Sample F.A.S.T. Course Materials
Tips of the Trade for Selling with Lease Financing
- Trial close with leasing to eliminate cost as a bonafide objection.
- Offer leasing upfront to avoid a discussion about the limitations of requesting capital expenditure funding.
- Always speak in the Lowest Common Denominator (LCD), lease cost per hour of use, lease cost per piece of equipment, lease cost per number of cases of product manufactured, etc.
- Be prepared to offer flexible leasing options . Abundant Payment Plan Choices
- If the questions become too complex, establish a direct line to one of the Riverbend Capital Group's Accessible Financing Experts to keep the customer engaged in the discussion and to close the sale quickly.
- Sell the savings or increased productivity that the equipment will generate versus the cost of the lease.
- Quote the shorter term first and save the longer term offer to make the offer seem even more cost-effective.
- Keep careful records of the end of the lease term and contact your client to renew, or to upgrade to another lease. Build residual income and keep your competitor's out of the account.
Scripts
The objective of using the telephone is to locate the decision maker, to conduct a very quick survey, and to begin the process of building a relationship with the decision maker. Since most leasing companies make the same offer, your point of differentiation is how you build from that first call into a trusted relationship.
Here are some typical objections and responses:
Customer: "We don't lease anything…ever. It is policy."
You: I understand. But do you mind if I ask what has prompted that policy?
(It is usually because of a previous bad leasing experience)
Interesting. Well…we actually take a simple approach to leasing. We are a full disclosure leasing firm. We have no hidden tricks or gimmicks to trick a Lessee into paying more than they expect. We outline and educate our client on every aspect that will effect the economics of a transaction. We also distribute information that will further educate you on some of the "red flags" or documentation to watch out for when reviewing not just our lease, but more importantly our competitors lease.
Customer:"We pay cash for all our equipment."
You: Even computers and copiers and other necessary office equipment? The reason I ask is because through our funding relationships we have many Fortune 500 clients who now lease after they studied our proposals. This is due to the fact that we can take a much larger residual or equity position on equipment than what you have seen from leasing companies in the past. We can do this because the volume of equipment our funding sources finance, they have the ability to remarket this office equipment with a very high efficiency. For instance: In the U.S. we typically can get 5%-13% for a PC once a Lessee has returned it after three years of use. We can take that same PC and sell it into parts of the world where technology is not as advanced like South America and get upwards of 25% for the equipment. This means we are indifferent to whether or not you purchase or return the equipment at the end of the term because we are covered regardless. This also means our Lease Rate Factors can be aggressive enough to meet even the most stringent lease vs. buy calculations. Basically any piece of equipment you plan on using for less than 4 years can be submitted for a proposal that will save you a considerable amount of money.
Questions
F.A.S.T. Action Training includes the use of Open Ended Questions, Closed End Questions and Benefit Tag Questions to close the sale:
Who is responsible for purchasing equipment?
What is the typical number of years you keep production equipment on the line?
Where are the pieces of equipment that are causing delays in production?
When are the annual budgets discussed for capital expenditures?
How is the review process handled for new equipment or software?
Will Monday or Tuesday be better for you to discuss our affordable leasing programs?
May I call you on Friday at 10 am?
Leasing keeps you current with the latest models of equipment and the latest versions of software for the same cost or less as outright purchase. When can we meet for the initial analysis of current needs meeting?
Riverbend Capital Group's F.A.S.T. Action Training Program (Financing As A Sales Tool) is offered at No-Cost to client groups of 25 or more. Do you have a National Sales Meeting or Manager's Meeting coming up? Send your meeting dates to fastscheduling@riverbendcapitalgroup.com or call 866.899.7058 to get into our schedule today. Start closing more sales with leasing!
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