Does it only happen to me?

It’s happening like that all the time now. I’ve been able to get a lot to change their mind but there are still plenty who want us to rewrite the lease.

New Lease, aging will lead to problems unless the machines are in good shape. Will the funding partner approve or are you holding in house?

@Kimberly, device in good shape.  Funding partner will only do a $1.00 out, which lowers revenue, after including buyout that leaves may $1,500 revenue for each device

I will say, and it is not often, we can sometimes get Great America to do an FMV release from what i can remember, but it really depends on the deal and it is not standard practice for them that’s for sure.

Not sure if the is with GA, if so I will press the issue.  Thanx for your input on this

This is an ongoing problem, and I have heard from Great America and others that many dealers are having this issue due to inflation and higher lease rates. It seems that a lot of customers are letting their leases going into renewal and are completely fine with it and then another percentage are releasing the machines at the same price or requesting a lower prices. We do not typically discount our release payments, unless we have to.

@Art Post posted:

Not sure if the is with GA, if so I will press the issue.  Thanx for your input on this

It’s very rare that we have had it done. And it may have been some at times that have slipped through the cracks, but we have had it done before.

We did a ton in 2020 but rare now. We would try to upgrade to newer refurb machine . Depending on age we can get FMV, but most do a 36 $1.00out refurb. More GP usually than a release.

It' good to know that I'm not the one in the boat rowing , thanx to all.

We try to avoid the release.....there is not much benefit to customer to release vs evergreen unless you drop the payment and then you are digging yourself into a deep hole from every upgrading. We push hard for a new lease. The only time we re-lease is to avoid customer doing the FMV buyout and owning the machine.

@Deanw I agree also with the re-lease, on a few occasions I've been able to release for the same price per month but with a 24 month term with FMV