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Tagged With "Lease"

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Re: Is This the Beginning of the End for the Padding of Lease Rates?

fisher ·
If anything you should be bumping outright purchase prices and discounting leases. The customer who purchases their equipment outright keeps their equipment too long and may go elsewhere when the time comes to upgrade anyway.
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Re: Is This the Beginning of the End for the Padding of Lease Rates?

Kyocera Guy ·
Maybe not such a bad thing. This makes shorter term leases with less interest more attractive and therefore leases can be turned faster as long as your not padding your leases to begin with.
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Re: Is This the Beginning of the End for the Padding of Lease Rates?

Old Glory ·
This bill may not apply to Fair Market Value leases. There is no mention of establishing the residual value of the asset which makes the interest rate impossible to calculate. Is a .0278 rate on a 36 month FMV truly -0- interest? Of course not. If you don't end up with title to the equipment, you really haven't financed anything. What is the interest rate on a Hertz Car Rental? What is the difference between that an a 36 mth FMV other then the length of term?
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Re: Is This the Beginning of the End for the Padding of Lease Rates?

Lease Maestro ·
Hello Art and the rest of the P4P members - Our industry association (ELFA), along with several independent law firms that represent many of our industry members are reviewing this legislation to determine the actual effects it will have on the industry as a whole and to provide guidance so that our members will be in compliance with the legislation. What we know at this point is that is you are involved in offering financing to businesses in California, you will be subject to this...
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Re: Is This the Beginning of the End for the Padding of Lease Rates?

Czech ·
Padded lease rates are used to "pad" the pockets of dealer principals who are taking commissions away from their sales people. It's a dishonest but standard practice that should be eliminated, so this sounds like healthy change in the right direction.
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Re: Is This the Beginning of the End for the Padding of Lease Rates?

Art Post ·
In some cases, more is made on the lease padded rate than the salesperson makes in commissions. Others may tell you that they use the "padded" rates to create promo's for the reps. Do I look like I need an incentive to sell? Frak that, if you need an incentive to sell then you need to get a job at Mickey D's
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Re: Is This the Beginning of the End for the Padding of Lease Rates?

Lease Maestro ·
Here is a report from leasingnews.org. One of their legal editors is doing a three part review of this legislation. Leasing News Exclusive: State Senator Steven Glazer and the genesis of CA SB 1235 (Part 1 of 3) By Tom McCurnin Leasing News Legal Editor This is important not only if you are doing commercial business in California, but this may affect other states. If you are new to this, here is legislation passed both the assembly and senate, awaiting California Governor Jerry Brown’s...
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Re: Is This the Beginning of the End for the Padding of Lease Rates?

Lease Maestro ·
Part Two: Leasing News Exclusive: The Opposition and How Senator Steven Glazer Got SB 1235 Passed (Part 2 of 3) By Tom McCurnin Leasing News Legal Editor The bill was "Engrossed and Enrolled" and presented to the Governor at 5 p.m., September 12th, awaiting his decision to sign or veto. How He Pushed It Through the Legislature What are the takeaways from this interview and SB 1235? ▪ First , I Was Surprised at the Overwhelming Support of Trade Groups for the Bill. When he rattled off the...
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Re: Is This the Beginning of the End for the Padding of Lease Rates?

Lease Maestro ·
Part Three Leasing News Exclusive: Is the Disclosure Too Complicated? State Senator Steven Glazer Position on CA SB 1235 (Part 3 of 3) By Tom McCurnin Leasing News Legal Editor The bill to require full disclosure of interest rates is awaiting Governor Jerry Brown's signature. It was reviewed to be recorded and sent to his office late last week. It seems unlikely he will not sign it as it passed the State Assembly 72-3 and in the Senate 28-6 .It then will be up to the California Department of...
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Re: Is This the Beginning of the End for the Padding of Lease Rates?

Old Glory ·
from today's Leasing News. Ralph Petta Reaction to Tom McCurnin's "Is the Disclosure Too Complicated? of SB 1235" [ http://leasingnews.org/hires/petta_ralph2018.jpg ] From: Ralph Petta President and CEO Equipment Leasing and Finance Association 1625 Eye Street, NW * Suite 850 Washington, DC 20006 "Allow me to take exception and set the record straight with respect to Mr. McCurnin's statement in his September 21 article(1) about passage of disclosure legislation in California, SB 1235 that...
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Re: Leasing Companies are not Exempt from Changes

Lease Maestro ·
Wow - that was quite the read. While there are a few details that I have a differing opinion on, I cannot agree more with Ray on the the fact that change is coming and the Leasing industry has not choice but to change with it. The question is not "will leasing companies change", but how much will they change and how much will they be able to change within their existing framework. Many of these leasing companies are part of larger banking organizations and will the regulatory and legal...
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Re: Leasing Companies are not Exempt from Changes

