FAQ For Vendors and Manufacturers

Does Canadian Dominion Leasing work with equipment vendors?
Absolutely! Teaching equipment manufacturers, distributors, and resellers to use leasing to help sell their products is one of the most efficient means for Canadian Dominion Leasing to distribute its financial products. Depending on the equipment cost, up to 88% of the lessees choose the leasing company that is recommended by the equipment vendor.
Why is Canadian Dominion Leasing better than the competition?
Leasing is more than just a numbers game; leasing is service that you can count on every day. 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 customer's needs; and every customer's needs are unique. Once a program is designed, we provide initial training for you and your sales force as well as follow up training and support throughout the entire program.
Why should an equipment vendor develop a relationship with Canadian Dominion 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. Canadian Dominion Leasings' role is to provide the required funding to your customers to insure they do business with you and not your competition. For more information on our Vendor Programs click here.
How can I lease equipment from Canadian Dominion Leasing?
For transactions under $75,000 the lessee has the option of completing and electronically submitting a secure on line lease application for immediate processing. For transactions over $75,000, we require an application and the last two years of financial statements or the last two years of complete income tax returns. All applications are immediately processed for free. Once approved (usually within hours for application only programs), we will generate a one page lease approval form and send it to the lessee and/or vendor. To complete the transaction, the lessee authorizes a simple lease agreement written in plain English with terms that everyone can understand. When we receive and approve the executed lease contract and vendor invoice, Canadian Dominion Leasing pays the vendor immediately--not days or even weeks later. It's that simple!! For more information click here.
How do I use leasing to close more sales?
The first thing you need to do is to eliminate offering your customers a total cost proposal and concentrate on selling your products based on a monthly payment that is within your customer's monthly budget. Then your customers are assured of receiving all the equipment they need. In addition, by presenting a much more affordable monthly lease payment, you can convert those customers who are reluctant to make a buying decision due to the objection of having to make a large upfront cash outlay. Your customers will often find that leasing produces a greater monthly operating profit. As a result, they will return to lease more equipment.
My customers arrange their own financing. Why should I offer leasing?
By allowing your customer to arrange their own financing, you could lose control of the sale. Your competition may try to unhook your deal, your customer may get cold feet or their financing alternative may become too cumbersome to complete. The approval process for leasing is generally faster and easier than other types of financing, thus preventing your customer from changing their mind. If your competition becomes a factor in the transaction, your lease representative will often know and inform you immediately.
My customers all pay cash. Why should I offer a lease program?
While some of your customers are paying cash, many other potential customers are leasing their equipment. In addition, many of your customers that paid cash for their equipment, may have been able to afford better or more equipment if they had been given a lease option. If your cash customers leased their equipment instead of paying cash, they may have been able to use the cash to expand their businesses, thus requiring more of your equipment.
My customers think leasing is too expensive. How do I handle this objection?
Leasing is a competitive source of funds. It is easier, faster and more convenient than borrowing. It allows a business to grow by freeing up working capital for general expenses, inventory and any unforeseen emergencies. Eight out of ten companies use leasing to finance their equipment acquisitions. It is not expensive.
Does it cost me anything to offer a leasing program to my customers?
No. In fact, leasing will help you maintain profit margins. You will increase sales by offering your clients additional options, and making it more affordable for them to acquire your equipment. It costs you nothing to mention leasing to your customer.
How long does it take to get paid?
Once the equipment is delivered and accepted, it takes 24 hours or less for you to receive the cheque or wire transfer.
Is my company liable if a Lessee stops paying?
No. Unless you have executed a special program agreement that includes a recourse or remarketing provision. The credit worthiness of a lessee is not your risk.
How long will it take to get an approval?
Processing of your customers credit application will begin immediately upon submittal. The credit application may be completed on-line or you may have your customer download and fax it to us. Once we have received all the necessary information, the credit decision will be provided to you and your customer within 24 hours.
What if my customers decide they want to finance additional equipment or upgrade the equipment?
As your customer's business grows and their needs change, you can add or upgrade them at any point during the lease term. If the nature of your customers industry demands that they have the latest technology, leasing can help prevent their equipment from becoming obsolete.
What kinds of lease terms are available?
A variety of leasing products are available that allow us to tailor a lease to fit your customer's month-to-month cash flow requirements. Lease terms usually range from 12 to 84 months with various end of term options.
Why should my customer lease?
Leasing provides a great deal of flexibility in how your customers manage their equipment acquisitions. Whether your customers are a small or large company, leasing allows them to structure their equipment acquisition to best suit their time frame and payment structure.

How much do my customers have to pay up front?
A typical lease would require from zero to two monthly payments up front...

 

 How do I get started Leasing Equipment at CDL? - Follow this link for the basic, easy steps for you to follow: Click Here for Details