Tagged With "Lease Equipment Return Summit"
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Re: Ten Ways Copier Reps Can Make Their Proposals Stand Out to Win More Orders!
Thanks. Good reminder. Enjoy the holidays.
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Re: 57 Days of Selling "Day 47"
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"
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"
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: COVID-19 Impact on Dealers and the Channel?
I was on the MPSA call today. Here's some points of interest I was going to post on another thread but will put it here for everyone. One major MPS company reported 29% decline in pages or revenue Another major MPS company reported a 71% decline Healthcare for one of those clients saw a 40% increase More inquires from clients in respect to file sharing and content Expecting continuing decline for another 30 days in revenue and prints First week of April they hit bottom and has stayed that...
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Re: Ask Me Anything
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
@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: 7 Deadly Topics from 7 Deadly Sinners at Top 100 Summit (Part One)
Is it just me, or does West McDonald look like Wolverine? I watched the Seat-Based Billing video that was posted from the Top 100 Summit. Definitely some interesting points going back and forth. Print Audit has done a great job of persistently marketing seat-based pilling to the copier industry.
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Re: Bad salespeople still exist, don't they?
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: Leasing, Insurance, Padded Rates, Buy Out Price
In my opinion, what the dealer was funded is not material. That is between the dealership and the leasing company. If it truly is insurance to cover just the device you either insure for the amount necessary to cover the debt should something happen which would be sum of payments plus the residual value or insurance to cover the replacement cost. However, most office equipment is covered under a blanket policy covering all building contents.
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Re: Leasing, Insurance, Padded Rates, Buy Out Price
To be on the safe side, I always give my clients the MSRP on the equipment as the number they should provide to their insurance company.
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Re: Leasing, Insurance, Padded Rates, Buy Out Price
txeagle seems you may have the best answer, just quote them MSRP and we should be safe. We just went through one of these where the copier was damaged by fire and was covered under the BOP policy. The insurance company paid the stream of payments plus the residual. I'm always somewhat concerned when I have to quote a price to the customer and then that customer uses that for the value of the equipment to the leasing company. If you sell at MSRP and the equipment is leased, then you need to...
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Re: Leasing, Insurance, Padded Rates, Buy Out Price
If you sell at or above MSRP due to significant GP or because a buyout was involved, I would quote the Stream of Payments of the hardware + the buyout, excluding the portion of the monthly payment attributable to Service/Supplies in the case of a bundled lease/service agreement.
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Re: Leasing, Insurance, Padded Rates, Buy Out Price
Tx, ty for this this. I don't bundle MA/Supplies. I just don't want my customer to get jammed in case there is a loss. We've had quite a few losses here in NJ with the storm from a few years ago. I'm just looking for the right thing to do for customers who opt out of the leasing companies insurance. I'm somewhat skeptical of giving them stream of payments plus residual, may open up a can of worms.
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Re: Leasing, Insurance, Padded Rates, Buy Out Price
I've had the question come up a few times over the year and I simply give them full MSRP for the machine and all accessories as the amount.
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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: MPS and Linux HELP!
So some clarification first. PaperCut absolutely does support Mac. In fact, it is the only cost recovery/print control solution that I know of that actually installs in an all Mac environment. (Server and Client) It also is the only solution I know of that installs in a Linux environment. So both of your issues are solved with PaperCut. I included the install guides for Mac and Linux to get you started.
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Re: Is selling at cost the future for print hardware?
Interesting approach to the sales process. Strikes me the next promo is for 10% below sticker price...of course unlike cars, manufacturers don't put a sticker price on MFP's to advise the public what the price is supposed to be. At this point we find the margin we are able to obtain on most sales of hardware barely covers the cost of sales for the product...any business profits come from services bundled around the hardware, either connectivity plans, support plans, supplies for colour etc.
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Re: UPDATE 3-Canon buys Dutch Oce for $1.1 bln, fights Ricoh
Tokyoamsterdam: Japan's Canon plans to buy Dutch copier and printer maker Oce for 730 million euros ($1.09 billion) as it tries to return to growth after the global downturn and fight rival Ricoh. Copier and digital camera maker Canon and Oce said in a joint statement on Monday that Canon intends to offer 8.60 euros per share, or 730 million euros, for Oce's outstanding shares. Canon's offer follows little over a year after Japan's Ricoh, the world''s largest copier maker, bought US office...
