One of the questions that decision-makers ask before signing a lease is about what they have to do to get out of their lease and what they are really agreeing to. Operating lease or Fair Market Value are leases that let you get a piece of office equipment at a good price. The reasons why someone would want to get out of a lease are numerous, it could be because of lease rate increases, poor service, desire to upgrade the equipment, can’t afford the payments and more. 

Before you sign a lease, you should read your entire office copier lease again and again if possible. You must check every single detail before you sign anything. If there is a terminology that is stated in the lease that you are not familiar with, you can ask the representative for clarification or further explanation. If they are not able to adequately answer your questions, get them to provide you with a contact who can explain it to you. 

It is also best to understand the standard office copier lease language. Despite what a representative might say, the terms and conditions on the lease are what you agree to. 

Check the lease terms and conditions. You agree that this agreement is a net agreement that you can’t cancel or terminate. You have an unconditional obligation to make all payments due under this agreement, and you can’t withhold, set-off or reduce such payments for any reason. 

Check the agreement. Your monthly base payment obligation is unconditional and it is not subject to any reduction, set-off, defence or counterclaim for any reason whatsoever. 

Always check terminology; signing an FMV/Operating lease holds you responsible for the entire lease term. 

What if you end your fair market value lease term early? What does it mean if you want to terminate your lease? First, you must check the terms and conditions of your lease. To terminate your lease early, you must pay the remaining balance of the lease term. This does not mean just the payments. 

You’re responsible for service, sales taxes, return fees, property taxes, and any late payment penalties if added to the lease.. 

When the current vendor that you are working with buys out a competitive lease, it does not magically go away. However, there are four ways a great office technology company can mitigate or reduce the loss to you. They can do so by reducing the cost of their goods to you to offset their buy-out. What is a buy-out? A buy-out is an agreement where the lease of existing equipment is terminated for the remainder of its term. This buy-out agreement voids the existing lease while also providing you with a new lease agreement through your new vendor.

Using Marketing Development Funds or marketing dollars provided by a manufacturer or rebate passed on directly to you. Vendors use MDFs to help partners cover costs for tools or equipment needed to sell their services or products. 

Providing some type of incentive-based upon the total dollar spent. The remaining amount on the old contract is reduced by a percentage, offsetting your lease based on new equipment costs. Allow your current lease to roll over into the new lease offered for their services and products. Existing equipment can transfer to the new lease with your chosen vendor partner.

If you are in Sacramento and you are looking for a Copier in Sacramento for your business, you may contact Clear Choice Technical Services in Sacramento. You can ask about Copier Leasing Services in Sacramento, Copier rental services in Sacramento, and Copier Repair in Sacramento.