Negotiate Better Payment Terms
Most copier leases will include a “net-10 days” payment clause. However, the demand for such quick payment is often not compatible with the way financial and regulatory oversight exists at many larger enterprises. The end result is that lease payments are regularly paid late, and the lease company enjoys a windfall in the form of late charges.
It is important to recognize that, regardless of a sales rep’s claims or the contrary, everything is negotiable. Therefore, ask for “net 30-day” payment terms, or at least demand a reduction in the size of late charges. Occasionally, a Madison area business has paid late charges on a regular basis for the full 60 months of a typical copier lease only because no one read the fine print before the lease was signed.
Avoid Documentation Fees
The excuse that is given when a “doc fee” is charged is just that, an excuse. You should not have to pay to simply have the paperwork “processed.” The mortgage documents required when a home loan is written may be complex; copier leases are not.
If a documentation fee is requested, simply ask the salesperson to “make it go away.” You’ll often save $50 or $100 or more, just like that.
Copier leases often contain these and other traps designed to increase the lease company’s bottom line while reducing yours. Be thorough, and you’ll avoid these pitfalls.
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