Leasing companies

Dolphin is the old Copelco group...rates are a bit high...we are also using CIT and Key but a bit of DLL too

We use USXL, CIT. The rest is split among Wells, Key, Citi, Clune, Great America

We use CIT, Bank of America, and Citi-Capital. I'm phasing out the GE Capital and the Wells Fargo accounts. We also use local financing if the customer wants to stay local.

main ones we use are GE, CIT and a great one for $1 outs for non-profits is Baystone

We use DLL, GE and sometime US bancorp. As far as were concerned stay away from Wells Fargo.

Wells Fargo has shafted us on too many deals as well. They change the rules too often.

Art,

Who is USXL and how are their rates?

Rates are pretty good, .0192 (60 months) and competitive with the rest of them so far thier service is outstanding and they are booking 15% to the dealer at the end of the term. I will look for a number (973) 576-0619, Ed O'Toole, please make sure you tell them you found them on the P4P hotel.com

Art Post

I used to use Dolphin years ago. Back then they were the company that would approve almost anyone. I never had any issues with them.

Here's another one to consider. Citicapital, formerly Copelco. I have a church wanting to return their machine after 60 months, because they do not want to lease another machine. Citicapital's lease states the customer must pay $150 for Authorization to Return, and a restocking fee! The customer pays 60 payments and then must pay $150 to let them say, yes, send the machine back at your expense. Once they have you over the barrel, why not see what else they can get.

We use USB and Great America for 99%. We still have some old GE, Wells Fargo and DLL, but try to move them to USB and GA whenever possible. I can reccomend both to work with!

Used to use GE, left b/c their service got worse and worse...there have been a few cases where they contacted our customers offering buyout of their leased equipment.

We switched to Great America. They were great for a couple of years.

In our experience, GE is now kicking GA's but in rates. On a 3k deal where we're selling a payment there's $252 more gross profit with GE. Try telling a sales rep that it's worth $125 of their profit to go with another leasing company. GA's service is better and FMV buyout percentages are better. In deals over 5k they may get closer on rates, but right now there's too big of a difference for my sales team.

That's one way to look at it, but te othere is the long term. If a leasing company is pissing off a customer, what is your chances to sell the customer again. Maybe on a low $ dealer if this customer only buys every 5-7 years OK. But larger machine leases I feel it is another story. I have use DLL 99% of the time. Over the last couple of years they have up-set a few of my customers. I am now switching to USB, I have use them before an they are alot better.

You are leaving the fox to watch the henhouse if you give reps any say on what leasing company you use. You also deserve whatever you get if low rates are your criteria. Low rates mean one thing..."alternative forms of revenue." Leasing companies are going to get their money in other ways.

P4Photel is sponsored by a leasing company that won't compete for your business, won't charge for insurance, property tax, or Doc Fees, has a month-to-month renewal, has an early termination that is actually lower than the sum of payments, and will actually do your paperwork for you. I just send them a copy of my proposal and give them a name and a number and they take care of the rest. If the customer doesn't like the verbiage of the lease or they want special billing arrangements, Clune is most likely able to do it. Their rates may be higher but their cost is less. Do your customers a favor and check out Clune Equipment Leasing.