Want A Quickie?

We are all amazed and spoiled by Amazon and similar services that deliver products in 2 days or less. In just three clicks, the deal is done!  They have made our shopping and purchasing experiences “quick & easy”. 

As a result, it seems that all sorts of industries are emulating the “Amazon Experience”. Is this practical and sensible for commitments to short and long-term contracts such as Home Mortgages, Insurance Plans, Investments, Auto Leases, Personal and Business Loans, and even Equipment Finance Leases? 

Two recent articles in a Leasing Industry Publication prompted this discussion topic. Both cited examples of lessors who sought to increase the speed of transacting a lease contract with their potential customers.

One article announced a newcomer who described the current process to be “slow-moving, opaque, and complicated”. This Company is a well-known online lender of working capital loans but is just entering the lease finance fray. 

The other article stated that Lease Finance Providers who outsource some processes will “Find Value in Cost Savings and Speed”.  While some reported operational efficiencies that allowed organizations to expedite transactions, others cited some risks associated with third parties who are interacting with their customers. 

Most leasing companies, including Clune & Company, already strive to provide a “quick and easy” process. Is there a difference between this and the “new” trend toward greater speed? Is there truly a demand for an “Amazon” experience when booking a lease? Will due diligence and accuracy be sacrificed in the quest to close a deal in two clicks? 

In actuality, this decision should not be an “either/or” debate as there is a demand for both options. Savvy Lease Providers will respond to the needs of their customers by offering multiple methods to transact business.

Some customers may have unique needs and prefer a “hands on” experience with a knowledgeable and professional lease associate. Others are comfortable with accessing available technology to secure the lease finance package of their choosing from the available online tools offered by the Leasing Company. In the latter case, it is essential to have trust in the Lease Provider so that you will be confident of the integrity of the product and be assured that they are accessible throughout the term of the lease.    

Regardless of the method chosen, a lease contract establishes a relationship between a creditor and a lender that requires monthly payments over the term of the agreement.  By its’ very nature, it is more complex than a one- time purchase of a product on Amazon.  Nevertheless, as these articles attest, the Leasing Industry is striving to make the process “Quicker & Easier”.

May we serve your financing needs?


Kevin F. Clune CLFP
Clune & Company LC