What to Expect
The course begins with discussions of leasing and the industry that supports it.
We will then take you through the leasing products that lessors offer. The course concludes with an explanation of how lessors make money and what happens as the lease flows through the lessor's system.
What is a Lease?
In this lesson, you will examine the leasing industry, discover why it is such a popular means of financing, and understand the leasing process.
Most of us are familiar with the loan process because we have all borrowed money at one time or another. How leasing works, on the other hand, may be unfamiliar territory.
Now that you know more about the leasing industry, let’s look at the specifics of a lease.
In this lesson you will:
- Define a lease and the parties to the transaction
- Identify the differences between a lease and a loan
Why Customers Lease
In this lesson you will understand why customers choose to lease so you can better serve them.
How Do We Make Money?
You have learned why lessees choose to lease, so the next step is to examine what motivates lessors.
This is an easy one – lessors, just like other companies, are in business to make money. If the company doesn’t make a profit, our salaries do not get paid. It is important, therefore, that you understand how your company makes money with its leases.
In this lesson, you will explain how a lessor makes money.
The Lease Process
The lease process involves three distinct phases, and several departments.
This lesson will familiarize you with the various stages in the life cycle of a lease.
Congratulations on completing the Welcome to Leasing training module!
You have a better understanding of the lease product and the leasing process. Now, let’s test your knowledge.