End of Lease Options

When a photocopier lease reaches the end of its term you normally have four routes.

1. Return the machine. Hand it back in reasonable condition. Check the agreement for collection costs and fair wear and tear conditions.
2. Buy it. Pay the agreed residual amount and own the machine outright.
3. Extend. Continue on a rolling or reduced payment. Useful if the machine still does the job.
4. Upgrade. Start a new lease on newer equipment — the most common choice.

The one option that costs you money for nothing is doing nothing. Many agreements roll on automatically at the same monthly rate after the term ends, so diarise the end date well in advance.