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Comprehensive Dealer Benefits

Westport's programs allow you to enjoy all the benefits of offering sales financing to your customers, without assuming any of the related burdens of credit risk, capital allocation, or ongoing administration.

These benefits include:

Close Sales More Quickly
The purchase of equipment can become a significant capital expenditure decision for a firm. Often more than one decision maker may become involved, and your sales proposal may be scrutinized by several individuals, some of whom have not had the benefit of your presentation, or are not familiar with the reasons and justification for the purchase. Regardless of how much effort you have put into your sales calls and presentations, your proposal may become a victim of bureaucracy, office politics or a client's poor internal communications. Even when you have gained the client's agreement that your proposal has substantial merit, a purchase decision may be delayed indefinitely, due to a lack of capital. Waiting for a client to save enough capital for a purchase is risky, because over time your client will face endless demands for available capital, as the interest in your proposal fades from memory. By offering a leasing alternative, you can reduce the significance of the purchase decision for the client. This in turn may reduce the number of individuals involved in the decision, avoid the need to wait for budgets to be approved, or eliminate the need for the client to save for the equipment purchase.

Increased Sales Volume Per Transaction
With the additional capital that leasing provides and the appeal of low monthly payment amounts, clients are much more likely to opt for higher priced models or add additional optional equipment which they might not normally select. A sales rep familiar with leasing will know how to maximize the size of each lease sale. This enables them to sell a larger sales dollar volume for the same amount of time and effort. Leasing helps make it easier to meet quotas and/or earn extra commissions.

Leasing Increases Sales Profit Per Transaction
Studies show that while many clients will negotiate aggressively for a discount on cash purchases, far fewer will seek to discount purchases made on credit terms. Those that raise the objection that the payment amount does not meet their available budget can usually be accommodated by going to a longer term, rather than discounting. When this principle is combined with the larger sales dollar volume of lease transactions, sales reps stand to make more profit on each sales transaction, and likely with less effort.

Leasing Makes Future Sales Easier
Clients who purchase their equipment are usually not motivated to upgrade until it becomes faulty or clearly inadequate for their demands. When they do make an upgrade decision they may no longer favour the original supplier because they have kept the equipment beyond its useful life, and their most recent experience is not the most favourable. Many lease clients, however, opt to get new equipment when their lease comes due for expiry, or take advantage of the option to trade-up to new equipment during the term of the lease. In either situation, the sales rep has a great advantage because the client is motivated to make a decision within a specific time frame. The sales rep will also have access to financial information to assist in the cost justification of their proposal, and will have a clear advantage over any competitor who approaches the client. Although not all leases generate automatic sales at expiry, the great majority will upgrade with far less work.

Protects Client Base From Competition
If your clients purchase their equipment, they may be approached by your competition and encouraged to make a change to their offerings. They can opt for any proposal that comes along when they own their equipment outright. Clients who lease their equipment have an ongoing obligation in effect, and are not as free to consider competitors' proposals. Competitors are also unable to provide a concise proposal for a lease upgrade due to a lack of pertinent financial information. Vendors who refer clients to Westport for lease transactions are given preferential treatment and access to financial information, which will allow them to accurately cost justify the long-term financial impact of any equipment upgrade. A vendor will also be notified of any upgrade requests, which will give them the opportunity to investigate for potential competitor activity in their accounts, before the client has made any decision to change equipment.

Increased Long Term Sales Volume
Leasing offers the capability to do Trade-ups during the lease term, and generates a greater number of renewals and upgrade sales at lease expiries. Leasing also provides a sales rep's client base with protection from competitors. All these factors combine to create greater long-term sales volumes with the same or even less effort.

Provides Good Trial Closing Questions
Determining whether your prospect could prefer to lease or purchase the equipment offers many valid, yet harmless qualifying questions. The answers to these questions will give an excellent indication as to how well your presentation is being received. Including a leasing option in your sales presentations can even make your cash sales easier.

Helps to Promote A Professional Image
Offering a financing alternative for your clients shows that you are aware of the financial implications of such an acquisition, and are considering the complete needs of the client. Going the extra mile to provide a complete one-stop solution is a measure that will save your clients considerable time and effort. A convenient leasing plan could be the finishing touch that convinces your client to accept your proposal.

Helps to Secure Your Sales Transactions
Even after a client has agreed to the merits of your proposal, your sale could be lost if there is a delay while they secure financing, or budge for the necessary capital. Any delay leaves the door open for an employee, friend, bank manager, etc. to recommend someone they know who is "in the business" and can offer your prospect a great deal. A delay also gives your competitors the opportunity to discount their proposals and attempt to dissuade your would-be client. Leasing can immediately gain the client's commitment, even if they do not have sufficient capital for the purchase. Once they have signed an agreement they will be committed to the transaction, and will not be open to new suggestions or proposals.

Leasing Helps to Reduce Your Company's Accounts Receivables
Some sales reps are occasionally required to help collect outstanding amounts from clients whose accounts are delinquent. Others may not receive commissions for their transactions until the account is paid. Time spent attempting to help collect on previous sales, reduces the time that can be spent generating future sales. Leasing eliminates this problem as Westport promptly pays the vendor for leased equipment. Even sales reps who do not make efforts to help collect accounts can make a positive contribution to their company's financial position by encouraging lease sales, which can help reduce the company's accounts receivable expenses.

Some additional benefits include:

* Lowers Borrowing Costs
* A Value-Added Service for Clients at No Cost to You
* Immediate Sale and Revenue Recognition
* Marketing and Sales Support
* Increased Repeat Orders
* Increased Acceptance Ratio
* Increased Average Transaction Size
* Increased Profit Margins.


Westport Leasing Corporation
11198 - 84th Avenue Box 33026
Delta, B.C. CANADA V4C 2L7

Phone: (604) 681-1260 | Fax: (604) 681-1680