Tuesday, May 5, 2009
Kyocera Expands Office Equipment Leasing Program
Kyocera Mita announces expansion of it's leasing program with Great America Leasing Corp and Wells Fargo Financial Leasing. Betcha, you thought this was going to be one of those boring Press Releases eh!
When I read the press release I was pleased to see Great America Leasing Corp as a new partner for Kyocera Mita. I have used them in the past and find them to be one of the premier office equipment leasing companies in the US today. Yes, you'll pay a little bit more to have them finance your lease however at the end of the term, you'll be happy with the return policy and the way they conduct business.
On the other hand, I was appalled to see that Kyocera Mita also hooked up with Wells Fargo Leasing. If you're a member of the Print4Pay Hotel message boards, you would have read the horror stories that reps have posted in reference to Wells Fargo Financial Leasing. Did someone not do their homework??
I can tell you of one situation from two of my customers, nearing the end of the term of the lease, where Wells Fargo Financial Leasing actually released the old equipment back to the customer for "x" amount of years with a $1.00 buyout. They did not notify the dealer in advance, they just took it upon themselves to call the customer and offer to release them the copier. One of my customers bit and the other did not. Traditionally, all Wells Fargo leases have a small window of time where the customer can send their letter of intent to return the equipment at the end of term, and if the customer misses this window, Wells Fargo will renew the lease for ONE YEAR! No ifs ands or buts, they are locked in. I hope the people at Kyocera negotiated different lease terms for their customers.
A word to the wise, read the lease you are going to to give to the customer, and if you're not happy with it, neither will the customer.