Ray Stasiezcko ·
Thanks for commenting the first step to change is the ability to discuss why you should. As all of know change is usually a forced reaction unfortunately. I would say that the real disruptions to any deliverable are those which come from new places. too many see their competitors as someone like them. Today we all need to look in new places. Regarding Quicken I believe the mass market they attract are not 800 plus credit scores. The interest paid by end-users doesn't need to necessary be...
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Re: Canon imageRunner C203o lease_order docs.pdf

muleyman ·
The peeps didn't even fill out the customer service agreement correctly! Starting meter: $0.0095?!?! GREAT profit though
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Re: 8 Tips to Help You Buy or Lease a Copier

Kitz ·
How do we know if our company is listed as a prefered vendor?
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Re: 8 Tips to Help You Buy or Lease a Copier

Art Post ·
Buy having a premium membership
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Re: 8 Tips to Help You Buy or Lease a Copier

Art Post ·
In reality if there is only one premium member at the company only that premium member would get the lead, we hope the lead is not shared with a non premium member at that same company.
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Re: Advice For Starting An Unauthorized Copier Dealership

fisher ·
Create a mutually beneficial relationship with an authorized dealer. They help you. You help them.
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Looking for Copy of Canon Flate Rate program

Art Post ·
Does anyone have a copy they can email me? lease and sales order
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Best (For Getting Startups Approved) Leasing Companies

copier-seo-guy ·
We have a gap in trying to get startups and borderline credit people approved. Anyone finding a particular bank better for getting tricky deals done?
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Five Items Spock Would Consdier Illogical About Purchasing or Leasing a Copier

Art Post ·
Friday at lunch, I saw the scrolling marque that Leonard Nimoy had passed away.  Leonard was best known for his role as Spock in the original Star Trek series.   Like my mother, I'm a fan of science fiction and believing that one day...
Blog Post

Ten Things You Need To Know Before you Lease or Buy a New Ricoh MP C3004 & MP C3504

Art Post ·
Ever hear of a color multifunctional copier on steroids? Me neither, however if there was such a device it, the Ricoh MP C3004 (prints up to 30 pages per minte in color) & MP C3504 (prints up to 35 pages per minute in color) would be my choice. In fact I would PEC's for Performing Enhancing Copiers. Unheard of in the market place, these two PEC's are outfitted with 220 Sheet Single Pass Document Feeders. Some may as, what the heck is a single pass document feeder? Single Pass is the key,...
Blog Post

12 Tips on How to Return Leased Copiers

Art Post ·
Over the years, I would say that 90 percent of my clients leased their copiers with an option to buy the copier at the end of the term. Most of these leases had a buyout option for FMV (Fair Market Value). The general idea of an FMV lease is that the customer has no intention of ever owning the equipment and they will return it at the end of the lease. Also means lowest lease payments. Most leasing companies have been and still are very aggressive with FMV rates (interest), however most will...
Blog Post Premium

31 Ways to Close More Sales (#5 of 31)

Art Post ·
For those of you that are new to the site and or are viewing this for the first time.  The 31 Ways to Close More Sales is a weekly Blog and is Premium content, thus you'll need to enable a Premium Membership to view.   You're wrapped in the...
Blog Post

Little Story About a Man Named Jed

Art Post ·
My turn for a rant!!!   It's late, I'm going to go through this rather quickly so please stay with me. I had an existing account that was shared with a Direct Branch. The Direct branch had the majority of the placements, while we had three units...
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Compass Sales Solutions is Partnering with DLL for Lease Document Automation!

Art Post ·
Compass Sales Solutions is Partnering with DLL for Lease Document Automation! Boise, Idaho – November 2014 – Compass Sales Solutions, the industry leader in sales opportunity software, is proud to announce that we are partnering with De Lage Landen (DLL) for Lease Document Automation. Compass is proud to announce a new partnership with De Lage Landen (DLL), allowing Compass Sherpa users to automate DLL lease documents. If you love your automated proposals and lease documents from other...
Blog Post

Ten Things You Need to Know Before You Lease or Buy a Ricoh MP 501SP or MP 601SP

Art Post ·
Geesh, where do I start? When I first heard of the MP 501/601SP's, I thought this was just another mediocre multifunctional (copy, print, scan, fax) A4 device. I assumed the device was designed for low, low volume and would have a high cost per page. I was dead wrong in my assumptions. In fact, I couldn't be happier with the features, the speed, the hardware cost and the consumable cost of the MP 501/601SP. BTW, the MP501/601SP will not win any design awards, it looks kinda funky, but the...
Blog Post

DUDE! Where's my Copier?

