Getting out of a copier lease can be a difficult process, as leases are typically legally binding agreements. However, here are six ways that you may be able to get out of a copier lease:
- Negotiate with the leasing company: If you are having difficulty meeting the terms of your lease, you may be able to negotiate with the leasing company to modify the terms of the agreement or terminate the lease early. It may be helpful to have an attorney review the lease and assist with negotiations.
- Transfer the lease: Some leasing companies may allow you to transfer the lease to another party, such as another business or individual. This can be a good option if you need to get out of the lease but do not want to face penalties or damage to your credit score.
- Buyout the lease: Depending on the terms of the lease agreement, you may be able to buy out the lease early by paying a lump sum or making payments over time. This can be an expensive option, but it may be preferable to continuing to make payments on a lease that is no longer needed.
- Default on the lease: Defaulting on the lease by ceasing payments may be an option, but it can result in damage to your credit score and legal action by the leasing company.
- Look for a lease termination clause: Some lease agreements include termination clauses that allow for early termination in certain situations, such as a change in business location or bankruptcy. Review your lease carefully to see if such a clause exists.
- Seek legal advice: If none of the above options are feasible, you may want to consult with an attorney who specializes in leasing and contract law. They can advise you on your options and help you negotiate a resolution with the leasing company.