Late payment fees can become a great extra source of revenue for the leasing company if it can lock you into overly demanding payment terms. “Net-10 day” payment terms can prove to be difficult for businesses that are dealing with various forms of financial oversight. So, what happens? Copier lease payments are remitted late on a regular basis, and the lease company picks up some extra cash every month. Insist on 30 days to pay, and your business may save perhaps $20 every month. During the course of a 60 month lease, that’s a lot of money.
The documentation fee is is often referred to as a “doc fee” so that it is easier to slip into the sales conversation. This one-time fee at the inception of the lease may be $50-$100, and you receive nothing for it. The sales rep typically has the power to waive the fee in order to close the deal. Just ask the rep to “make it go away,” and the money is easily saved.
Avoid these traps that are all too common with copier leases , and the savings can be substantial.