I can remember when 97% all deals were approved, and if you were giving one leasing company first crack at all of your apps, most of the times they would approve the good, the bad and the ugly (maybe not the ugly, however they would take almost everything you gave them).
Fast forward to today and we find that during the last two years all of the major Copier Leasing Companies are pretty much creaming all of the applications, if the deals got a spot or blemish it's not going to get approved by them. Although some dealers have had some success with newer, smaller office equipment leasing companies that are taking some risk. A few dealers have even turned to thier local banks or the customers local bank for equipment financing in order to get the deal done.
In the last two years, it's probably been the worst times for both the copier industry and the office equipment leasing industry. Hey, who are ya gonna pay first, the payroll and ultilities or the copier lease? Pretty much, that's been the sign of the times. Real Estate, Mortgage, Construction, Title Companies are treated like Plague by the leasing companies.
Things you can do to help get those deals approved:
1. Always submit a fully completed application
2. Have the customer agree to a much shorter term lease, 24 and 12 months
3. Have the customer pay down the lease, if it's 10k for the equipment, ask if they'll put down 3K or so.
4. Get a PG
I've also got a sure fired way to help close deals when leasing...........want the details send me and email (art@p4photel.com) and make sure you're a member of the Print4Pay Hotel.
-=Good Selling=-
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