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3 replies

Booking Deals w/buy-out of existing leases

AP Art Post (Guest)
It's always tough when buying out an existing stream of payments on an old lease. However, can't the bean counters just request another stream of payment or buyout quote on the day of delivery for the new unit (instead od using one that is two to three weeks old)?? This way if the customer made a payment in between the time of order to the time of delivery the deal can be adjusted accordingly?

It's not like we're aksing for more money, since the lease is billed in arrears the company is responsible for making that payment.

I had heard a remark that "oh the leasing company will refund them the extra payment". In my 31 years I've never had a customer that was refunded a payment from the leasing company.

Angry

Art
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M montecoreElite P4P'er
Good thought....but that would never happen. Most of the time in a stream of payment situation I take the number of months left and subtract 1 or 2 depending on the situation then I use that to base the buyout. That will knock down the buyout...especially when they are paying $300-$400 a month. This will make a big difference when figuring the lease. That can actually win the deal.

The big wigs do not believe in the stream of payments and prefer to wait until the lease is up.....guess what that deal will already be flipped by then. The drawback is you get the customer but is much more of a challenge to get GP without being higher than what they are paying.

Do you really think the leasing company would refund a payment? Of course not.....that would be a pain.

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