Art Post ·
I've seen this scenario come true all to often. Really? Dude, where's the copier you took outta here three months ago! The leasing company is still billing me because they stating that they don't have the copier you took outta here, plus since you didn't get them the copier in time, they renewed my lease and told me I have to make another year of payments!! DUDE...Where's My COPIER! I can imagine there's been many conversations like this between customer and manufacturer over the years. It's...
Blog Post

Twleve Days of Christmas "What my Copier Company Offered to Me"

Art Post ·
I first wrote this blog about seven years ago, thus I've changed it up a bit to be relevant. When writing this, I asked for the wife for some input, she obliged and helped me out with a few of these. Selling isn't easy, especially this time of the year.  On the  First day of Christmas, my Copier Company gave to me :   One new copier lease to sign now On the Second day of Christmas, my Copier Company gave to me:   Two in person visits to buy it now and...
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Marlin Leasing Doing the Dirty Deed to Dealers?

Art Post ·
Heard from an excellent source that Marling Leasing is contacting existing clients and emailing them rate factors and taking the dealer out of the transaction for equipment.  I'm hoping to have more from my source, was suppose to email me more.  Has anyone else seen or heard of this?
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Does Your Copier Dealership Offer A Bakers Dozen?

Art Post ·
It was the Eighties, we were in New Jersey, and I was leading the pack of six copier sales people.  We were all in our twenties, single and making oodels and oodles of cash selling plain paper copiers!  Station wagons, hatch backs, pickup trucks, copier guerney's, rolodex's, change for pay telephone calls, yellow page books, business street directory books, mucho phones, mucho demonstrations, delivering your own copiers, and training end users were the staple of the copier...
Blog Post

57 Days of Selling "Day 41"

Art Post ·
Yes, I'm somewhat behind on my blog posts. I was reminded of this when I arrived at the office this morning. Friday, was not one of my better days, still fighting what ever bug someone gave me. I was able to accompany our resident rookie to an appointment with an existing account. This account had recently received a repair estimate for a duplicator that was almost seven years old. There was no maintenance agreement in place, and the estimate for repair was in the very low four figures. We...
Blog Post

57 Days of Selling "Day 48"

Art Post ·
I've just gotta start writing these blogs earlier. It's past 10PM and I'm struggling with remembering how the day went! I just finished up the weekly email up date, along with some recent press releases. Seems this week and probably next week will be slow for Press Releases from the manufacturers. After that tough Friday, I was determined to change things around. In order to get that $48K opp sold, I knew what I needed to do. Funny, some of my peers will poke fun of me for doing what I do...
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New copy machine lease to help Y-S schools save money

Art Post ·
The Yellville-Summit School District should be saving roughly $1,500 from what it spent last year this coming January, a decision board members made after voting on a bid to lease copiers from Ricoh during a meeting Monday. The district is leasing a total of 15 copy machines: six large machines and nine smaller ones that will be making about 1,000 copies a month. The bigger ones make the bulk of the copies. Each office will have its copy machine, including the high school and middle school.
Blog Post

57 Days of Selling "Day 47"

Art Post ·
Just watched the Giants go ahead of the Cowboys, go BIG BLUE GO! It's late, almost 11PM. Over the weekend I lost a day on my sales calendar. That my friends was a mess up on my part. I have ten days left in the month, not eleven, unless I missed a post somewhere. I'll make up those hours this week with putting in some extra time. Friday, well..., was not the kind of day that I was hoping for. I had the 11AM appointment for that $48K opp, in addition I found a few mistakes when double...
Blog Post

Eight Excellent Reasons Why the Ricoh MP 305SPF Should be Your Next Copier Lease or Purchase!

Art Post ·
Years ago with the emergence of A4 (devices that can only print/copy letter or legal paper), we had to adjust our talk track to add, "do you need to print, copy or scan 11x17 (tabloid) size paper. That first question would help us determine if the client was a candidate for an A4 or A3 (devices that can print/copy/scan tabloid) device. Ricoh's new MP 305SPF gives us a new wrinkle when proposing the right system for our clients. The claim to fame for the MP C305SPF is that clients with...
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What Would You Do?

