Site hosted by Angelfire.com: Build your free website today!

Sample Letter of Intent to Cancel Copier Lease-- How to Cancel a Copier Lease

cancel lease
January 12, 2014 by bob the Copyguy

If you are leasing a copier for your business, professional practice or non-profit than your lease will no doubt have a specific term attached to it. A term simply means the length of the lease. Most copier lease terms are either 36, 48 or 60 months.
Most people believe that if they don’t want to keep the copier that the leasing company will contact them at the end of the lease and they can just send it back.
That’s where the mistake is made.
The leasing company usually will not contact you at the end of the lease and if you don’t send them a “letter of intent” to discontinue (cancel, terminate) the lease they will keep billing you the same monthly payment you’ve been from the beginning.
I’ve personally seen a real life case where a legal firm located in Baltimore, Maryland paid on their copier for an extra 2 years after the original lease ended.
With the amount of money they paid over the 7 years the could have literally bought 3 new copiers or 8 remanufactured copiers. All because they failed to understand when their lease actually ended and what their responsibility was if they wanted to end the copier lease.
Whether you want to send the copier back at the end of the lease or you want to purchase the copier from the leasing company you must send them a letter of intent to terminate or purchase during the time widow specified in the lease you signed. That time window varies by leasing company but typically is something like, “no later than 90 days before the lease ends but no sooner than 150 days before the lease ends”.
You may be wondering why you have to send a letter of intent to terminate a copier lease if it ends on a specific date anyway. That’s because in the eyes of the leasing company the lease isn’t over until they receive your letter of intent within the specified time window.
It gets worse. With some leasing companies if they don’t receive your letter of intent in time they may not only keep billing you the same monthly payment but they may renew your lease for a full year.
So if you were to discover that your lease ended 3 months ago and you contact the leasing company thinking you can just end it now you’ll be in for a nice awakening. If you want to terminate the lease after this full year automatic renewal has happened than the leasing company will say, “no problem, you just have to buyout out the remaining months plus a few early termination fees to boot”.
To make this l journey even more fun guess what happens if you were to forget to send in the letter of intent during the specified time window at the end of your one year automatic renewal? You guessed it, you get to spend another full year paying the wonderful leasing company.
If your wondering what a letter of intent should say then click on the link below for a template. Just fill in your info and send it off. I would recommend certified mail.
Letter of Intent to Cancel the lease
If your business is located in the Baltimore, Maryland, Washington DC or Northern Virginia metro areas please contact me ( bob@mycopyguy.com) to receive a competitive quote about 7 months before your current lease ends. It never hurts to get a competitive quote. My company carries Toshiba Copiers, Ricoh copiers, Savin copiers, new and remanufacured copiers

Sample Letter of Intent to Cancel Copier Lease-- How to Cancel a Copier Lease

cancel lease
January 12, 2014 by bob the Copyguy

If you are leasing a copier for your business, professional practice or non-profit than your lease will no doubt have a specific term attached to it. A term simply means the length of the lease. Most copier lease terms are either 36, 48 or 60 months.
Most people believe that if they don’t want to keep the copier that the leasing company will contact them at the end of the lease and they can just send it back.
That’s where the mistake is made.
The leasing company usually will not contact you at the end of the lease and if you don’t send them a “letter of intent” to discontinue (cancel, terminate) the lease they will keep billing you the same monthly payment you’ve been from the beginning.
I’ve personally seen a real life case where a legal firm located in Baltimore, Maryland paid on their copier for an extra 2 years after the original lease ended.
With the amount of money they paid over the 7 years the could have literally bought 3 new copiers or 8 remanufactured copiers. All because they failed to understand when their lease actually ended and what their responsibility was if they wanted to end the copier lease.
Whether you want to send the copier back at the end of the lease or you want to purchase the copier from the leasing company you must send them a letter of intent to terminate or purchase during the time widow specified in the lease you signed. That time window varies by leasing company but typically is something like, “no later than 90 days before the lease ends but no sooner than 150 days before the lease ends”.
You may be wondering why you have to send a letter of intent to terminate a copier lease if it ends on a specific date anyway. That’s because in the eyes of the leasing company the lease isn’t over until they receive your letter of intent within the specified time window.
It gets worse. With some leasing companies if they don’t receive your letter of intent in time they may not only keep billing you the same monthly payment but they may renew your lease for a full year.
So if you were to discover that your lease ended 3 months ago and you contact the leasing company thinking you can just end it now you’ll be in for a nice awakening. If you want to terminate the lease after this full year automatic renewal has happened than the leasing company will say, “no problem, you just have to buyout out the remaining months plus a few early termination fees to boot”.
To make this l journey even more fun guess what happens if you were to forget to send in the letter of intent during the specified time window at the end of your one year automatic renewal? You guessed it, you get to spend another full year paying the wonderful leasing company.
If your wondering what a letter of intent should say then click on the link below for a template. Just fill in your info and send it off. I would recommend certified mail.
Letter of Intent to Cancel the lease
If your business is located in the Baltimore, Maryland, Washington DC or Northern Virginia metro areas please contact me ( bob@mycopyguy.com) to receive a competitive quote about 7 months before your current lease ends. It never hurts to get a competitive quote. My company carries Toshiba Copiers, Ricoh copiers, Savin copiers, new and remanufacured copiers

This is your main content section.

You should delete all of this text and replace it with text of your own. You can modify any text on your page with the Text formatting tools at the top of the page. To add other content, use the Media and Add-ons tabs. If you'd like to change your style template click on Styles. To add or remove pages use the Pages tab.