Anyone out there use CIT as a leasing company. We are being hammered by them to use them. It seems that a lot of RBS's are starting to use them. Let us know.
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We just started using only CIT. We had been using GE and DLL but got tired of getting deals declined and GE's interim rent charges. Also CIT's T&Cs are more favorable to the customer and they will approve alot of deals that the others won't. I highly recomend them.
CIT is much more deal friendly. Very aggressive and much easier to deal with than GE who is our primary lease vendor.
If this is Citicapital then be aware. They are good to start with, but very difficult when upgrading or buying out leases. My company has been burnt several times by them not receiving termination letters, bad buyout figures, etc.
The reason I wanted to ask who they were was because I have no intention of using CitiCapital. We used Fidelity before CitiCapital bought them and now we are stuck with the nightmare of dealing with CitiCapital at upgrade.
I did some checking...there appears to be no association with CitiCapital. If you do what I did and try to search via the internet you may end up spending the afternoon. I was referred to no less than 5 different numbers before I got to the right place. I may save you some trouble by telling you that the person responsible for new dealers in the Central U.S. is:
Mike Loconsolo
800-236-5802
mike.loconsolo@cit.com
By the way, right now he is manning the booth at "On Demand" for those who are there.
I did some checking...there appears to be no association with CitiCapital. If you do what I did and try to search via the internet you may end up spending the afternoon. I was referred to no less than 5 different numbers before I got to the right place. I may save you some trouble by telling you that the person responsible for new dealers in the Central U.S. is:
Mike Loconsolo
800-236-5802
mike.loconsolo@cit.com
By the way, right now he is manning the booth at "On Demand" for those who are there.
CIT is not Citi Capital, they are the old Newcourt Financial, they were owned last year by TYCO Capital and were spun off mid 2003.
We have beeen doing business with them for three years, and through out the three years they have been a very gracious and valued vendor. However as of late when thier (ours too) deals have been getting into the 36 month term of a 60 month lease. They are now hedging an upgrading the customer with their own money (I can not blame them). But they are making it more difficult for the custom to move to another vendor. The are saying that they will not accept a "stream of payments" (which is illegal) from a vendor and will not give the return location until the end of the lease.
We have to sow our own fields and we need to work with a company that will work with us. Meaning, get rid of the idea of the "best rate" and negotiate for best return policy from a company or the best buy out to "you" the originating vendor!
Art
[This message was edited by Docusultant on Tue March 09 2004 at 03:43 PM.]
[This message was edited by Docusultant on Tue March 09 2004 at 03:43 PM.]
We have beeen doing business with them for three years, and through out the three years they have been a very gracious and valued vendor. However as of late when thier (ours too) deals have been getting into the 36 month term of a 60 month lease. They are now hedging an upgrading the customer with their own money (I can not blame them). But they are making it more difficult for the custom to move to another vendor. The are saying that they will not accept a "stream of payments" (which is illegal) from a vendor and will not give the return location until the end of the lease.
We have to sow our own fields and we need to work with a company that will work with us. Meaning, get rid of the idea of the "best rate" and negotiate for best return policy from a company or the best buy out to "you" the originating vendor!
Art
[This message was edited by Docusultant on Tue March 09 2004 at 03:43 PM.]
[This message was edited by Docusultant on Tue March 09 2004 at 03:43 PM.]