In business, nothing is permanent, except perhaps paying taxes. If you have entered into a copier lease agreement and there are valid reasons for you to break the lease, you can do so. It is unjust to remain in something that proves to be burdensome. You have legal options within your reach that will allow you to free your business from the agreement.
How a Lease Agreement Becomes Burdensome?
If you used to be so excited when you finally sealed the deal with your landlord, the same feeling may not be present the moment you can no longer afford to pay the monthly lease. A situation may arise wherein your company might be downsizing, which would also mean a lesser volume of copies produced per day. Another situation is signing an unfair agreement or that you learned that competitors are getting the lease at a much lower price. When any of these or anything similar transpires, then you may need to consider breaking the lease.
Cancel the Automatic Renewal
If you found out in your lease agreement that there is a provision for automatic renewal of the lease, don’t wait for the lease to expire but cancel the automatic renewal immediately. Once you do, you will not be bound to the lease for another year or your agreed lease period. One thing that you have to remember so as not to get hooked into this “auto-renewal” scheme is to read the terms and conditions of the lease carefully. If you are in doubt, you may consult a lawyer so that your interests will be protected.
Pay the Balance
If you want to end the lease contract but the expiration of the lease is still several months away, then you need to pay off the balance. This would free you from any legal ramifications. This will also ensure that you would not hear from collectors after you have already broken the lease. You will be released from the agreement without any worry. Just the same, verify in your lease agreement whether there are penalties involved if you would be terminating the contract early.
Refinance the Lease
This is the best option if you see that your present copy machine is no longer serving your requirements. You can always opt for your balance to be rolled over into another lease. This time around, the new lease would provide you with a better and more advanced copy machine. You get to have a new lease term, and at the same time, you also enjoy a better copy machine.
A Good Reminder
Many experts would recommend taking a separate copier lease from a copier service agreement. This is good practice since this will not compel you to remain in the lease throughout the service contract attached to the lease.
After having considered the possibilities and you feel that either of the options stated above will not work for you, then you may want to purchase a new one instead of leasing. However, you have to prepare to shell out a lot of cash if you opt for the former. Yes, you may not be paying monthly anymore; however, you need to have a lot of cash reserves. Some don’t find this economically feasible as compared to a copier lease in Washington primarily because of the huge expense that it would entail at the outset.
If you are in Washington and you are looking for a Copier for your business, you may contact Clear Choice Technical Services in Washington . You can ask about Copier Leasing Services in Washington , Copier rental services in Washington , and Copier Repair Services in Washington .
Leasing a copier has always been a popular option among businesses. You just have to make sure that the agreement you sign will not put your business in jeopardy. On the other hand, if you could no longer sustain the lease, then you could also opt to terminate the lease.