Art Post ·
Need to make a long story short, below is a few bullet points for everyone; existing account (4 years) has a few months left on a 39 month lease has 6-9 print devices from us color 50 plus ppm device 50-100 employees I pitched the client on upgrading the existing lease. Able to reduce their lease by about $45 per month. Client was ok with that, I sent the order docs and the lease to the client, within a few hours they came back signed. I opened the lease doc and was surprised that I put the...
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Xerox sued over leasing fees and business practices

Art Post ·
A California company has filed a federal lawsuit against Xerox Corp., seeking class-action status, claiming the global document technology company charges excessive and illegal fees for services, equipment and supplies. “Xerox induces individuals and entities to contract for equipment and supply services without disclosing the true cost of such services,” according to the 22-page complaint filed in U.S. District Court in Rochester on Tuesday. “Xerox also buries unconscionable and...
Survey

Future P4P Hotel Webinars Survey

Art Post ·
I heard from a number of members after today's KM One Rate Webinar. Everyone was very positive over the content of the material we provided. I'm now thinking of providing one webinar a month on a topic that our members would like. I've put a few suggestions below that you can vote on and feel free add in since we've turned on "Allow Write-In Responses". In addition you can select more than one answer. Special thanx to Monte for this idea.
Blog Post

Leasing Companies are not Exempt from Changes

Ray Stasiezcko ·
Those in the technology industry face many challenges caused by innovation, new competitors, and changing buyer habits. Regardless of your core function in the technology deliverable whether you are a manufacturer, software provider, lessor or a reseller who delivers equipment and its services to the end-users, no one can assume yesterday’s circumstances will remain relevant tomorrow. Today all leasing companies in the channel are delivery models based on a monthly payment where hardware is...
Blog Post

Leasing It's time to Innovate

Ray Stasiezcko ·
Blog Post

Is This the Beginning of the End for the Padding of Lease Rates?

Art Post ·
First off, I'm no expert in the equipment leasing business; however, but I have some peeps that are. A few days ago I caught a thread on Linkedin reposted from @KeithHachey (Americorp Financial LLC). See the pic below. The first item that caught my eye was the hashtag #leases and then the text at the bottom for "Impact of Senate Bill 1235 on Equipment Leases. Of course I followed the link and it lead me to the web site for the State of California Legislative for Senate Bill 1235. Bill 1235...
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Re: Marlin Leasing Doing the Dirty Deed to Dealers?

txeagle24 ·
I have not, but we don't use Marlin, & I don't know of any major competitors in our area that use them as one of their primary leasing partners.
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Re: Marlin Leasing Doing the Dirty Deed to Dealers?

Jason H ·
It wouldn't surprise me. I'm amazed at how some of these leasing companies will,screw their dealers. We use Great America primarily and I like the fact that they just want to be the financial arm of the transaction and leave everything else to us and the customer. The rates are a little higher but for the relationship and lack of problems I'll take it.
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Re: Marlin Leasing Doing the Dirty Deed to Dealers?

Jason H ·
A long time ago we had a problem with Providence Capital and i brought it up as a warning on this board about using them. I had forgotten but that is what they wanted to do. They did not want us talking to the client about the leasing. They wanted to have the conversations with the clients themselves and keep us out of it.
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Re: Marlin Leasing Doing the Dirty Deed to Dealers?

Old Glory ·
Marlin is the bottom of the heap as far as scruples go and anyone who uses them deserves what they get.
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Re: Marlin Leasing Doing the Dirty Deed to Dealers?

David Scott ·
Our dealership has had a great relationship with Marlin over the last two years. They are a publicly traded company and act like one in the dealings we have had with them. We have built a multi-million dollar portfolio with them and couldn't be happier. I would ask your source for proof and talk to your Marlin Biz Dev Manager.
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Re: Marlin Leasing Doing the Dirty Deed to Dealers?

Old Glory ·
Until you reach the end-of-lease issues, you really can't judge any leasing company and especially Marlin. We developed a business model that Marlin agreed to and had their attorney's draw up in an agreement. We signed and returned but failed to get a signed copy back. That's all Marlin needed to renege on everything. It was a contract drafted by their people that they would not honor in the end. If they made you any promises, get it in writing and get a signed copy returned.
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Re: Marlin Leasing Doing the Dirty Deed to Dealers?

Jason H ·
I also will add that I do know Marlin is, and probably has for years, sending letters to the customer about a year out talking to them about buying the equipment from them before the lease expires. I'm quite amazed at the short sightedness of this as one, they will lose dealers for a quick sale with a buyout, and two, instead of writing a new lease quickly they will now have a situation where the customer will keep the equipment for several or many years past the expiration of the lease.
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Re: Lease Equipment Return Summit

Larry Kirsch ·
Interesting venue... Who is hosting??? Larry Kirsch 516-650-7432
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Re: Lease Equipment Return Summit

Art Post ·
The meeting will be led by BTA General Counsel Bob Goldberg and will take place at the Radisson Blu Mall of America on Wednesday, May 6, 2015. The Summit will begin promptly at 1:00 p.m. BTA is inviting all interested leasing companies, manufacturers, shipping companies, resellers and dealers. Also attending will be representatives of the Equipment Leasing and Finance Association. Legal Counsel will be present to assure compliance with antitrust laws. (The details for the Mid-America event...
 
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