This article focuses on how the photocopier rental agreement can be terminated with the rental company, not the photocopier contract with the dealer. A copy lease buyback (not to be confused with a $1 buyout) can be included in a new lease. Photocopier sellers usually buy leases to deprive a competitor of the business. This allows the dealer to earn your business with newer devices. The photocopier seller will cut you a check to pay the balance you have in your old leasing company. The catch here is that you add the balance of the old lease agreement to the costs of the new lease agreement. Another possibility is to terminate the rental agreement to copy before the time by paying the balance due. In this case, still respect the rental conditions and can get away with it. This is not an ideal option for many companies that may not have the necessary cash flow. If you are the office manager of a company, you know how your company might be dissatisfied with its current copy/printer rental provider. See if you have signed a „personal guarantee“ (PG) in your rental agreement.
If you did, it may not be a good option to leave. In principle, a PG holds the PG signatory personally responsible for the rental conditions in the event of a delay or bankruptcy. If you have signed a PG, your personal credit is at risk if you or your company decide to „leave“ the agreement. You should check the performance clauses in your contract to see if the leasing company has not met the leasing requirements. Your copier may not have met the promoted operating standards. However, performance standards are more often about your copier contract and not your leasing payments to the lender. In this case, you may only need a new service provider. While there are a number of possibilities to obtain a photocopier rental agreement, most options involve potentially costly legal disputes, with no guarantee of success. A less complicated (and less expensive) way to get out of a copier credit is a lease buyback. If you`re happy with your current copier leasing and the service provided by the provider, you probably don`t even think about how to get out of your copier leasing. But if you`ve bought too much or too little or your needs have changed, you should launch a buyout. Perhaps you would also like to consider a buyout if your monthly financial commitments are too high.
It`s a good idea to consider a buyout if your competitors with similar photocopier needs pay much less for copy rentals and services….