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Tagged With "Lease Calculator"

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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: Leasing, Insurance, Padded Rates, Buy Out Price

Old Glory ·
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

txeagle24 ·
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

Art Post ·
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

txeagle24 ·
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

Art Post ·
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

fisher ·
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?

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: 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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Re: MFP & Copier Stream of Payments Calculator

Walter Thomas ·
Thanks Art. I'll give this a try. Sincerely, Walter Thomas Branch Sales Manager Sharp Business Systems San Diego Phone: 619/258-1400
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Re: Copier Scams Part Deux "Dude Where's my Copier"?

GrantW ·
Art, it's a part of the industry that I doubt you will get rid of. I would like to add my own "observation". I don't think that 99.9% of dealers do a good deal. If 99.9% was the case these instances would not even be noticed because they would be unheard of. I think the reality is that around 60-70% of dealers are OK. Another point is that the leasing companies do not give a damn about the state of the copier at the end of a lease. As long as the customer has made all the payments they're...
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Re: Copier Scams Part Deux "Dude Where's my Copier"?

Art Post ·
Grant: Thanx for the comment, here in the US there is the trade agreement also but it varies from dealer to dealer. If the customer opts to return the system then the dealer has the option to buy the equipment.
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Re: Copier Scams Part Deux "Dude Where's my Copier"?

Old Glory ·
Sorry Grant but I have to call you out.It is a big mistake for salespeople to assume that what is true in their case, is true across the board. It causes the salesrep to make mistakes in judgement and may cause them to unintentionally misinform their prospect. Anything that isn't required by law is negotiable and therefore will vary from lease company to lease company and dealer to dealer. So two dealers using the same lease company may have negotiated different terms.
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Re: Copier Scams Part Deux "Dude Where's my Copier"?

GrantW ·
Even if the contract with the supplying dealer specifically has a clause that says the dealer will NOT buy the kit back, the lease co don't want it. I have never heard of a leasing company actually asking for the kit back at the end of a lease, they aren't interested. It's not part of their business plan. What is required as a condition on every lease is that the lessee is responsible for returning the equipment to a destination of the lease co's choice. If it does come to that it will go to...
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Re: Copier Scams Part Deux "Dude Where's my Copier"?

Old Glory ·
That's not really the point I was trying to make. The point is that a salesrep shouldn't assume anything as fact because the facts vary from dealer to dealer and lease to lease. That having been said, you are missing a big part of the lease equation and that is the "alternative forms of revenue" that comes at the end of the lease. Anytime a lease is ended effectively, the lease company loses the chance of an automatic renewal (evergreen clause), in some cases they lose the chance to sell the...
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Re: Copier Scams Part Deux "Dude Where's my Copier"?

GrantW ·
It's easy to work out where the lease co's make their money. Every time a deal is upgraded early the early settlement discount is a paltry sum (3%). The effective interest rates are therefore huge. This settlement is then more often added to a new lease and interested lumped on top of that. There's no factoring in of a residual kit value for the lease companies, too little money for too much effort and management. That's why they don't handle the kit and insist the customer or dealer does...
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Re: Copier Scams Part Deux "Dude Where's my Copier"?

Old Glory ·
Again, you are stating as fact things that are only true for you or possibly only true in the UK. Over here, I haven't seen an early settlement discount in years. Many companies actually have a pre-payment penalty. The settlement added to the new lease that you speak of is only a benefit to the lease company when the new deal goes to the incumbent. And if there is no residual, why isn't the equipment free to the dealer at the back end? The price to the dealer whether contracted in advance or...
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Re: Copier Scams Part Deux "Dude Where's my Copier"?

Art Post ·
I did a search on the web for the company I was speaking about and I found out that there is a law suite pending against for 25 missing copiers!! Where there is smoke there is fire!
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Re: Copier Scams Part Deux "Dude Where's my Copier"?

GrantW ·
" Many companies actually have a pre-payment penalty". Any clause which is an attempt to penalise a party if they try and terminate a contract early is illegal in the UK. This is not the same as liquidated damages clauses, where the injured party is entitled to compensation. I'm pretty the same legislation applies in the US?
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Re: Copier Scams Part Deux "Dude Where's my Copier"?

Old Glory ·
How is it that you are familiar with the laws in the U.S.? Tell me what this is if not a pre-payment penalty? "...You may not payoff this Agreement prior to the end of the Agreement term without our consent and We may charge You, in addition to the other amounts owed under this Agreement, an early termination fee equal to five percent (5%) of the total amount We paid for the Equipment. 9. USE AND MAINTENANCE. You agree that the Equipment is owned by Us and will be used for business..."
 
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