Leasing from Buckmaster Office Solutions
LEASING 101…What to Consider When Leasing Your Office Equipment
By Mark Champas
Some studies suggest that 80% of office technology purchases are leased, and generally the leasing companies used are either suggested or chosen by your supplier. Doesn’t it make sense to lease from a partner that you can trust?
In my opinion, an important aspect of the office technology sales process—leasing – is grossly overlooked. In my years of experience, I have observed many leases written by competitors that weren’t in the best interest of the consumer. Some of you out there already know what I’m talking about.
The most common problem is automatic lease renewals. This is where the lease that was supposed to end on a designated date renews for a predetermined period, usually quarterly or annually. It generally happens if the consumer has not notified the leasing company of their intentions prior to the end of the lease, usually within 3-6 months.
There are also other problems with leasing terms and conditions, such as the requirement to ship a product across the country at the end of the lease, or hidden fees throughout the lease. Many lease companies offer low (teaser) rates to attract business and then benefit from extra fees or hidden payments. In fact, the consumer actually pays more at the end of the lease than if they were partnered to a company that provided them with a lease that was written to their advantage. Dealers are frequently offered incentives from leasing companies to promote these types of programs to the consumer. Some dealers even represent their company names on leasing documents that are in fact “bank owned” leases. This practice is known as “private labeling”, and is deceiving to the consumer.
The real question to ponder is:
Was the lease written for the customer’s benefit or was it written for the benefit of the lease company or the dealer? Most obviously, it should be for the consumer’s benefit as much as possible.
Here are some questions that you should ask your office technology provider in order to ensure that the lease is written to your benefit:
- Beside my lease payment, what other costs can I expect throughout the lease?
- What are my obligations at the end of the lease?
- What are my insurance obligations?
- Is there a notification period required prior to the end of the lease?
- If my needs should change prior to the lease ending, what are my options for changing the equipment and how can we do so without a penalty?
What you can expect from Buckmaster Office Solutions:
- We offer our own genuine “in house” leasing when it makes sense, as well as leasing from trusted leasing sources that maintain an excellent reputation for fair and reputable business practices
- We will offer a lease written with fair terms and designed to the consumer’s benefit when possible
- We will provide an upgradeable lease and the ability to easily change equipment when needed
- Buckmaster Office Solutions is a company that you can count on when leasing is part of your office technology transaction
Contact us for more information on our leasing programs.
