Frequently
Asked Questions
Why Should I Develop a Relationship With
Sierra Leasing?
Every sale proposal should be presented with a lease-financing
alternative. 93% of the customers that "want
to lease" and receive a sale only proposal, assume
that the vendor does not have the ability to lease their equipment.
To avoid the hassle of searching for additional funding,
the customer will simply do business with the equipment vendor
that can provide immediate financing for their products. Sierra’s
role is to provide the required funding to your customers to
insure they do business with you and not your competition.
Why Is Sierra Leasing Better Than The
Competition?
Sierra has very competitive lease rates, but leasing is more
than just a numbers game. Leasing is service that you can count
on every day. Sierra Leasing has invested heavily in technology
to assist our people in providing the highest quality of service.
Sierra Leasing is continually evaluating changes in technology
to insure that our service remains outstanding. In addition,
we have a salesperson dedicated to each vendor. Our sales people
not only have an expertise in equipment leasing, they have an
understanding of your industry. More importantly, they develop
an understanding of your company and your specific objectives.
Our vendor programs are designed specifically to meet the vendor’s
needs, and every vendor’s needs are unique. Once a program
is designed, we provide the initial training for you and your
sales force as well as follow up training and support throughout
the entire program. We service all our commercial accounts from
start to finish. You and your customers will deal only with
Sierra Leasing throughout the entire relationship. We value
your business too much to hand it over to someone else.
How Do My Customers Lease Equipment From
Sierra Leasing?
For transactions under $25,000 your customers complete a one
page lease application and fax it to Sierra Leasing. Your customers
also have the option of completing and electronically submitting
a secure online application for immediate processing. For transactions
over $25,000, we require an application and the last two years
of financial statements or the last two years of complete income
tax returns from your customer. All applications are immediately
processed for free. Once approved (usually within hours), we
will generate a one page lease approval form. Approved applications
and lease rates are valid for 90 days. To complete the transaction,
your customer authorizes a simple one page agreement written
in plain English. When we receive and approve the executed lease
contract and your invoice, Sierra Leasing pays you immediately--not
days or even weeks later. It’s that simple!!
What Equipment Does Sierra Leasing Finance?
Sierra leases all types of equipment with the exception of
titled vehicles. However, a high concentration of our current
vendors manufacture or sell computer, point of sale, telecommunication,
office, medical, tooling, printing, mailing, laundry, restaurant,
material handling, patient care, and similar types of production
equipment.
What Are Sierra Leasing’s Credit
Requirements?
Generally, Sierra Leasing prefers to lease equipment to lessees
that have been in business at least 24 months. Some unacceptable
credit information includes a bankruptcy within the past ten
years, open federal and/or state tax liens, real estate tax
liens or open civil suits in excess of $1,000.
Equipment Leasing
– Vendor Benefits
Leasing Speeds Up The Sales Process
By quoting a lease option with every sale, you enable your
customer to focus on a manageable monthly payment instead of
one large total payment. Most businesses operate within tight
budget constraints and, by quoting low monthly payments early
in the sale, you can help ease your customers' cost concerns.
Leasing Sales Are Bigger Sales
Using leasing early and often in the sales cycle enables you
to increase the size of the sale; your customer gets all of
the equipment he needs and you increase your earnings. By starting
off with a shorter term lease, such as 36 months, you determine
the customer's level of comfort. More importantly, you can now
increase the size of the sale and, by lengthening the term of
lease, keep the customer's payment the same.
Leasing Gives You The Competitive Edge
You undoubtedly sell the features and price performance benefits
of your equipment to give you a competitive edge with your customers.
You can sharpen this edge by offering the option of a low monthly
lease payment with each sales presentation. Besides just low
monthly payments, you can offer such benefits as seasonal or
deferred payment structures.
Leasing Means More Repeat Sales
Cash purchase customers are generally customers who expect
to squeeze every ounce of life out of their equipment before
they buy again; with sales quotas increasing every year, this
just "raises the bar" even higher for you. Leasing
customers are used to making monthly payments and will appreciate
the ease with which new equipment add-ons or upgrades can be
accommodated. Leasing supports the long-term relationship with
the customer, giving you more and easier opportunities to sell
equipment to existing customers.
Leasing Helps Close More Sales
Offering a choice is a proven technique for helping a customer
make a buy decision. Identifying and discussing alternatives
helps the customer make a decision and helps uncover hidden
questions or concerns. When trying to determine a customer's
budget, start with a 36 month term lease. If the customer hesitates,
move to a longer term. Leasing's flexibility gives you more
opportunities to close the sale with plans designed to fit the
customer's needs.
Leasing Increases Your Cash Flow
Once you have delivered and installed the equipment, your invoice
is immediately paid in full.
Equipment Leasing
– Lessee Benefits
