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: 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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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...
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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,...
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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...
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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...
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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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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...
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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...
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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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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...
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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...
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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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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...
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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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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...
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Leasing It's time to Innovate

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

Rafael Machado ·
Good machines, if you need 11x17 size paper, but I would go a different route if the customer does not need it, cheaper and reliable A4 machine like the Kyocera CS356
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Re: Ten Things You Need to Know Before You Lease or Buy a Ricoh MP 501SP or MP 601SP

msaeger ·
I suggest calling your local Ricoh Dealer (not direct), because dealers can offer better service, better support and they support your local economy. I am sure that varies with location.
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Re: Does Your Copier Dealership Offer A Bakers Dozen?

Tony ·
I was explaining the Bakers Dozen to a rep about a week ago. I used it all the time about 17-18 years ago. It was an easier sell for people that were opposed to a lease.
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Re: 5 Reasons Why I hate My Comp Plan!!

Art Post ·
Maybe it's time to find a new home? Times are tough all over. But, you do have a few valid concerns. Do you get a salary or is your comp plan commissions only?
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Re: 5 Reasons Why I hate My Comp Plan!!

Larry Kirsch ·
Re negotiate your comp plan. Are you receiving a significant salary? Ins coverage? Perks?
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Re: 5 Reasons Why I hate My Comp Plan!!

Ken Stewart ·
Great post. Sounds like the frustration level is at a boiling point. One thing I can offer is in regards to the delivery/install fee, this is not as scalable as you might think. But in my time at a dealership the company president, sales managers, and I designed a plan that would scale based on speed segment and quantity. So, with some TLC, your company should have some wiggle room here rather than just stamping a flat fee on everything. The other thing we did was bundle the price into the...
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Re: 5 Reasons Why I hate My Comp Plan!!

Larry Kirsch ·
It helps if salesperson is at quota. May have compassionate ear . Best of luck. May be a good idea to consider working on a contract basis , need to have the business and confidence and resources to do so. Don't plan on many incentives other than making your own fortune... Best wishes...
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Re: 5 Reasons Why I hate My Comp Plan!!

bobsynergy ·
We offer salary + comm. At dealer cost, no lease pad, 30% existing accounts, 40% new accounts, 5% bonus with growth. $200 install 1st, $100 additional units. questions - bobb@synergyoffice.com
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Re: 5 Reasons Why I hate My Comp Plan!!

Walter Thomas ·
Maybe after 22 years, you should start your own dealership to be on the flipside of your comp plan concerns. But...oh...wait. That means that YOU have to put up with all the risk.
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Re: 5 Reasons Why I hate My Comp Plan!!

Art Post ·
I took the dealer leap back in 1986 and did it for 12 years, I'd still be doing it today. However, I had one lazy partner and another who was, well lets say he was a lot like Slip Mahoney in the Bowery Boys. Risk is inherent in everything you do, from crossing the street to driving from appointment to appointment. Does taking the risk mean that you're allowed to charge whatever you want, well, yes it does. On the flip side, I'd bet dollars to doughnuts there is a high turn over. That's not...
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Re: 5 Reasons Why I hate My Comp Plan!!

Philip ·
Hello Ghost - i feel your pain and especially having been there in the same boat as you. My former employer marked up hardware by at-least 30% and lease rates by 4 to 5 points. Having transitioned to my own dealership 5 years ago, we do things differently. If you are looking for a partnership opportunity (you can be located anywhere in the USA), get in touch with me. For others reading this and interested in running your own copier sales business, please contact me. You must currently be in...
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Re: 5 Reasons Why I hate My Comp Plan!!

John Saramak ·
I am developing a new comp plan for my team which I will implement in 2015. My intent is to establish a GP based plan which has a minimum for a rep to cover salaries/guarantee's, commissions over draw, related employment cost (FICA, benefits, insurances), and a contribution towards branch expenses. Considering a $40,000 annual pay guaranteed, we are looking at a 96K GP quota. Above that we are looking at 50% sharing of GP, maybe a kicker for a 150% performer. With $150.00 delivery charges,...
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Re: 5 Reasons Why I hate My Comp Plan!!

Larry Kirsch ·
Might work. Of course will require managing customary ingredients for sales to achieve above quota results... Best of luck...
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Re: 5 Reasons Why I hate My Comp Plan!!

Art Post ·
John GP Quota's is what I grew up on. Revenue Quota's are not healthy for the sales people, but good for the dealer. I'm 34 years in the business and still have yet to hit monthly, quarterly and yearly in the same year. Although GP commissions is not what it used to be
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Re: 5 Reasons Why I hate My Comp Plan!!

Old Glory ·
I was reminded today of the "Few Good Men" parody. I thought this might be a good forum to reintroduce it. I'm certain it will be the best 3 minutes of your day! http://www.youtube.com/watch?v=-mcpMM1w1qY
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Re: 5 Reasons Why I hate My Comp Plan!!

Art Post ·
Awesome first time I saw that
 
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