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Tagged With "Un-Lease"

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Re: Ten Ways Copier Reps Can Make Their Proposals Stand Out to Win More Orders!

Larry Kirsch ·
Thanks. Good reminder. Enjoy the holidays.
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Re: 57 Days of Selling "Day 47"

H Carl Little ·
Art, these are great for our sales teams. Keep them coming. Thank you. Carl Carl Little Director of Business Development Datamax KC 913-752-2256 (direct) 913-333-7180 (cell)
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Re: 57 Days of Selling "Day 47"

Art Post ·
Karl Thank you! Please feel free to share via social media also! Ten more to go. I was just thinking about doing a journal for the entire 2017. Art
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Re: 57 Days of Selling "Day 47"

Jason H ·
I am seeing more of that with wide format recently and I am not sure why. Most of what I have seen has been where they are running the same volume as before but they just don't want to have a machine anymore so they outsource it and it doesn't seem to matter if the machine was leased to them for a $1 a month they still wouldn't do it.
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Re: Ask Me Anything

TML ·
Sounds like I missed a good knowledge drop last week Art! Had a pretty good excuse, but love the topics discussed! I'm always learning and part of this ongoing learning is something from your blogs/emails that I throw in my knowledge bucket. Keep it up and I appreciate what you do!
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Re: Ask Me Anything

Art Post ·
@TML Yup anytime there;s a new family member it over rides anything that has to do with business. Hope to have you on the next call. Just remember to RSVP on the calendar and I will send you the link
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Re: Bad salespeople still exist, don't they?

Czech ·
Spot on Art. I love Gary Vaynerchuk's famous quote, "Legacy is greater than currency." You never know where you will be in 5 years. Walking away from every deal with your reputation and integrity intact is more important.
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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: Assume My Copier Lease....What?

AOSGROUP ·
I love the idea! I've tried this in the past with Kijiji or Craig's List with little success. I was wondering if you had any stats that this worked or that the leases were successfully transferred? Thanks!
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Re: Assume My Copier Lease....What?

Kitz ·
Seems simple and I would guess most of questions such as shipping of equipment, fee's for shipping, dealer support in the area unit is transfered etc. can all be answered?
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Re: Assume My Copier Lease....What?

Kiwispike ·
Tried this recently but haven't found anyone to take it up, issue I have had is often the remaining lease is above the market rates at the time. But its a fantastic concept.
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Re: Assume My Copier Lease....What?

Art Post ·
Originally Posted by Kiwispike: Tried this recently but haven't found anyone to take it up, issue I have had is often the remaining lease is above the market rates at the time. But its a fantastic concept. I agree when the market rate is above what you can buy it for, however, but you just never know. Recently we had the Sandy disaster here in NJ. Many companies moved in for one or two years to help with the rebuilding process. They would be viable candidates to assume a lease that may have...
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Re: Assume My Copier Lease....What?

Un-Lease.com ·
Thanks for all of your questions and comments! To answer the first question by @AOSGROUP, we've had some success in our local area of Toronto, Canada. The transactions were completed manually before launching the marketplace. The current version of the marketplace was only launched this past January, so you guys are the early adopters. Transactions can take the form of either a lease assumption (where one credit-approved client assumes the lease of another as-is), or a split-buyout (where...
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Re: Assume My Copier Lease....What?

Un-Lease.com ·
@Kitz: Dealer support is also a great question. Currently we approach this on a case-by-case basis. New transfers would go to an affiliated partner in the geographical territory that is qualified to service that equipment. Ultimately, we are building a network of independent dealers not unlike what the direct channel already has access to. This way, independent dealers can leverage the network for new contracts as well, such as when a sale is made to a head office that includes installations...
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Re: Assume My Copier Lease....What?

fisher ·
How does this square with the fine print on every lease doc I've ever read regarding assignment or transferring the lease by the lessee??? Who goes to jail if the lease doesn't get satisfied????
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Re: Assume My Copier Lease....What?

