The final part of our 3 part series. For the complete test or answers, email me at
27. Your customer has a large payoff, the leasing company rules say you can go
how much over MSRP and still agree to book the total deal?
28. If the leasing company agrees to 125% of retail at FMV, You are funding
$150,000. Retail is $100,000.00. 60 month term is what you are selling.
60 month dollar out is .0229. what is the blended payment and blended rate factor
in this example?
29. Name two things you can do to lower your lease rate without asking for a rate
30. Name 2 leasing sources who will approve mortgage business based on legal name,
address, and ph#.
31. Acme Corporation is a current customer who has a lease with US Bank. If you send
the new deal to US Bank, the cost to close out the old lease is $2,500.00. If you send the
lease to another source, the cost to close out the old lease is $3,500.00. If US Bank declines
the customer’s credit request and CIT approves them, what dollar figure do you need to
build in your new deal?
32. What document is required for any tribal leases that is not required for standard
33. Why do dealers escalate service and bundled payments?
34. When a customer wants to add language to a lease or make changes, where do you
35. Who decides if a lessee is tax exempt?
36. How do you include property tax in a lease payment so a customer will not be billed it
37. What does “arrears” mean?
38. When do you use a Co-terminous lease rate?
39. Your customer asked you for and was provided a buyout to own quote. The
customer has told you they are interested in proceeding with buying that equipment,
what are the next steps?
40. Your customer is within 90 days from their lease coming to term and renewing for
12 months. They have told you they are happy with their system and to check with
them again in a year. What are the next steps you take?
41. As a standard rule, when a lease with a $1.00 purchase option reaches the end of the
term, if the customer has not sent in their written notice, how many months will their contract
auto renew for?
42. A national company headquartered out of Minnesota has an office located in your
territory. You won the deal. The branch has been located at the same local office in your
territory for 20 years. What address do you put on the credit application?
43. You are proposing a 60 month FMV CPC deal. You want to fund $9,250.00 and the
CPC the customer will agree to is .0369. Service rate is .012. How many pages per month
will the customer need to agree to in order to make that pricing work?
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