The Top FAQs About Leasing Office Equipment

The Top FAQs About Leasing Office Equipment

11/19/2024
Finger pointing at the word 'leasing' surrounded by icons associated with leasing

Is old, inefficient equipment weighing you down and reducing office productivity? It could be time for an office equipment refresh. The first step is to reach out to a Managed Print provider for a needs assessment. This professional review of your current office equipment will identify any gaps or opportunities for improvement.

However, not all Managed Print providers are the same. I encourage you to do your research and look for a Managed Print provider who has connections with leading office technology manufacturers, the expertise to craft a print fleet roadmap designed to reach your business goals and skilled service technicians who will not only fix a broken machine but will conduct proactive maintenance to prevent additional breakdowns.

In addition, consider how you will be paying for your equipment and services. In today’s business climate, many organizations are leveraging the power of leasing. But be aware, many Managed Print providers often outsource leasing and financing contracts to a third-party lending partner.

A smarter move is to contact Troyka-TC (GFC). Because GFC has the people, skills, manufacturing partnerships and an in-house lending division (GFC Leasing) with the flexibility to fit your changing needs. 


RELATED: The Ultimate Guide to Printer Leasing 


Get to Know GFC Leasing

There is just no way we can over-emphasize how critical it is to have a leasing & financing solution that makes an on-going optimized fleet possible. That is what GFC Leasing brings to the table. This in-house solution coupled with our dedicated leasing team makes a great customer experience possible.

Established in 1979, GFC Leasing has helped hundreds of organizations of all shapes and sizes to reach their business goals through office technology.

Having an in-house team with decades of experience working with office technology leases, means we know a thing or two about leasing business technology equipment. It’s common for prospective customers to have questions. That’s why we’re here to help!

In fact, we’ve answered a variety of leasing questions. However, there’s a short list of ones that we frequently hear. Wondering what they are?

Here’s the top FAQs we are asked about leasing office equipment: 

  1. How does leasing compare to buying?
  2. What kinds of business equipment can be leased?
  3. What does “in-house leasing” mean?
  4. What are the terms of the lease agreement?
  5. Are there any tax benefits to leasing?
  6. What happens at the end of the lease?

In case your question isn’t found in the list above, feel free to contact us! We’ll do the research and get a speedy response back to you.

How does leasing compare to buying?

Businesses both big and small have found leasing to be more beneficial to their budget than buying office equipment. Leasing usually doesn’t require a down payment or a large amount of cash like purchasing does. In fact, leasing allows for scheduled periodic (e.g., monthly or quarterly) payments and maintenance costs. Much more budget friendly!

In addition, leasing also protects against obsolete equipment, as a lease allows your business to be more agile with its funds.

What kinds of business equipment can be leased?

You might be able to lease a wider variety of office equipment than you might think. Check with your leasing provider. At GFC, we have offered leases for multi-function printers, copiers, scanners, communication systems, IT equipment, software, A/V equipment, security solutions and more!

What does “in-house leasing” mean?

In-house leasing gives you, the customer, an advantage. This means that your Managed Print provider services leases with their own staff. If you have questions about your lease, they’ll have information at their fingertips about your lease, your leased equipment and your company. Everything needed to deliver an outstanding customer experience.

What are the terms of the lease agreement?

It’s always good to read the fine print. Because not all leasing agreements are the same. Look for a leasing partner who offers a wide variety of lease lengths. For example, GFC has lease options ranging from 12 to 63 months. Also consider your payment options. Many businesses have monthly lease payments; however, sometimes company budgets are better suited for quarterly payments.

Are there any tax benefits to leasing?

Leasing can be financially advantageous to provide a predictable payment stream, minimize equipment obsolescence, free up cash for other business expenses and improve your return on investment (ROI). In addition, under the IRS Section 179 tax code, leasing can be 100% tax-deductible as an operational expense. This means you can deduct the full cost of the lease payment from your taxable income.

What happens at the end of the lease?

The following are the three most common lease types. Each provides a different option at the end of the lease term:

  • Fair Market Value Lease (FMV) – Purchase equipment at its determined FMV at the end of the lease, return it, or upgrade to new equipment. This type of a lease is also known as an operating or percentage buyout lease and typically has lower monthly payments than other types of leases.
  • Hardware as a Service (HaaS) – This is similar to a FMV lease, except there is no purchase option at the end of the lease. Ideal for businesses that intend to replace and upgrade equipment at the end of its useful life.
  • $1 Buyout Lease – The customer will own the equipment at the end of the lease for the price of $1.

Office Equipment Leasing with Troyka-TC

Through GFC, in-house leasing is available for more than just printers. We help customers navigate their leasing needs for business equipment and beyond! GFC Leasing was formed to provide a personalized, flexible way for our customers to lease business equipment and services. We offer flexible terms and straightforward end-of lease options and best of all, GFC Leasing will hold the lease for the duration of the contract. Looking to learn more about leasing? Download your free copy of our handy infographic

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