it is termed a lease, at the conclusion of the term you will be able to take ownership of the equipment for $1
This copier lease calculator is provided as a tool to help you better understand your monthly payments. Please understand that many factors may influence this payment, and by no means is it an exact payment calculator. We need to always consider the business’s creditworthiness, location of installation, and overall usage as potential payment influences. For more information, please feel free to contact us.
