Wells Fargo Lease reduces Monthly Lease Cost!

Art Post (Guest)

Just went you thought you've seen everything!

My account has a lease for an MFP with Wells Fargo, he was OK with the lease renewing for one year since he was not sure if he was going to move. After seeing him a few days ago, he stated he was ready to upgrade. I pulled a copy of the lease and offered him a new system with about a $30 savings each month.

I had the old lease listed as $234 per month with tax. So I was selling off the lease price, well it seems Wells Fargo reduced the lease price for the 12 month rollover. They reduced it $188 per month with tax. Needlesss to say I looked like a real ass.

But this is the first time I've seen this, has anyone seen this with other Wells Fargo leases that are in roll over?

Art

7/28/129:28 AM

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montecoreElite P4P'er

Yes, this is what happens with WF when the lease renews for 1 year. I forgot the percent, I think it was 75-80% of the original lease. Read the WF lease and it will tell you the percent.

I had a customer that was paying $800 per month with WF. Missed the letter of intent by 1 day the lease renewed for 1 year. The IT and Director was fed up with WF for many reasons. I explained that it was their fault the letter was not sent in. and they rolled 12 x 1 yr new WF renewal into my lease payment.

7/28/129:59 AM

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Art Post (Guest)

I knew about the rollover but not the deduction in the lease payment. I'll have to go back at look at their lease again, I did not see the percentage of reduction the first time.

7/28/124:16 PM

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Keith HacheyElite P4P'er VIP

Here is a sample version of a Wells Fargo lease agreement. This agreement shows the renewal payment term is 90% of the original payment amount. It should also be noted that there is notice clause from between 60-120 days and a restocking fee of $250.00.

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Wells_Fargo_Copier_Lease.pdf

7/30/1210:46 AM

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Art Post (Guest)

Keith:

Thanx for this, my customer is under an older Wells Fargo lease and there is nothing in the contract for a reduced payment and a restocking fee. Hopefully this holds true for the restocking fee!

This is the same wells fargo that will try and sell your customers the hardware when then get a Letter of Intent, not only will they sell it to the customer they will also provide 12 months of payments and what they claim zero percent financing.

I've seen enough of wells fargo to only use them if I have to otherwise everyone should stay away from Wells fargo!

USE LCA!

7/30/129:58 PM

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Keith HacheyElite P4P'er VIP

Thanks for the plug Art. I'm glad to be of assistance.

7/31/1212:25 PM

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fisherMaven VIP

I don't use WF but had a lot of problems with DLL negotiating new terms with my customers once the letter was recieved. Caught them red handed a couple of times. Now GE gets most of my business.

7/31/123:06 PM

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