Test your leasing knowledge Part II

Here is the second part of the test.  Email me if you would like the answers at smurr@offsiteequipment.com.

14 You are in a closing with a client and before they sign they ask how much more it would
add to their payment if they added an accessory.  You know the accessory is $2,000.00.
The agreement is 60 months FMV.  What do you say?  (No using rate sheet).
15 The next question they ask you is how much they can buy the machine for at the end of
their lease.  What do you say?
16 What is an annual escalation?
17 How much is the escalation for your competitors on a CPC?
18 What is fixed term pricing?
19 On a competitive deal, you see your competition is quoting a CPC of .0495 for 5000 pages with an
overage of .012.  The agreement is for 36 months fmv.  Approximately how much is it they are
20 How much do you add to your lease factor so your lease rate does not escalate each year?
21 If we are taking out a competitor’s gear for a new customer and they have 18 months left,
how does that process work? What does the customer sign, what is the customer responsible
for and what is your dealership responsible for?
22 A customer calls and tells you they are going out of business and their office is closing, the office
will be vacant and cleared out in a few days and the equipment needs to be picked up right away.
What are the next steps you take and what do you tell customer?
23 What does FMV stand for?
24 What are renewals or the evergreen clause?
25 How do renewals financially impact upgrading your current customer?
26 What is the name of the clause in the lease that only state and municipalities qualify for?

Offsite (www.offsiteequipment.com)  provides a full suite of services for both independent dealers and national branches.  Our services include:

  • Outsourced administrative services on competitive lease end management.  Offsite can contact your clients to remind them to send in their Letter of Intent for their old equipment, follow up for return shipping instructions, and manage their return shipping logistics.
  • National network of warehouses available to pick up and store leased assets that cannot be returned early.
  • Lease return shipping and copier moves.
  • Outsourced lease administration, Offsite can process your deals for funding on a per transaction fee thus reducing dealers operating expenses.
  • Program Agreement negotiation, back office consultation, lease sales training.  Increase leased sales %, secure lower rates, increase credit approval percentage guaranteed.

Visit our website today at www.offsiteequipment.com .  At Offsite, we know logistics and we know copier leasing, our services are second to none.

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