When Can a Deal Stay with a 3rd‑Party Lease Vendor?
This applies only to existing transactions with third‑party lessors (USB, Wells, DLL, CIT, etc.).
All three criteria below must be met:
Existing 3rd‑party lease only
New deals must use PEAC (Previously XFS).Contract must be at least 75% through the original term
Early churn does not qualify.Variance must be greater than 5%
The variance is the difference between the trade‑up amount and the buyout quote, calculated as a percentage of total funding.
Exceptions to the above would be:
PEAC Decline. In this case:
Transactions over $100k, email: XFSExceptionRequest@xerox.com
For clients with an existing lease, start the approval process with the current lendor. Transactions with Upgrade/Buyout Gaps continue with original Lessor. For $1 out transactions, must go through FCB, CA & NY. WF for FL, GA, KS, & UT. Select the recommended leasing company from the FMV & $1 Out tab based on term, funding amount, and lease type.
A Business Case for why the customer should stay with 3rd party lenders. These are ONLY acceptable for current customers.
Example (based on $100,000 total funding):
$1,000 variance (1%) → Move deal to PEAC (Previously XFS)
$5,000 or more variance (5%+) → Deal may stay with current lease vendor
Important: If the deal does not meet this criteria, the upgrade amount can no longer be used and the deal must move to PEAC (Previously XFS). Customer Preference is NOT a valid reason for a 3rd party lease request.
OSS Instructions:
Review Rep Notes
Confirm the order meets one of the criteria outlined above.
Submit the credit request in PREO as usual with a note that Lease Exemption is needed and what bank they're requesting.
If credit was already approved with PEAC and sales needs to change to a different vendor then the sales manager needs to send a business case to: XBS.US.PresignatureEscalations@xerox.com
Once credit is approved, contact your Business Ops Admin at XBS.US.PresignatureEscalations@xerox.com. Include the job/proposal link, business case for the exception, and request that an exception be submitted in the XBS XFS/PEAC Exception Tool.
Business Ops Admin Instructions:
Step 1: Open the XBS XFS/PEAC Exception Tool.
Step 2: Click Submit Exception.
Step 3: Complete all required fields, including: - Business Ops Admin
Customer Name
Use PREO → Requirements → Sold‑To Customer Name
Business Case / Explanation
Use details provided by the sales rep or customer.
Reason for Exception Request, such as:
Application Declined
Buyout / Upgrade Variance > 5% (or 75/5% criteria)
Pre‑approved Terms
Please note, Customer Preference is NOT an approvable business case
Step 4: Attach all supporting documentation: - Business Ops Admin
Decline letters
Buyout or upgrade quotes (if applicable)
Examples:
Application Declined
Pre-approved Terms:
Buyout/ Upgrade variance > 5% or 75/5% Criteria
Step 5: Submit and Monitor Exception Approval - Business Ops Admin
Submit the exception request. Credit approval should be attached and submitted for review.
To monitor status:
Click View My Exceptions in the Exception Tool.
Return to PREO and:
Document the current status in the Request Comments section.
HQ Review
HQ will review and issue an approval or denial.
Notifications are sent:
Via email
Through the Exception Tool
If Approved:
Proceed to Step 6.
If Denied:
Notify the sales rep.
If the review exceeds 72 hours, the exception request may be escalated via email.
Step 6: Documentation Management - Business Ops AdminAttach the exception approval to Document Center / Document upload under 'Lease Exception Form'.
Step 7: Approve / decline the 3rd party credit request in the request tab. – Business Ops Admin
Step 8: Finalize Lease Credit Approval in PREO -OSS
In payment details, update the app# and lease rate based on the lease credit approval from the leasing company. Ensure to click funding rate refresh to update the rep rate.
Step 9: Send back to OSS for final updates -OSS
Once exception is complete use the chat feature to engage the OSS team member to update the buyout quotes in PREO to the trade up and request OSS to do a final verification that no additional changes has happened on the proposal since the lease exemption was submitted.