Watch Out for Automatic Rollover
Are you aware of everything that is stated in your lease. It’s common for people to figure out what they are responsible for during their lease, but then not pay attention to rules on the back-end of the lease. This can get you into trouble, especially if automatic rollover was included in your copier lease.
Automatic rollover on a copier lease gives your leasing company the ability to continue your lease passed your initial termination date. It basically will state that your lease will continue unless you specify otherwise.
Many people forget, or are not aware, that this provision is in their lease. This can lead to additional months of service that you did not plan for. Soon your budget is incorrect and your plans for your business are miscalculated.
Watching out for automatic rollover in your lease is part of doing your due diligence. If you know that it is there then it’s easy to avoid any problems.
- Look for automatic rollover in your copier lease
- If it is there then find out when you need to terminate your lease. This is usually about 90 days before the lease “ends.”
- Mark that date on your calendar
- Make sure you terminate your lease before that date.
If you miss the date to cancel your lease then there is very little that you will be able to do. You will have no legal recourse and will be stuck with your copier for additional time. Take the time to read through your lease before anything like this happens to you.