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Re: Calculating Lease Costs and Effective Purchase Price W/O interest
You're getting good answers, but sometimes the third of fourth approach to answering the question helps. Not to imply that the previous answers are incorrect or incomplete. 1. "Lease Rate" is a convenience, given to you so that you can multiply your selling price by a number and end up with a payment acceptable to the lessor. 2. The "Short answer" from your leasing company is "We'll do that deal for 36 months at 0.0302". 3. The "Long answer" which they will seldom give you is: - We believe...
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Re: CBS NEWS REPORT ON COPIER SECURITY
this came across my alerts today!! « How Computer Forensics Firms Market Themselves | Main April 21, 2010 Going to Ditch a Copier? Think Twice. It May Carry Your Data. We had an e-mail from the Virginia State Bar's ethics guru, Jim McCauley, asking about an article he had read about how copiers can be gold mines for identity thieves. Indeed they can. Jim asked John to comment on the issue for a piece Jim is writing. As always, John's information is valuable and generally unknown to many...
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Re: CBS NEWS REPORT ON COPIER SECURITY
Certainly not to come across as a conspiracy theorist (although that can sometimes be fun, too), but didn’t the video show that return shipping paperwork was lying on the platen glass on at least one of the copiers purchased? I wonder how many copiers in that NJ warehouse have shipping paperwork attached or simply lying under the ADF. Wouldn’t an identity thief looking to purchase a copier be able to browse the NJ warehouse looking for shipping paperwork from financial institutions and...
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Re: CBS NEWS REPORT ON COPIER SECURITY
I have seen statements on return forms from lease companies that state that the leasee is responsible for securing data that may be on the HDD. Regarding the show, CBS producers get paid to make reports for "good TV". I heard about this HDD concern a few weeks ago in an early morning "tip" from Clark Howard on CNN a few weeks ago. I Googled it at the time and found a print article. I think that the concern is valid but I think that it probably the hard way to find personal information. As...
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Re: At the end of term, who pays to ship the copier back to the leasing company?
I tell customers that technically, it is THEIR lease and they are responsible for the return. However, that the unwritten rule is the person who secures the business should return it for the customer. If you know a machine like that exists, add the cost to your quote and make sure that it is known that you will return the machine for them. If the other guy hasn't figured that in and gets asked, they either have to: 1. Look like bad guy to charge an extra fee 2. Tell them it's their...
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Re: At the end of term, who pays to ship the copier back to the leasing company?
When we decline to return a copier at our cost due to a competitor not doing this at their expense, we do suggest to our former customer two moving companies they can call to pick up the equipment. Of course, we will keep in polite contact over the next few years, as we known when the lease will expire next time.
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Re: At the end of term, who pays to ship the copier back to the leasing company?
SSG: Good Stuff, the return of the old system is one of the items that needs to be addressed, more often than not, if the customer has the space and the willingness to store and then ship the machine themselves, I'm all for that!
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Re: Around the World with Xerox
Testing concluded this evening for the Ducati Xerox team and riders Noriyuki Haga, Michel Fabrizio and Troy Bayliss. The three-day test session took place on Thursday, Sunday and today, with the first two days of testing coinciding with the first and last day of World Ducati Week, allowing the huge crowds of Ducatisti to witness an official testing session first hand. Noriyuki and Michel were on track on their factory 1198 bikes while Troy Bayliss, testing for the second time this season,...
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Re: Sharp to Introduce Five New Copier/Printer Models, Including a Digital Full-Color MFP
Art...it adds about $500 over the base unit. But that is nothing compared to what you get in return if that meets the needs of the end user.
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Re: Lexmark Dealer MFPs vs IT Channel MFPs
That is perfect TX! Thanks for the clarification! Can you still return them through Lexmark's cartridge return program?
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Re: Copier & Office Humor
Try paging yourself over the intercom with something like "(your name), please return to your office." Or tell someone, "I bet you feel more like you do now than you did before I came."
