Page 162 - Drive First Gear Complete - Web

Closing • Company policies regarding

early purchase options, relocation
without our consent, service and
The Rental loaners, whose signatures to obtain,
what the company considers acceptable
identification and forms of payment

Agreement • How to calculate a rental payment, adjust a
renewal date, and take a rental payment

Having a rental agreement signed by the customer is
required as proof that an agreement exists between
the customer and the company. A signed rental
agreement is not always sufficient proof that an
agreement exists between the parties unless the
customer has a full and complete understanding of
their rights and obligations. A careful explanation
of the key terms of the agreement, with the
customer having every opportunity to ask questions,
is excellent insurance that can prove a binding
agreement. Never write on the rental agreement
in any place other than the signature and date
lines. Court decisions have consistently agreed that
anything handwritten overrides what is printed on
the form. Our rental agreements in each state meet
specific legal criteria.

Before you can explain the rental agreement to a
customer, there are some things you need to know:
• What each term in the rental agreement means

• Your state’s laws regarding late charges /
reinstatement fees and charges for liability damage
waivers and club fees.

Did

You Know?

The key to customers making on-time
rental renewal payments is to set the renewal
due date on the date they can come in to make
the rental payment. Many times, this aligns with
their payday from work. Do not make the mistake
of setting a renewal date for a date the customer
cannot keep. It will result in a first payment default
and the probable loss of an account.

NOTE: Many franchisees believe that standardized due
dates make it easier to manage past dues. Discuss this point
with your store manager and franchisee to have a good
understanding of their policies regarding due dates.
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