Art Post ·
Originally Posted by fisher: How does this square with the fine print on every lease doc I've ever read regarding assignment or transferring the lease by the lessee??? Who goes to jail if the lease doesn't get satisfied???? Fisher: The assumption process is one that I've seen leasing companies do from time to time. You have to get the blessing of the leasing company first, and credit approval for the new leasee.
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Re: Demise of the 60 Month Copier Lease

Deanw ·
In my opinion, in most cases, the shorter term lease only benefits the salesman, not the customer or the dealership. A lot of the savings you are talking about would only be true if the customer does a 36 month lease and stops but normally as you discuss they don't stop the have a payment for life, it's just a question of how often they refresh their equipment. The shorter term lease does give the customer the benefit of newer equipment sooner but make no mistake, they do pay more for that.
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Re: Demise of the 60 Month Copier Lease

Art Post ·
Agreed, 36 month lease is best for the sales person! But isn't that why work in this crazy business? if someone told me that I could only sell 60 month leases then I would be hard pressed to continue in this business. However, selling the 36 month payment FIRST, allows you to drop the cost of the payments by increasing the length of the payments. Therefor we can reduce the cost of the equipment rather than discounting the equipment. Discounting the equipment hurts the rep, and the dealer.
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Re: Demise of the 60 Month Copier Lease

SalesServiceGuy ·
Thanks for the post, Post ! I am guilty of pushing 60 month leases as standard procedure. I will take your advise and start to lead with 36 month terms.
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Re: Demise of the 60 Month Copier Lease

Art Post ·
I'm just as guilty also, but will make a bettr effort this year of selling the advantages of the 36 month term. Thanx for the repsonse!
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Re: Demise of the 60 Month Copier Lease

msaeger ·
I don't know about the sales process but as far as service goes customers are happier that get 36 month leases. The ones that go for 5 years often are calling way too often because their machines were shot a year ago. Pre ikon merge we had a lot of 36 month leases but now it seems like most are 60.
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Re: Demise of the 60 Month Copier Lease

Old Glory ·
I write almost all 36 month leases and almost all of them are renewed for another 24 months or 36 months. If you use a lease company with a guaranteed residual in the 10-15% range you can profit twice on the same box. With my company, I get credit for all the GP on the renewal since nothing is being set up or delivered, etc. I usually quote around a 65-75% payment on a 24 month renewal and a 50% payment on a 36 month renewal. I don't recommend either renewal unless the service history and...
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Re: Demise of the 60 Month Copier Lease

fisher ·
In my humble opinion the quote above is a flawed way of going about leasing for both you the sales rep and the customer. Choose the right lease term from the beginning and stick it out until the end of term. Rolling payments is bad for the customer and bad for you the sales person. As a sales rep I don't like to even roll a single payment into the new deal. I view that as a waste of potential profit and a reduction of my commission. If you look at my leases you'd see the vast majority are 48...
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Re: Demise of the 60 Month Copier Lease

Keith Hachey ·
Speaking from the leasing company perspective - the 60 month lease is the preferred term today. 8-10 years ago it was 36 months. From my review of dealer portfolios and speaking with dealership principals, the 60 month lease is the most profitable lease term to the dealership - in terms of equipment funding and service revenue. Art - from a sales person point of view, it may also be very profitable. I can give you recent examples of a review I completed for two dealerships. With dealership...
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Re: Demise of the 60 Month Copier Lease

Art Post ·
Originally Posted by fisher: In my humble opinion the quote above is a flawed way of going about leasing for both you the sales rep and the customer. Choose the right lease term from the beginning and stick it out until the end of term. Rolling payments is bad for the customer and bad for you the sales person. As a sales rep I don't like to even roll a single payment into the new deal. I view that as a waste of potential profit and a reduction of my commission. If you look at my leases you'd...
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Re: Demise of the 60 Month Copier Lease

Old Glory ·
I don't understand why the revenue changes from a 36 vs 60 unless a rep is selling the same payment on both. Over the years, I have heard of reps selling a 36 month term and payment but putting 60 months in the term box of the lease. Short of this kind of illegal activity, I don't see why the revenue changes. A $10,000 copier is either $XXX for 36 months or $YYY for 60 months but the funding (revenue) remains $10,000.
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Re: Demise of the 60 Month Copier Lease

