Fair Market Value Lease
You will find the fair market value lease to be the most common of the leases. How does it work? When the lease term ends, you will have the option to purchase the copier at the fair market value. If you choose not to buy the copier, then you will have to ship it back to the leasing company. However, if you choose to do that, you can upgrade to a better copier. Fair market leases have also been referred to as the operating lease.
$1 Buyout Lease
The second most commonly found lease is known as the $1 buyout lease, which means that you can buy the copier for one dollar when the lease ends. Why would someone choose the other lease over this one? Because you pay more for this lease in interest and fees over the course of the lease. The leasing company will make their money one way or the other.
The 10 Percent Lease
The rarest copier lease, the 10 percent lease has sometimes been referred to as the finance lease. Businesses often select this lease when they want to keep their purchase options open. At the end of the lease term, the business may purchase the copier for 10 percent of the original price.
If you have further questions about leases, contact our company for further information. We can help you to decide on the best lease for your situation.