Software for leasing cars, trucks, and other assets.
Our leasing software is part of a completely integrated platform. Imagine the improvement in your workflow if you didn't have to re-enter or re-load your data into multiple systems, such as accounting, credit bureau, collections, PPSA registration, and more. If you have an eye for efficiency and expanding your business down the road, our leasing software is the right choice for you.
Beginning a lease is easy because we've worked with you to set up various interfaces and suitable system defaults. This means that you don't have to re-enter data repeatedly.
Typically you begin a lease by entering the following:
Our leasing software allows you to input the costs that will be capitalized for the lease.
Examples of costs that can be capitalized include the following:
Portfolio Plus leasing software adds up the capitalized costs (gross capitalized costs), then subtracts the down payment, any rebates, and any trade-in value. The software then calculates your net capitalized cost, subtracts the residual value, and determines the amount to be amortized.
In a closed-end lease, a predetermined number of lease payments are made for a specified period of time and the vehicle is returned at the end of the term. Barring any physical damage to the vehicle, excess wear and tear, or additional mileage beyond the mileage allocated in the lease agreement, the lessee has no contingent responsibility at the end of the lease. With a closed-end lease, any loss of value through depreciation of the vehicle is the responsibility of the lessor. Most OEM's and prime lenders' leases are closed-end leases.
In an open-end lease, the vehicle has a market value at the end of the lease term equal to the residual value. If the asset is returned and the vehicle is sold for an amount equal to the residual value, then nothing more is owed (other than any remarketing or administration fees that may apply).
Otherwise, if there is a gap or difference in the value, the lessee would typically be responsible and a final billing invoice would be issued to the borrower through Portfolio Plus.
Our leasing software manages the entire leasing process including the choice of lease types (open or closed), capitalization costs, lease terms, delivery, and remarketing.
To help calculate the amount due from the lessee on the delivery date (or day one of the lease), Portfolio Plus incorporates values from the following fields:
Questions? We have answers.
This page was created or refreshed on July 11, 2018 @ 09:02:48
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
You're here to learn about: Leasing Software