Tagged With "LOI"

For the past two months it seems I've been giving back all of the successes for the last 12 months. But, I know it's something that you have to work through. For the better part of a year I was working a net new wide format opportunity where the vendor was hated along with the device. Upgrading early could not happen early due to COVID. Finally we're in the 60 day notification for the LOI, I met with the client last Thursday and the lease end date on the lease is not the end date. Seems the...

Interesting, I haven't heard of the COVID relief by the leasing companies other than some offering deferred payments on NEW deals. I imagine that if the lease was extended 90 days, then the LOI should be submitted 60 days from that 3 month roll. Most agreements I've seen usually state the exact window "at least X days notice but no more than Y days". Did this one not have that?

this lease had the exact window date as described, however my issue with the leasing company and their response to the lessee that the LOI was not received within the terms stated on the lease. The lessor is claiming the letter was sent to early because of the 90 day roll. However, they left it up the lessee to figure out the correct time frame to send the LOI. I can figure that out for the client but just wish the leasing companies would not play games

The games people play, the games lease companies play. So many grey area exist with these companies that I think it represents a great opportunity, for a lease company to step up and truly differentiate themselves by offering an honest program. Indeed lease companies like anyone need to make money. Yet the confusing tactics listed here are to "LOI" has been a pain to many a customer and their sales rep. How many deals have sales people lost because of that? Try shielding yourself with "its...

Great post! Hopefully some of the newbs who have found this blog read it and retain it. Having a good strategy on how you're handling this scenario's is key. Does someone within the dealership have a spreadsheet of the returns, what info is contained on that spreadsheet, who has access to it. Then, who's reminding the customer of when to send the letter in? Did anyone make this an outlook reminder for multiple people? We have a nice letter we use when sending the stream of payments checks to...

Yup, I sent to the former client today about following up about the hard drive wiping or replacement and the need to get a certificate

First item I'd like to start with is that if you're upgrading your copier lease with your existing vendor then you should be in good hands. There's a couple of reasons for that, one is that you trust the existing vendor and sales person and they've done this before and there were no issues. I write from experience and just last week one of my clients was approached by another copier vendor. The sales person at the company explained how much they could save if they leased a new copier from...

There's also the added expense to your new lease. The remaining payments are rolled over into the new lease. So the client's new payment is not as low as it could have been if he/she had waited til the end of the lease to upgrade. I bet you the competitor didn't mention that either.

I love this post for a number of reasons. First is that it has become a most important aspect of a deal and certainly gives you a unique selling proposition if you share your understanding of the overall life cycle, and some of the barbs that will make it go sour. How many times have we lost a deal when told "our info was wrong and we missed the deadline"?. Great strategy if your the incumbent and now you can go in and make it all go away but they have to go with you. Pretty shifty though.