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Re: Tohoku Earthquake Wreaks Havoc on Printer Industry Supply Chain
This was an article from the NY times over the weekend! SHIBATA-MACHI, Japan — When the ground shook violently on the afternoon of March 11, the ceiling collapsed in part of the huge Ricoh copier factory here, exposing the vents and wires above. The offices at the Ricoh plant near Sendai are still in disrepair; workers have focused on restoring the factory and production. The ceiling is still not fixed. But employees are back at their posts, working under temporary lighting and wearing hard...
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Re: HDD Wiping/Reformatting
Jason, You are absolutely right, it isn't the responsibility of the new dealer to wipe the Hard Drives of the old Dealers MFDs. And if it is a line that your dealership does not carry you couldn't restore it to working order after you did wipe the Hard Drives. Which would cause them more problems and cost if they return it ti their leasing company in non working order. But if you want to add value you do have the discussion with the new client and inform and advise them of their options. I...
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Re: HDD Wiping/Reformatting
We charge an inexpensive fee (1 hour labor) to format the hard drive, but if they want something more secure, we will remove the hard drive from the old machine and replace it with a new hard drive. For that, we charge the cost of the hard drive + labor and either destroy the old hard drive or return it to the client. That typically costs less than $500 and is easy to roll into a new deal. We've done this on Sharps, Canons, Toshibas, Kyoceras and Konica Minoltas. The hard drives are easy to...
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Re: A Day That Will Never Be Forgotten
I was in my junior year of college and upon return from my 5:30am workout with the rest of my college baseball team, I laid down for a nap in my apartment until 7:45am Central time. After getting dressed and grabbing my things for my morning classes, I walked out to the living room and my brother was laying on the couch and told me a plane hit one of the towers of the World Trade Center in NYC. Of course, we were under the assumption that it was an accident until a little later when the 2nd...
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Re: Ricoh Loses another Top Exec
Your comments above demonstrate the frustration that many RFG (Ricoh / SAVIN / Lanier) Dealers are feeling, which began when Ricoh acquired IKON. Since then, many Independent Dealers have picked up another Product Line, or bolstered their business with the other Vendor(s) they were already carrying. Ricoh is simply not stable, especially for Independent Dealers that sell Ricoh / Savin / Lanier. Yet, even the IKON / RBS direct side is faltering and the musical chairs amongst 'leadership' will...
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Re: Japan Crisis
Fukushima Evacuees to Return to Exclusion Zone to Check Property Story tools print this storyorder a reprintsuggest a storydigg thissave to del.icio.usSept. 16 (Bloomberg) -- About 20,000 families from the exclusion zone around Japan's wrecked Fukushima nuclear plant will be allowed to return to their homes from Sept. 19 to collect belongings and check their properties. They will be permitted to return in their own cars for the first time, said Masato Kino, spokesman at the Emergency...
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Re: For all Replublicans, or Indies
Agreed...I love the idea of drug dealers helping to pay down the national debt. Maybe as he refines the idea there will be a way to provide a tax refund to low income families, at least those that file a return.
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Re: Marlin Does Not Disclose Possible Loss Of Evergreen Payments
Old Glory: Could not have stated it better, most dealerships could not give a rats ass about what's best for the customer, if that was the case we'd all be selling 10% leases (remember them, they are a thing of the past) or the $1.00 buy out. Not only what I mentioned above, what I'm seeing is that dealerships are letting the leasing companies now add additional fees to return the equipment early, these fee's were NOT a part of the original dealer agreement and dealer ownership is allowing...
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Re: 0% Copier Financing
A lot of confusion around this topic. The leasing companies have a beat-down coming if they continue to falsely promote their FMV promo rates as "0% leases". Example, a recent manufacturer promo offered "0% FMV Lease!" for 36 months. But the lease rate for a 36 month deal was .027777. On a $10,000 machine, the payment was $277.77. The sum of 36 payments, $9,999.72 ($10,000). Problem? The machine still belongs to the lessor. Assuming that the residual value was 15% ($1,500), plug the...