LeaseDirect Charge on Your Credit Card?

It ain’t me babe, it ain’t me you’re looking for… ~ Bob Dylan

Hold the phones. It seems major banks believe little ol’ LeaseDirect Canada is charging their clients’ credit cards for some nefarious purpose.

For the record, in most cases, the charges relate to Canon or Ricoh copier financing provided by the manufacturers’ underwriter, an outfit called De Lage Landen (DLL for short) in Oakville, Ontario, who own the Leasedirect.com web domain, and which is owned by one of the world’s largest banks, Rabobank Group (The Netherlands).

If you see a charge on your credit card statement that says ‘leasedirect’, please review any current lease contracts you may have with Canon, Ricoh or De Lage Landen (DLL). These charges are usually a default in cases where your pre-approved auto-debit payment is declined for some reason.

The confusion seems to arise almost every month as business owners and government departments review their credit card statements. We own the LeaseDirect.ca Canadian domain and have been registered federally across the country, as a Canada corporation to protect our name, since 2004. When you Google our name in search of the company issuing mysterious and unexpected charges to your credit card, we are the ones to pop up.

If you are still not sure why your card got dinged, please call DLL at 1-877-500-5355 and see if they can get you sorted out. In any case, it is not us at LeaseDirect Canada Corporation. We do not charge credit cards at all, and especially not for failed lease payments. Perhaps something to keep in mind the next time you need an equipment or vehicle lease?

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Leasing a Vehicle For Your Business. You Find It, We Lease It. Source From Dealer, Auction or Private Sale.

Prefer to by-pass the dealership business office? Need to keep your information confidential and salesmen out of your business affairs? Found a great deal on a trailer through a private seller on Kijiji or AutoTrader? Have you picked up a quality late model vehicle at auction? We can provide you with financing right now.

LeaseDirect offers an easy process for leasing a vehicle for your business, whether you need to acquire a truck, trailer, van or car. You can source through private sales, or an auction, or work with your local dealer. The choice is yours.

Our leases are ‘Open’, so there are no specific mileage, maintenance or modification restrictions. In exchange, you are responsible for the residual value at lease expiry. You have the option to lower the residual value on the contract, which is a good idea if you know this will be a high mileage vehicle.

Note that our business vehicle leasing program as described is for “A to A-” credit. We have alternative financing options if there are any issues.

If you are acquiring from a private seller, please invest in a CarProof report. Imported and previously damaged vehicles are much harder to get approved.

For private sale acquisitions, we purchase the vehicle from the current owner, then lease to you. Just forward to us the current registration showing the ownership portion. This confirms the seller’s title for us and also the address and VIN#. Private sales can be a bit tricky as we need a few days to process and sellers are typically anxious and suspicious. We courier a cheque or direct deposit directly to the seller asap, but it does take 2-3 days once we have the contract with you in place.

Depending on your compensation structure, you may be fine to start your venture as a proprietorship, which is less expensive to register. Leasing works best when used to offset high taxable income. Perhaps check with your accountant for more guidance on structure and vehicle leasing deduction limits.

Applications are available here, if you want to get started. Please complete and sign and send back, along with your 2015 and 2014 CRA Notices of Assessment (corporate and/or personal). We can have you pre-approved on a sample vehicle (to your specs) and then adjust when you find the unit you like.

email: frank@leasedirect.ca

fax: 1-888-398-2236

tel: 1-403-701-5877

 

LeaseDirect Canada Corporation is a member of the Canadian Finance & Leasing Association (CFLA), and the Alberta Motor Vehicle Industry Council (AMVIC).

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Good Leasing Results: “It has been a pleasure working with you.”

Some transactions just go so well that I just want to reach through the phone to the person I’ve been working with and extend a big ol’ hug. Imagine every working interaction going smoothly, sharing the information needed to make an informed decision (on both sides), doing what we say we will do, giving the customer exactly what we promised, and the customer acknowledging that as the case? Bingo. Customer satisfaction, verified, gently lifting our modest enterprise up, providing a sense of satisfaction in our work and process.

This doesn’t happen with every transaction, but how sweet it is when it does.

 

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Message from Credit

Every once in a while funny stuff happens at work, even in the leasing business. Yesterday I conferenced a rather unexpressive client in over the phone, connecting with the voicemail of a credit manager, to do a verbal confirmation of equipment delivery — usually the last step in completing a file and starting the lease. Here is the email I received this morning:

Hi Frank:  I got the voice message from you and Charlie. It made my day.  Your “instead of a grunt, can you put that into a sentence?” was absolutely hilarious. Then his part about “well the battery didn’t work” was great. I didn’t know whether to erase or post it on u-tube. Anyway it does count as a verbal delivery. Nobody could fake that.

Thanks for the laugh.

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Doom and Gloom? Where?

So, we are providing lease financing for a new dermatology clinic in Vancouver; funding digger derrick and bucket trucks that will be working for BC Hydro; leased new servers to an engineering company in Calgary; approved an older lowboy trailer for a new equipment rental company in Alberta. Every day brings new opportunities. Seems like a healthy upswing in progress, but not hearing about it in the media. Probably doom and gloom is a better sell?

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Leasing Services in Alberta – Our Poster Boy

Fred’s little Alberta based oil and gas drilling rig moving business is now generating considerable revenue, with decent profitability.  It has been an interesting ride with him over the past three years.  Starting as a modest water hauling operation, our humble leasing service funded a fleet of trailers, trucks and associated equipment to help Fred’s company grow its operation.

It is the same old story.  It took ten years of sweat to become an overnight success, and now that he’s there, Fred has to fight off at least three banks that suddenly “love the business”.

Here’s a list of things that helped Fred succeed:

1) Detailed financial statements that included five years of comparative figures, prepared by a reputable firm of Chartered Accountants.

2) Wiley recruitment of the right people, at the right time, to meet the demand as it grew.

3) Buying good used equipment at a great price in a ‘down’ market (2009).

4) Careful evaluation of the monthly leasing cost against the revenue that could be generated by a particular piece of equipment.

5) A supportive, understanding and practical wife working in the business.

6) Cojones. (Ka-hone-eez). Big ones.

Congrats Fred, you’ve arrived.

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Equipment Leasing: Sometimes It *Really!* Works

It is a pleasure working with people who have the determination (guts, gumption, skill, luck) to succeed, regardless of the perceived economic climate.

I am starting to see year-end statements for a few companies who are not only surviving, but really, really thriving.  Congrats to you hardy souls. 

 It is nice to know that we played a small part in the success.

Finding funding during challenging times speaks to the diversity the leasing industry can offer growing companies.  While our pricing was not the cheapest, we got the job done.  Our clients acquired the equipment they needed, at rock-bottom prices, to meet rising market demand in the recovering resource sectors.

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