Keith Hachey ·
Originally Posted by Old Glory: I don't understand why the revenue changes from a 36 vs 60 unless a rep is selling the same payment on both. Over the years, I have heard of reps selling a 36 month term and payment but putting 60 months in the term box of the lease. Short of this kind of illegal activity, I don't see why the revenue changes. A $10,000 copier is either $XXX for 36 months or $YYY for 60 months but the funding (revenue) remains $10,000. The revenue difference comes from...
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Re: Demise of the 60 Month Copier Lease

Old Glory ·
Originally Posted by Keith Hachey: The reason may not be this simple (but many times it is). It could be that you are proposing a solution the customer would like (machine+ software, multiple machines, better machines), but due to budgetary constraints, the customer will need to delay the implementation or reduce the scope of their project. Stretching the term makes that solution more affordable, while keeping their monthly payment the same or lower. There are many variables that factor into...
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Re: Demise of the 60 Month Copier Lease

txeagle24 ·
Originally Posted by Art Post: Originally Posted by fisher: In my humble opinion the quote above is a flawed way of going about leasing for both you the sales rep and the customer. Choose the right lease term from the beginning and stick it out until the end of term. Rolling payments is bad for the customer and bad for you the sales person. As a sales rep I don't like to even roll a single payment into the new deal. I view that as a waste of potential profit and a reduction of my commission.
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Re: Demise of the 60 Month Copier Lease

fisher ·
Originally Posted by txeagle24: Originally Posted by Art Post: Originally Posted by fisher: In my humble opinion the quote above is a flawed way of going about leasing for both you the sales rep and the customer. Choose the right lease term from the beginning and stick it out until the end of term. Rolling payments is bad for the customer and bad for you the sales person. As a sales rep I don't like to even roll a single payment into the new deal. I view that as a waste of potential profit...
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Re: Demise of the 60 Month Copier Lease

fisher ·
Example: Based on the customer's budget, I can justify a total of $50,000 in funding. If I go in 6 months early, & they still owe $6,000 in remaining payments, I can only fund $44,000 in new equipment. If I wait until the end, & they don't owe anything on the old equipment, that is an additional $6,000 in Revenue and GP. It's the same benefit whether you have a Revenue quota or a GP quota. In the example above that additional $6,000 would translate into an additional $1,800 in...
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Re: Demise of the 60 Month Copier Lease

txeagle24 ·
Originally Posted by fisher: Example: Based on the customer's budget, I can justify a total of $50,000 in funding. If I go in 6 months early, & they still owe $6,000 in remaining payments, I can only fund $44,000 in new equipment. If I wait until the end, & they don't owe anything on the old equipment, that is an additional $6,000 in Revenue and GP. It's the same benefit whether you have a Revenue quota or a GP quota. In the example above that additional $6,000 would translate into...
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Re: ricoh mp 4002SP order doc lease pricing.pdf

Monte ·
please use californiamonte@gmail.com I no longer check this email address. Thanks, monte
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Re: MFP & Copier Stream of Payments Calculator

Wallingford ·
Hi Art Can you please :- "send me the Copier Stream of Payments Calculator", as I would very much like to have a copy. Many thanks
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Re: MFP & Copier Stream of Payments Calculator

Larry31 ·
Hi Art, please "send me the Copier Stream of Payments Calculator, thanks so much Larry
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Re: MFP & Copier Stream of Payments Calculator

copierlady ·
Please send me the Copier Stream of Payments Calculator. Thanks!
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Re: MFP & Copier Stream of Payments Calculator

Russell Lamoy ·
Please send me the Copier Stream of Payments Calculator.
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Re: MFP & Copier Stream of Payments Calculator

vmlove ·
Please send me the Copier Stream of Payments Calculator.
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Re: MFP & Copier Stream of Payments Calculator

Art Post ·
There may be some confusion here. I am giving the file out to "new" members that will register on the site. Existing members need to purchase a Premium Membership. I will send the file to those members that requested it here and to me via email. I will post a dropbox link some time later today, please make sure you check back later for the link. Art
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Re: MFP & Copier Stream of Payments Calculator

Walter Thomas ·
I would love to check out the copier lease stream of payments calculator. Thanks, Walter Thomas Branch Sales Manager Sharp Business Systems - Southern California
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Re: MFP & Copier Stream of Payments Calculator

Art Post ·
Here's the link enjoy!! https://www.p4photel.com/clip/c...d=373266907678574882
 
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