Tagged With "Rate"
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Re: 6 Reasons Why Flat Rate Service Program Will Change the Copier Industry
Art, a terrific take on the changing forces in the business model of the industry. Moneyball has arrived in the imaging business.
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Re: 6 Reasons Why Flat Rate Service Program Will Change the Copier Industry
Thank you Tom, writing it brought back some awesome memories
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Re: Post KM Flat Rate Webinar Follow Ups
Art, you sent me a copy of the One Rate Seminar, but now I can't find the link. Could you please resend it to me? Ken Lee Sales Manager Ephesus Office Technologies, Inc.
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Re: Ethos Tech Flat Rate
If you don't think that One Rate or Flat rate will sweep the industry , then think again! Need to know more? Ask me our about One Rate Webinar scheduled for the 14th of this month. apost@p4photel.com
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Re: Is This the Beginning of the End for the Padding of Lease Rates?
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?
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?
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?
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?
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?
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?
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?
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?
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?
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: Cost Per Copy and Rate Lock
We've offered locked in rates for years (Ricoh equipment.) It takes a little explaining on the front end as to why your rate is slightly higher but I think people like the idea of not having to watch over their bill for increases. However most of my leases are only 36 months.
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Re: Cost Per Copy and Rate Lock
Well do rate locks also, but there has to be some GP in the deal, since it will come out of the sales person "skin". You should be looking at the T's & C's of the agreement because they may charge excessive dollars to ship supplies. (charging $20 per shipment per month can be quite the upcharge). Also be on the look out for verbiage in the maintenance supply agreement that states something to the effect, "that we can cancel or charge you more if you use too much toner aka fill) Hope this...
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6 Reasons Why Flat Rate Service Program Will Change the Copier Industry
I remember when plain paper copiers used rolls of paper and not sheets. I remember when the glass on the copiers had to move back and forth. I remember when copiers used liquid ink (toner) to produce an image. I remember when you used a dial to set how many copies you wanted to make. Yup, it's been a pretty incredible journey to see the industry evolve over the last 38 years! Back in the early eighties their was only one plan for a copier maintenance agreement. We included "x" amount of...
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Post KM Flat Rate Webinar Follow Ups
I'd like to thank the 60 or so peeps from dealers across the US that took the time to view the webinar today. We even had a rep from Norway in on the call, thanx again for your time and your interest in our webinar today. For those of you that are Premium/VIP Print4Pay Hotel members (FYI, we have a $99 Lifetime Premium/VIP special running now). The three documents that I promised along with the link for the recording has been posted in our Premium/VIP forums.
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KM 1 Rate aka Flat Rate (unlimited clicks)
With all of the hubbub about unlimited clicks with KonicaMinolta and now a few dealers. We'd like to hear your thoughts with our new survey. How Long Do You Think the Entire Industry will Make the Change to unlimited clicks?
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Is This the Beginning of the End for the Padding of Lease Rates?
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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How to Implement Your Own Flat Rate Program "registration link"
We're pretty excited about the response from P4P'ers. As of today we have 52 RSVPs. If you're interested and have not RSVP'd we can add another 23 members now. I expect this to be a max event so please make sure you RSVP here and I'll send you the registration link. For those that have RSVP'd the registration link is below. The date is set for November 19th at 4PM Eastern Standard Time. I copied the below content from the Webinar registration page. " In this highly anticipated webinar event,...
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Ethos Tech Flat Rate
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Re: Lease Rates to die for!!
Originally Posted by txeagle24: I would kill for those rates. I figure it this way, for every 10K of leasing business if your rates are padded to the tune of over .0200 and you are getting the rate of .01817, you're $1,200 in the hole already when competing with someone who is not padding the rates. You can also think of it this way, lets say your selling production and the cost is $30k and the mu is 15%, that means before you even add GP the dealer or direct is already pocketing $8,100...
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Re: Lease Rates to die for!!
