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Lease Training

Create an illustration showing a professional setting with a leasing document, calculator, and a tax form in the foreground, symbolizing lease training and financial literacy.

Lease Training Quiz

Test your knowledge of lease training and related regulations with our interactive quiz. This quiz covers essential topics such as tax exemptions, invoicing, and documentation needed for leasing agreements.

Assess your understanding of lease processes
Prepare for real-world leasing scenarios
Enhance your skills in understanding tax implications for customers

13 Questions3 MinutesCreated by LeverageAsset47

What does the customer need to provide for PST Tax exemption?

Cab Card

Insurance

Tax Return Docs

Email is acceptable

What's the balance to the seller on a RBFS invoice for LEASES?

Subtotal (taxes are not financed)

Full invoice amount including taxes

What's a Cab Card?

Insurance Paper

Card held by Taxi drivers

Registration doc that allows company and drivers to transport goods across different states or provinces

Do you need updated approval to request lease docs from WF?

YES, for any lease deal

NO, LOAN approval is ok

Only for FTC leases

If the customer is tax exempt, we need an updated invoice from the seller

TRUE

FALSE

Where do I check for Lender Tax Exemption Codes?

Lender Job Aid

Lender Facts Sheet

Who is the OWNER of the asset on a Lease?

Seller

Buyer

Lender

Do I need to know if the customer is Tax Exempt when requesting docs from lender?

No, It doesn't matter. Taxes are not financed

Yes, so they don't add PST to the payments

Can an ALBERTA Customer be tax exempt on Lease payments?

Yes, if he is a Farmer

Yes, if he has the right documentation

No, he only pays GST on payments so no PST to remove

What items should the funder provide to the customer for registration

Insurance

Executed docs

Plating letter / POA

Invoice w/ customer as Sold to

Invoice w/ Lender as sold to

Who should ask the customer for their Cab Card?

Funder, we are full service

Funders, we can't wait for AMs

AMs so we can request docs properly

When is the customer's 1st payment on a Lease?

In Arrears: 1st pmt is 30 days out

In Advance: 1st pmt is at the time of funding

In 120 days as all Leases have promo

BC Customer says they are putting $8,000 down to the seller including taxes, how much is your down payment on TVALS?

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