The standard lease transaction follows a 7-step process, which is designed to make leasing as effortless as possible for a dealer and his customer.

• Lease Application - Click Here To Download
  

1. The dealer presents a proposal to his customer, which includes a purchase price and a lease quote. EFSI is always happy to help dealers craft a lease quote for a transaction, or they may create their own using the online lease calculator. The lease quote is contingent upon the lease application acceptance and proper documentation execution.


2. If the customer wants to lease, the customer completes the 1-page lease application and faxes it to EFSI. This application can be printed and faxed in or can be completed and submitted online. Download the lease application. On transactions less than $50,000 this is the only document required for lease processing.


3. EFSI processes the application and notifies the dealer of the approval results. Sometimes more information is required in the credit process.


4. Once the application is accepted, the dealer or EFSI finalizes customer acceptance of the lease payments, as quoted, and obtains customer signature on the lease documentation. Customer submits signed lease documentation along with the first payment to EFSI.


5. EFSI notifies the dealer that the lease documentation has been received so that the dealer can order the equipment and perform any installation and/or training required.


6. When installation and training is complete, EFSI performs a telephonic audit to verify the lessee’s acceptance of the lease terms, equipment, etc.


7. Following a successful telephonic audit, the dealer submits an invoice to EFSI and transaction. Typically a dealer is paid within 24 to 48 hours of invoice receipt.