Hello BLavey - There are many variables that can affect the rate factor (brand, model, special lease terms, etc), but I can give you a rough idea of what you may be looking at. 36 Month, FMV: .02716 - .0284 48 Month, FMV: .0222 - .0228 60 Month, FMV: .0178 - .0184 If you are a Ricoh dealer, I know that US Bank had some special rates that may be go as low as .02666 for 36 months. I'm not sure if these rates are still active. Additionally, if you are a Konica dealer, US Bank very recently had...
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Re: Lease Rates to die for!!
What the hell..? Those lease rate factors are ridiculously low. Your 24 month LRF is lower than then average 60 month LRF. Aren't these low interest rates exactly what got the banks into trouble in the first place back in 2008? It's not sustainable if you want to flip those accounts again in 3.5-4 years with higher rates...
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Re: Lease Rates to die for!!
It's not the low interest rates that got the economy in trouble it was the people that got it in trouble.
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Re: Lease Rates to die for!!
US Bank Ricoh Promo rates are lower than these, at least in deals where the equipment being financed are Ricohs. Of course, that is because Ricoh is most likely subsidizing the rates. Most of a lease company's profits do not come from interest but from "alternative forms of revenue" that the lease generates i.e. late fees, forced insurance, evergreen clauses, exaggerated property tax, restocking fees, etc. just to name a few.
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Re: Lease Rates to die for!!
Art, Your over $10k 48 month FMV is pretty good. We get .0225 - .0229
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Re: Lease Rates to die for!!
Partner 1 Over 3K 36: .02787 48: .02282 60: .0187 US Bank is even lower for Ricoh and GE is also lower on Kyocera.
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18 Questions to Rate Your Copier Dealership
I thought I would pull this blog from the archives on the old sight. Even though this was written 6 years ago. They are all GREAT questions! It's time for another Guest Blogger. I have know Mike Kaprinski for 6 years and I consider him...
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What is MY Lease Rate?
I've had this quest proposed many times and have skirted around the issue, here's a nice link that seems pretty precise. I'll be saving this as a favorite! click here
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Lease Rates to die for!!
I'll admit it's been some time since I was concerned about lease rates. I 'm aware that many dealers and direct "bump" the rates. I have not asked to see current rates here on the forums for awhile, you know it's coming right, however I had some...
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1 Rate aka Flat Rate
It's been more than a year since the 1Rate aka flat rate program from Konica Minolta. There's also been some dealers that have launched their own programs. Thus we and other P4P members would be interested in knowing how many time you're up against the 1Rate or Flate Rate program.
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Cost Per Copy and Rate Lock
I've bumped in to this a few times in the last few weeks and wanted some input. Lately we've been up against a plethora of lower tier devices (Kyocera/Sharp/Toshiba boxes). In 3/4 of these situations, several of the competitors have been able to lock clicks for the term of the lease. They're coming in at $.0069 - $.0074 / $.04-$.05. Is this the new normal or has this always been an acceptable locked click rate?
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Looking for Copy of Canon Flate Rate program
Does anyone have a copy they can email me? lease and sales order
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Re: How to Implement Your Own Flat Rate Program
I would like to be involved in the build your own one rate program. Bryan Blakeman General Manager Valley Office Solutions 8534 South Avenue Youngstown, Ohio 44514 3307291000 ext 237
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Re: How to Implement Your Own Flat Rate Program
just click yes, you should see this, if not let me know and I will put you on the list
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Re: How to Implement Your Own Flat Rate Program
Awesome! Hoping we can get to 50 or 60 like last time!
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Re: How to Implement Your Own Flat Rate Program
Will do, we hope to have the landing page completed in a few days
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Re: How to Implement Your Own Flat Rate Program
Plase RSVP me for this as well. Thank you - Dan
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Re: How to Implement Your Own Flat Rate Program
Hello, please RSVP me for the webcast about flat rate program. Thank you
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Re: How to Implement Your Own Flat Rate Program
Art Please RSVP me for this event Thanks Bill