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Long-Term Rent & Sales Contracts
Long-Term Rent & Sales Contracts is designed to give flexibility to each store to control rental, service, and installment contracts. The various types of rentals that may be tracked are: Rent Month-to-Month, Rent-to-Own, Sales Contracts, Lease Purchases, and Extended Warranty or Service Contracts. A complete history of each contract is maintained, even after the contract is paid off or returned. Your sales staff can easily look up contracts and view the complete breakdown of payments due, including payoff information, making it easier than pulling a ledger card!- Use multiple formulas to calculate payment credit on month-to-month rentals, such as 100% the first 6 months and 80% therafter.
- Track inventory that is coded as being out on rent and control how late charges should be assessed.
- Collect rental income and update the inventory record as payments are made.
- Print coupon books or rental contract statements (MICR coupon availability).
- Set up contracts for automatic monthly credit card (integrated credit card processing is required) or bank debit payments (Treasury Software is required).
- Prepare delinquency notices on demand and dramatically improve your collections process.
- Mark a contract for collection and choose to halt all activity on the contract or continue to add payments and late charges.
- Exchange inventory on rentals.
- Establish payoff discounts that are automatically calculated when viewing or posting a payoff.
- Print purchase option letters.