Skip to main content

Understanding Upgrade/Buyout Verbiage

Renee McNeese avatar
Written by Renee McNeese
Updated this week

The first piece to understand is the return vs. keep options. A return means that the device is being picked up and returned back to the lease company. Keep means that the customer is keeping the unit with them.

Upgrade to Return/Keep- This is a quote for when you have a customer with a specific bank, and you are taking the new lease back through the same bank. This is the lowest number that you can use as the bank gives us a discount for bringing the business back to them. This quote should NEVER be shared with the customer.

Vendor Buyout to Return/Keep- This quote is only to be used when you are upgrading a customer but instead of going back through the original bank you are using either a different bank or doing a cash purchase. This quote is slightly discounted as a favor from the bank to XBS. This quote should NEVER be shared with the customer.

Insurance/Damage Buyout- This quote is for when a customer has had damage to their device which deems it as a total loss. This quote/process will help the customer closed out the old machine and get a replacement if needed. This needs to be quoted by your sales support team.

Did this answer your question?