It’s important to understand that all payoffs are not created equal. Your customers should understand that:
- Traditional “closed end” leasing requires all future payments to be made, without any discount
- An “interest rebate” reduces the payoff by a portion of the interest that has not accrued, resulting in full profit for the leasing company
- Premier’s Simple Lease uses a more favorable early termination formula based on simple interest. This results in a lower payoff, making it easier for your customer to move into their next car. Early Termination means that Premier foregoes future profit so that your dealership can deliver more cars.