How Do Lease Returns Work With Old Technology?

How Do Lease Returns Work With Old Technology?

Lease returns are a great opportunity to reassess your current technology needs.

For many businesses, leasing technology is both simpler and more cost effective than buying it. Rather than paying for new tech upfront, you’ll pay a monthly (or annual) fee to retain use of that equipment. That way, you’ll bear less of a financial burden, and the lessor will be responsible for maintenance, repairs, and replacements.

But as you approach the end of your lease, you’ll have to decide how to handle your aging technology. In some cases, you may be able to simply extend the lease, keeping it going for another term. In other cases, you may be able to keep the equipment, paying a fixed amount to gain ownership of it indefinitely.

Sometimes, you’ll want to return the equipment—which presents a unique challenge. How can you return your old equipment efficiently while making sure your data is secure?

Lease Return Management

Lease returns are challenging for two main reasons: first, it’s difficult to keep track of your inventory and ensure you return all your old equipment according to the terms of your master lease agreements. Second, you’ll need to find some way to fully erase all the data contained on those devices, to keep your organization secure and compliant.

In many cases, the best approach is to work with a lease return managing partner like e-Waste. Your partner will help you create an end-of-lease plan from scratch in the weeks leading up to the end of your lease. They’ll review your master lease agreements with you, identify the best strategies for recovering your costs, and put together a plan to erase all your devices’ data as securely and easily as possible.

Effectively, this approach will ensure you meet all lessor requirements, ensure your compliance with data security regulations, and minimize the possibility of fees due to damaged items, missing items, carryover, or late returns.

Are you contemplating your next lease return, or are you stuck with old technology you don’t know how to properly dispose of? Contact us for more information today!

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